Question

The opportunity cost of a given activity is ​

Answer 1

Answer:

the loss of value or benefit that would be incurred (the cost) by engaging in that activity.

Answer 2

Explanation:

In microeconomic theory, the opportunity cost of a particular activity option is the loss of value or benefit that would be incurred (the cost) by engaging in that activity, relative to engaging in an alternative activity offering a higher return in value or benefit.