Question

Which of the following illustrates an opportunity cost

Answer 1

The opportunity cost of like a decision is the profit of the next good backup use of limited resources.

The opportunity cost can be illustrated by providing productions hazard frontiers which are used in simple, still powerful tool be to demonstrate the effects based on making an economical choice.  

And it is usually high whenever an economic allocating limited resources.  

Answer 2

This is the cost that represent the benefit that is experienced after a business may gain when choosing goods to sell,one may prefer one good over the other because of opportunity  cost.Opportunity cost are mostly unseen by many business and mistakes can be made out of them.By understanding opportunity cost one is able to make decisions that are perfect hence enabling the business to gain more profits.