An opportunity cost is:(Select the best answer below.)

A.

what you gain by making a choice.

B.

what you would have spent on another choice.

C.

what you forgo as the result of a decision.

D.

what you spend when making a choice.

What might be one of the opportunity costs of spending $10 per week on the lottery?(Select the best answer below.)

A.

Having $1000 in savings at the end of the year.

B.

The lottery winnings.

C.

The expected winnings.

D.

The time spent buying the ticket.