Define opportunity

cost.

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Part 1

A.

Opportunity cost is expected future costs that differ among the alternative courses of action being considered.

B.

Opportunity cost is the additional total cost incurred for an activity.

C.

Opportunity cost is the contribution to income that is forgone (rejected) by not using a limited resource in its next-best alternative use.

D.

Opportunity cost is the sum of all costs (variable and fixed) in a particular business function of the value chain, such as manufacturing costs or marketing costs.