Question #62 Economics What is the difference between an economic cost and an opportunity cost? A O An economic cost is a cost that varies with a level of output, while an opportunity cost is the money B o An opportunity cost is the cost of what you gave up doing when you committed to the course of action C, O An opportunity cost is a cost that varies with a level of output, while an economic cost is the money spent implementing a decision. you chose, while an economic cost is the money spent implementing a decision. spent implementing a decision. you chose, while an opportunity cost is the money spent implementing a decision. services, while an opportunity cost is the money spent implementing a decision. An economic cost is the cost of what you gave up doing when you committed to the course of action E 3 An economic cost is a cost that can be completely attributed to the production of specific goods or