The Highest Valued Alternative Sacrificed as a Result of a Choice

Multiple Choice

The highest valued alternative sacrificed as a result of a choice is:

A) the opportunity cost, which can be objectively measured by anyone.
B) the opportunity cost, which can only be subjectively measured by the individual who chooses.
C) the explicit cost, which can be objectively measured by anyone.
D) the explicit cost, which can only be subjectively measured by the individual who chooses.
E) the accounting cost, which can only be objectively measured by an accountant.