Opportunity cost can be best defined as

A) all sunk costs.
B) the value of the best alternative given up when making a choice.
C) the explicit cost of an activity.
D) the cost of making one additional unit.
E) the cost of finding profit-making opportunities.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to invest in one option over another.

Alternative Given

A term used to describe a scenario or choice available apart from the primary option; however, without a specific economic or general established context, this phrase might be too broad or not specifically recognized as a distinct term.