The value of a business owner's time is an example ofGroup of answer choicesan opportunity cost.a fixed cost.an explicit cost.total revenue.

From the perspective of the seller, opportunity costs refer to what a seller gives up in time and money in pursuing a particular sale.Group of answer choicestruefalse

Opportunity cost refers to

Which of the following best defines the concept of opportunity cost in economics?  A. The monetary value of a resource or product in the market.  B. The total cost of producing a good or service, including both explicit and implicit costs.  C. The benefit or value that could have been gained from the next best alternative when making a choice.  D. The total value of all goods and services produced within a country in a given time period.

An opportunity cost is*1 pointA cost common to all alternatives in question and not clearly or practically allocable to any of the alternativesThe profit foregone by selecting one alternative instead of anotherA cost that may be shifted to the future with little or no effect on current operationsThe difference in total costs that results from selecting one alternative instead of another

An example of an cost is when a firm issues more equity and an entrepreneur increases leisure time.