An opportunity cost is:
a. the difference in total costs which results from selecting one alternative instead of another.
Selected: b. the benefit forgone by selecting one alternative instead of another.This answer is correct.
c. a cost which may be saved by not adopting an alternative.
d. a cost which may be shifted to the future with little or no effect on current operations.
Correct! By definition, an opportunity cost is the benefit we give up by choosing one alternative over another.