Answer:
What must be given up to acquire it
Explanation:
Here is the full question :
Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant.
What is the opportunity cost of something?
The time it takes to do something
What must be given up to acquire it
Cost to produce it
What you pay
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over another alternative.
By choosing to open her store, my aunt has to forgo her accounting job. this is her opportunity cost. so her opportunity cost is $55,000
