The cost of the next best alternative foregone. For example, if you use a piece of land to grow wheat, the opportunity cost is the value of the rice you could have grown instead.
The textbook systematically organizes topics to build a strong foundation in microeconomic principles: tr jain vk ohri microeconomics class 11 pdf free
CBSE marks heavily depend on using "keywords" found in the TR Jain text. The cost of the next best alternative foregone