Q: one method for studying opportunity cost is to think in terms of. a: (a. risk and ability) (b. pros and cons) (c. tradeoffs) (d. trial and error)

The correct answer is option C, trade-offs. One method for studying opportunity cost is to think in terms of trade-offs. Trade-offs are used to describe and defined what an opportunity cost is. A trade-off is the preferred alternative between two options. When talking about economy, trade-offs refer to different decisions and sacrifices that must be made in order to get a product.

One method for studying opportunity cost is to think in terms of trade offs.

Opportunity cost of the next best option forgone when one option is chosen over other options. It is also known as implicit cost. Trade-off is the opportunity cost of taking a particular decision

For example, if a lady decides to leave her job where she earns 10,000 to go back to school, her opportunity cost is the salary she forgoes when she goes back to school.

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