[Solved] Opportunity cost of production of a commodity is -

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Q.	Opportunity cost of production of a commodity is -
A.	the cost that the firm could have Incurred when a different technique was adopted
B.	the cost that the firm could have incurred under a different method of production
C.	the actual cost incurred
D.	the next best alternative output
Answer» D. the next best alternative output
Explanation: The concept of opportunity cost is based on scar-city and choice. The opportunity cost of a commodity is the next best alternative commodity sacrificed. In other words opportunity cost of a commodity is forgoing the opportunity to produce alternative goods and services. If one commodity is produced another commodity is sacrificed.

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