Answer:
Opportunity cost is the cost of making one decision over another. This can come at the cost of our time, money, effort, or enjoyment. We make these decisions in our everyday lives without being conscious of it.
When we make a decision to purchase something, we consider several factors before making the final decision. This is done so often that it is subconscious. We are able to do this because our brain stores previously made decisions and uses that information in the decision process. Our brain best optimizes how much we value each factor such as price, time, and effort, and what the trade-off is between choices. We choose the best option and forgo the rest.
Explanation:
