If a business owner chooses to invest in a new project instead of continuing their current job, which of the following best describes the opportunity cost?

Opportunity cost is what a person gives up when they make a choice. In this case, if a business owner decides to invest in a new project instead of continuing their current job, the opportunity cost is the income they would have earned from their job. For example, if the owner could have made $50,000 at their job but chooses to start a new project, that $50,000 is the opportunity cost. It represents the benefits they forego to pursue the new project. Understanding opportunity cost helps business owners make better decisions by considering what they might lose when choosing one option over another.