The value of a business owner's time is an example ofGroup of answer choicesan opportunity cost.a fixed cost.an explicit cost.total revenue.

The value of a business owner's time is an example of an opportunity cost.

Here's why:

1. Opportunity cost is a term used in economics to describe the cost of forgoing the next best alternative when making a decision.

2. In the context of a business owner's time, if they choose to spend their time on one task, they are forgoing the opportunity to spend that time on another task.

3. For example, if a business owner decides to spend their day making sales calls, the opportunity cost could be the time they could have spent on strategic planning or other tasks that could potentially bring in more revenue in the long run.

4. Therefore, the value of a business owner's time can be considered an opportunity cost because it represents the potential benefits that could have been gained from choosing a different course of action.