Azure SQL Database Business Critical is indeed more expensive compared to Azure SQL Database Serverless, but it provides the high availability and resilience required in the scenario.
Azure SQL Database Serverless can be more cost-effective, particularly for infrequent, intermittent, or unpredictable workloads, because you pay for compute resources only when the database is active. However, it doesn't inherently guarantee the same level of high availability, resilience, and automatic failover without data loss across zones as the Business Critical tier.
Azure SQL Database Business Critical best meets all the requirements, even though it may not be the most cost-effective option. If cost is a primary concern and the high availability requirements can be slightly relaxed, Azure SQL Database Serverless could be considered. However, based on the requirements stated, Business Critical is the recommended choice.