Which of the Following Describes the Economic Meanings of Cost

Multiple Choice

Which of the following describes the economic meanings of cost and price?

A) Cost refers to what the buyers pay for the good, and price refers to what sellers receive when the good is sold.
B) Cost is what must be given up to produce a good, and price is what a seller receives when the good is sold.
C) They are the same, and they both mean what is received when a good is sold.
D) Cost refers to the price that buyers must pay to buy the good.
E) Cost is exchange worth, and price is dollar worth.