Multiple Choice
Which of the following statements are correct?
I. The ʺhighest-valued alternative given up to get somethingʺ is the opportunity cost.
II. Wealthy economies donʹt experience opportunity costs.
III. Scarcity creates opportunity costs.
A) I and II
B) I and III
C) I only
D) I, II, and III
Correct Answer:
Verified
Correct Answer:
Verified
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