Multiple Choice
Opportunity cost is:
A) The sum of the value of all the forgone activities.
B) The value of the second and third actions forgone.
C) The next best forgone opportunity.
D) The value of the action chosen, net of the value of the next best action.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Ceteris paribus is used in economics:<br>A)To help
Q2: Which statement is true?<br>A)The marginal benefit of
Q3: Suzie spends her Thursday afternoon sleeping.If she
Q4: Elina is contemplating doing a degree.If she
Q5: Elina is contemplating doing a degree.If she
Q7: A sunk cost:<br>A)Is the opportunity cost of
Q8: Ceteris paribus means:<br>A)Only two variables are moving
Q9: Opportunity costs:<br>A)Include both explicit and implicit costs.<br>B)Include
Q10: As an economist you observe that as