Which of the Following Statements Correctly Uses the Concept of Opportunity

question 71

Multiple Choice

Which of the following statements correctly uses the concept of opportunity cost in decision making? I. "Because my secretary's time has already been paid for, my cost of taking on an additional project is lower than it otherwise would be."
II) "Since NASA is running under budget this year, the cost of another space shuttle launch is lower than it otherwise would be."

• A) I is true, and II is false.
• B) I is false, and II is true.
• C) I and II are both true.
• D) I and II are both false.

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Definitions:

Jurisdiction

The official power to make legal decisions and judgments, often referring to the geographic area or the scope of authority.

Tort Action

A lawsuit seeking to recover damages for a civil wrong that resulted in injury or harm to an individual.

Falsely Alleged

Incorrectly or unjustly accused of something, often without sufficient evidence or just cause.

Contaminated Juice

Juice that has been tainted or polluted, making it unsafe for consumption and potentially harmful.