Choose the Correct Statements

question 113

Multiple Choice

Choose the correct statements. 1.Opportunity cost of a good is the increase in the quantity produced of one good divided by the decrease in the quantity produced of another good as we move along the PPF.
2.The opportunity cost of an action is the highest-valued alternative forgone.
3.Opportunity cost is a ratio.
4.There is no relationship between the opportunity cost of producing an additional good measured on the x-axis and the opportunity cost of producing an additional good measured on the y-axis.

• A)Statements 1 and 3 are correct.
• B)Statements 1 and 2 are correct.
• C)Statements 2 and 3 are correct.
• D)Statements 2 and 4 are correct.
• E)Statements 3 and 4 are correct.

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Definitions:

Powerlessness

A feeling or state where an individual believes they have no control over their circumstances or life situations.

Decisional Conflict

A state of uncertainty about which course of action to take, often occurring in the context of healthcare decisions when the options involve risk, loss, regret, or challenge to personal life values.

Informed Choice

A decision made by an individual based on a full understanding of the options, potential risks, and benefits, often involving medical treatments or procedures.

Adoption

The legal process through which an individual or couple becomes the legal and permanent parents of a child not biologically their own.