The Opportunity Cost of Something You Decide to Get Is

question 312

Multiple Choice

The opportunity cost of something you decide to get is

• A) all the possible alternatives that you give up to get it.
• B) the highest valued alternative you give up to get it.
• C) the value of the item minus the cost you paid for it.
• D) the amount of money you pay to get it.

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Definitions:

Substantive Law

The part of law that deals with the rights and duties of people and the punishments for those who violate these laws.

Requests for Admissions

A pre-trial procedure in civil litigation where one party requests the other to admit the truth of certain facts, thereby narrowing the scope of the dispute.

Interrogatories

A set of formal written questions issued by one party in a lawsuit to another party, which must be answered under oath.

Demurrers

A legal pleading that objects to the sufficiency of the opposing party’s pleadings, without addressing the facts, and asks the court to dismiss the case on legal grounds.