Which Statement Represents a Rational Application of Opportunity Cost

question 100

Multiple Choice

Which statement represents a rational application of opportunity cost?

• A) The value of the choice must be greater than or equal to the cost of the next-best alternative.
• B) The value of the next-best alternative must be greater than or equal to the cost of the choice.
• C) Opportunity cost is useful for evaluating a decision after the fact,but not during the decision-making process.
• D) The value of the choice must be greater than the sum of all available alternatives.
• E) The value of the next-best alternative is irrelevant since the alternative was not selected.

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Definitions:

Autonomous Dimensions

Refers to the various independent factors or aspects in systems or processes that operate or change without external control.

Team-Oriented

An approach or work culture that emphasizes collaboration, teamwork, and collective effort towards common objectives.

Role Congruity Theory

A theory suggesting that individuals are perceived more favorably when their behaviors are congruent with the roles traditionally associated with their social groups.

Underrepresentation

The inadequate or disproportionately low representation of a particular group or category within a certain context or field.