Opportunity Cost Is Best Defined As

question 214

Multiple Choice

Opportunity cost is best defined as:

• A)marginal cost minus marginal benefit.
• B)the time spent on an economic activity.
• C)the value of the best foregone alternative.
• D)the money cost of an economic decision.

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Definitions:

Operant Conditioning

The learning of voluntary behavior through the effects of pleasant and unpleasant consequences to responses.

Unpleasant Stimulus

Any object, event, or situation that is undesirable or discomforting to an individual, often leading to avoidance behavior.

Modeling

The process of learning behavior by observing and imitating others, as proposed in Bandura's social learning theory.

Extinction

The disappearance or weakening of a learned response following the removal or absence of the unconditioned stimulus (in classical conditioning) or the removal of a reinforcer (in operant conditioning).