The Opportunity Cost of Any Decision Option Is

question 22

Multiple Choice

The opportunity cost of any decision option is:

• A)The value to the decision maker of the least-best option.
• B)The total profit of the best option.
• C)The total costs of the least option.
• D)The value to the decision maker of the next best option.
• E)None of the above.

---

Definitions:

Night Attack on the Sanjo Palace

A famous scene depicted in Japanese art that portrays a dramatic 12th-century battle at the Sanjo Palace.

Loanable Funds

The funds available for borrowing in the financial markets, coming from savings and investments, used for loans.

Closed Economy

An economic system that does not engage in international trade, relying solely on its own internal markets.

Taxes Minus Transfers

The net fiscal contribution of an individual or sector, calculated by subtracting government transfers received from taxes paid.