Which of the Following Statements Regarding Opportunity Costs Is True

question 20

Multiple Choice

Which of the following statements regarding opportunity costs is true?

• A)Opportunity costs are recorded as an expense since they are a cost of accepting another option.
• B)Opportunity costs are always incremental.
• C)Opportunity costs are unavoidable.
• D)The same decision will be reached whether or not opportunity costs are considered in an incremental analysis.

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Definitions:

Drinking Blood

is the consumption of blood as a cultural, religious, or dietary practice, seen in various societies and contexts.

Taboo

A norm ingrained so deeply that even thinking about violating it evokes strong feelings of disgust, horror, or revulsion.

Sanctions

Positive or negative reactions to the ways that people follow or disobey norms, including rewards for conformity and punishment for violations.

Norms

Social rules or standards that dictate expected behaviors within a group or society.