The Opportunity Cost of Producing a Particular Good Refers To

question 135

Multiple Choice

The opportunity cost of producing a particular good refers to:

• A) how much of something else must be given up to produce one additional unit of the good.
• B) how much of a good can be produced with the existing technology and resources.
• C) the total cost of production, including wages, for all units of the good.
• D) the marginal cost of production in order to produce one additional unit of the good.

---

Definitions:

Equal Credit Opportunity Act

A U.S. law aimed at granting all individuals a fair opportunity to obtain credit, prohibiting discrimination based on race, color, religion, national origin, sex, marital status, age, or because someone receives public assistance.

Consumer Finance Corporation

A financial institution that provides loans to consumers for purchasing consumer goods and services.

Suitability

The appropriateness of a specific investment or financial decision to an individual's unique situation.

Fair Debt Collection Practices Act

A US federal law established to eliminate abusive practices in the collection of consumer debts, promote fair debt collection, and provide consumers with an avenue for disputing and obtaining validation of debt information.