Which of the Following Statements About the Opportunity Cost of an Action

question 252

Multiple Choice

Which of the following statements about the opportunity cost of an action is the most accurate?

• A) It can be objectively determined only by economists.
• B) It can be determined by considering both the benefits that flow from as well as the monetary costs incurred as a result of the action.
• C) It is a subjective valuation that can be determined only by the individual who chooses the action.
• D) It can be determined by adding up the bills incurred as a result of the action.

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