Which of the Following Is NOT True of Opportunity Cost

question 56

Multiple Choice

Which of the following is NOT true of opportunity cost?

• A) Opportunity costs are subjective because they depend upon how the decision-maker values his or her options.
• B) Opportunity costs are only the monetary costs of lost options.
• C) Opportunity costs are the highest-valued alternative sacrificed in order to choose an option.
• D) Only the decision-maker can determine his or her opportunity costs for any particular action.

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Definitions:

Unappreciative Leaders

Managers or supervisory figures who fail to recognize or value the efforts and contributions of their team members.

Customer Needs

The requirements or desires that consumers seek to fulfill with a product or service, which can drive their purchasing decisions.

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business or organization, influencing its functioning and performance.

Complex Pattern

A configuration or series of interconnected elements that is complicated and not easily understood or analyzed.