Which Statement Concerning Opportunity Costs Is False

question 4

Multiple Choice

Which statement concerning opportunity costs is false?

• A) Opportunity costs can always be expressed in money terms.
• B) Every choice involves opportunity costs.
• C) Opportunity costs are the highest-valued alternatives that must be forgone when a choice is made.
• D) The full cost of an activity includes the opportunity costs.
• E) Economists refer to the forgone benefits of the next-best alternative as opportunity costs.

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Definitions:

Sex Attractants

Substances often used in pest management that mimic the natural chemicals used by insects to attract mates.

Insect Pests

Species of insects that cause damage to crops, stored food, and structures, or that can pose health risks to humans and animals.

Natural Ecosystems

Ecosystems that occur naturally without human influence, consisting of a complex web of organisms and their physical environment.

Potential Pest Species

Organisms that are likely to cause harm or damage to crops, livestock, or ecosystems if their populations are not managed.