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:

Foreign Government

The governing authority of a nation, state, locality, or community outside of one's own country.

Direct Quote

The rate of foreign exchange denoted in the national currency per each foreign currency unit.

British Pounds

The official currency of the United Kingdom, also known as GBP (Great British Pounds).

Expropriation

The act of a government taking privately owned property, typically for public use or in the public interest, with or without compensation.