The Opportunity Cost of Good a in Terms of Good

question 144

Multiple Choice

The opportunity cost of good A in terms of good B is equal to the

• A)money price of good A minus the money price of good B.
• B)money price of good B minus the money price of good A.
• C)ratio of the money price of good A to the money price of good B.
• D)ratio of the money price of good B to the money price of good A.
• E)money price of good A plus the money price of good B.

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Definitions:

Random Sampling

A method of selecting a sample from a population in such a way that each individual has an equal probability of being chosen, ensuring the representativeness of the sample.

Equal Chance

The principle that in a certain process, event, or situation, all outcomes or participants have the same probability or likelihood of occurring or being selected.

Correlation

A statistical measure that expresses the extent to which two variables change together; if the correlation is positive, as one variable increases, the other does as well.

Blind

The state or condition of lacking visual perception due to physiological or neurological factors.