Economists Measure Opportunity Cost

question 74

Multiple Choice

Economists measure opportunity cost

• A) only when it is on the margin.
• B) as the best thing given up.
• C) as the sum of all forgone opportunities.
• D) as the same as marginal benefit.
• E) as equal to the sum of all the sunk costs.

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Definitions:

Unicellular Eukaryotes

Organisms that consist of a single cell and have a nucleus enclosed within membranes, unlike prokaryotic cells.

Protists

Eukaryotic organisms that are not plants, animals, or fungi and are often unicellular, such as amoebas or algae.

Bacteria

Single-celled microorganisms that can exist either as independent organisms or as parasites, with some causing diseases and others being beneficial.

Heterotrophic

Describes organisms that obtain their energy by consuming other organisms, as they cannot synthesize their own food.