The Concept of Opportunity Cost

question 47

Multiple Choice

The concept of opportunity cost:

• A)is irrelevant in command economies because of central planning
• B)suggests that resources are often unlimited in quantity
• C)is irrelevant if the production possibilities curve is shifting to the right
• D)suggests that inexhaustible wants can be fulfilled
• E)suggests that the use of resources in any particular line of production means that alternative outputs must be forgone

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