What Is the Economic Concept That Suggests That Using Money

question 35

Multiple Choice

What is the economic concept that suggests that using money for one children's program comes at the price of the lost ability to use that money on another children's program that might be more effective?

• A)Equilibrium
• B)Supply and demand
• C)Fixed cost
• D)Opportunity cost

---

Definitions:

Marginal Revenue

The change in total revenue generated by an additional unit of output.

Marginal Cost

The growth in aggregate costs linked to creating an extra unit of a product or service.

Pastry Chef

A professional cook specializing in the creation of desserts, pastries, breads, and other baked goods.

Average Product

The output per unit of input, calculated by dividing total output by the total quantity of input.