Suppose You Had $1,000 to Spend

question 117

Multiple Choice

Suppose you had $1,000 to spend.You choose to spend the money on new clothes rather than on a new surfboard,your second choice or 1,000 lottery tickets,your third choice.

• A)Your opportunity cost of spending the money on clothes is the $1,000 spent.
• B)Your opportunity cost of spending the money on clothes is not buying the surfboard.
• C)Your opportunity cost of spending the money on clothes is not buying the surfboard and the lottery tickets.
• D)There is no opportunity cost in this instance.

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Definitions:

Antitrust Enforcement

Government actions aimed at promoting competition among businesses by preventing monopolies, cartels, and other practices that restrict free trade.

Blurred Distinction

A situation where the clear differentiation between two concepts, categories, or objects becomes vague or ambiguous.

American And Foreign Companies

American and foreign companies differ mainly in their country of incorporation and operation, impacting their regulatory, tax, and market environment.

Federal Trade Commission

An independent agency of the United States government, established in 1914, whose principal mission is the promotion of consumer protection and the elimination and prevention of anticompetitive business practices.