Which of These Is NOT an Example of Opportunity Cost

question 180

Multiple Choice

Which of these is NOT an example of opportunity cost?

• A)Lobster catchers in Point Judith,Rhode Island continued to trap lobsters at the cost of depleting the lobster population.
• B)President George W.Bush's administration has pushed for oil exploration in the Arctic National Wildlife Refuge in Alaska at the cost of environmental preservation.
• C)Lobster catchers in Port Lincoln,Australia paid a licensing fee for the right to own lobster traps.
• D)The "bridge to nowhere" to be built near Anchorage,Alaska comes at the cost of adding to the federal budget deficit.

Understand the major events and life forms of the Devonian period.

Recognize the causes and effects of major mass extinctions.

Distinguish between the different methods used to date fossils and geological events.

Identify key evolutionary milestones in the history of life on Earth.

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Definitions:

Cost Per Equivalent Unit

A calculation used in process costing to allocate costs to partially completed units, considering them as fractions of whole units.

Ending Work

The work in process inventory that is yet to be completed at the end of an accounting period.

Process Inventory

Inventory that consists of items that are in the production process but have not yet been completed.

Cost System

An accounting system designed to capture, measure, and allocate costs associated with the production of goods or provision of services.