What Is Another Name for the Opportunity Cost of a Commodity

question 37

Multiple Choice

What is another name for the opportunity cost of a commodity?

• A)marginal rate of substitution (MRS)
• B)marginal rate of transformation (MRT)
• C)revealed comparative advantage
• D)marginal rate of return

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Definitions:

Explicit Attitude

Attitudes that people consciously endorse and can easily report, reflecting deliberate beliefs and feelings.

Automatic Association

The unconscious linking of two concepts or objects together in one's mind, which can influence attitudes and behavior without conscious awareness.

Implicit Attitudes

Unconscious beliefs or feelings toward objects, people, or situations that influence our responses and behavior.

Explicit Attitudes

Attitudes and beliefs that are consciously recognized and expressed by individuals.