Which of the Following Statements Concerning Opportunity Costs Is False

question 45

Multiple Choice

Which of the following statements concerning opportunity costs is false?

• A)Opportunity costs are only expressed in money terms.
• B)Every choice involves opportunity costs.
• C)Opportunity costs are the highest-valued alternatives that must be forgone when a choice is made.
• D)The concept of opportunity cost is used to demonstrate scarcity.
• E)Economists refer to the forgone benefits of the next-best alternative as opportunity costs.

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Definitions:

Ionic Compounds

Compounds composed of ions held together by ionic bonds; typically formed when a metal reacts with a nonmetal or a polyatomic ion.

CH4

CH4, methane, is a simple alkane hydrocarbon with one carbon atom bonded to four hydrogen atoms, and is a major component of natural gas.

NH3

Ammonia, a colorless gas with a pungent smell, consisting of nitrogen and hydrogen (NH3).

Diatomic Elements

Molecules composed of only two atoms, of the same or different chemical elements.