Which of the Following Statements Is True

question 116

Multiple Choice

Which of the following statements is true?

• A)The opportunity cost of a decision is equal to the explicit cost in monetary terms.
• B)The opportunity cost of a decision is the value of the best foregone alternative.
• C)Some economic decisions have zero opportunity cost.
• D)The opportunity cost of attending college is the same for all students at the same university but may differ among students at different universities.
• E)None of the above statements are true.

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Definitions:

Alcohol Myopia

A cognitive condition induced by alcohol consumption, characterized by a narrowed focus of attention and impaired judgment.

Intoxicated

A state of being under the influence of substances, such as alcohol or drugs, leading to altered mood, cognition, and motor function.

Ego Depletion

A state where individuals have a diminished capacity to exert self-control or engage in cognitive tasks, due to the depletion of a limited pool of mental resources.

Impulsivity

The tendency to act on whims and desires without considering the consequences or the appropriateness of the action.