Opportunity Cost Is

question 170

Multiple Choice

Opportunity cost is

• A) the combined value of all the alternatives not selected.
• B) the same thing as the money price of a good.
• C) the value of the next best alternative which was given up.
• D) based on the intrinsic value of the good itself.

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Definitions:

Woman

Refers to an adult human female.

Psychology

the scientific study of the mind and behavior, encompassing both conscious and unconscious phenomena, as well as thought and feeling.

Behaviourist

A psychologist or scientist who studies and interprets human and animal behavior in terms of observable actions and reactions.

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External elements including climate, geography, pollution, and sociocultural aspects that can influence an organism's growth, development, and existence.