Which of the Following Is Correct Concerning Opportunity Cost

question 68

Multiple Choice

Which of the following is correct concerning opportunity cost?

• A)Except to the extent that you pay more for them,opportunity costs should not include the cost of things you would have purchased anyway.
• B)To compute opportunity costs,you should subtract benefits from costs.
• C)Opportunity costs and the idea of trade-offs are not closely related.
• D)Rational people should compare various options without considering opportunity costs.

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Definitions:

Father-Stepmother Family

A family structure where a child is raised by their biological father and a stepmother.

Previous Marriage

A marriage that one or both individuals were involved in before their current relationship.

Nuclear Family Myth

The belief that the nuclear family, consisting of a mother, father, and their children, is the most natural and best unit for societal and individual well-being, even though many societies and cultures embrace diverse family structures.

Remarried Family

A family structure formed when one or both partners in a marriage have been previously married and may involve stepchildren.