How Are Changes in Opportunity Cost Related to Decision-Making Behavior

question 37

Multiple Choice

How are changes in opportunity cost related to decision-making behavior?

• A) The lower the opportunity cost of doing an activity X, the more likely activity X will be done.
• B) The higher the opportunity cost of doing activity X, the more likely activity X will be done.
• C) Changes in the opportunity cost play no role in decision-making.
• D) The lower the opportunity cost of doing activity Y, the more likely activity X will be done.
• E) The higher the opportunity cost of doing activity Y, the less likely activity X will be done.

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Definitions:

Unless

A conjunction used to indicate that a particular situation would occur only if there's an exception or condition not met.

Just In Case

A phrase used to describe a precautionary action taken to prepare for a possible future event or circumstance.

Conditional

A logical statement that has an if-then structure, implying that if one condition is met, then another condition follows.

Negation

In logic, the operation that takes a proposition to its opposite in truth value.