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:

Effective Communication

The delivery and exchange of information or ideas in a way that is received and understood as intended by all parties involved.

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A state of having a positive and confident evaluation of oneself, recognizing one's own worth and capabilities.