The Opportunity Cost of a Decision Is Measured in Terms

question 311

Multiple Choice

The opportunity cost of a decision is measured in terms of

• A) time.
• B) the price of the alternative we choose.
• C) the next best thing given up.
• D) the price of a new opportunity that arises.
• E) sunk cost.

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Definitions:

Retinal Disparity

The slight difference in images perceived by the left and right eyes, which contributes to depth perception.

Linear Perspective

A technique in art and photography that creates the illusion of depth and distance by converging parallel lines towards a single vanishing point.

Interposition

A visual cue in depth perception where one object partially blocks another, indicating the former is closer to the viewer.

Relative Luminance

A measure of the amount of light that is emitted or reflected by an object relative to a reference white point.