The Opportunity Cost of a Good Increases as More of It

question 243

Multiple Choice

The opportunity cost of a good increases as more of it is produced because

• A) there is no such thing as a free lunch.
• B) resources are not equally productive in all activities.
• C) producing more of a good requires additional resources.
• D) the number of forgone alternatives also increases.
• E) people want the good less as more is produced.

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Definitions:

Self-concept

An individual's perception of themselves, encompassing beliefs, attitudes, and feelings about one's own identity and abilities.

Personality Constructs

Personality constructs are theoretical components that illustrate different aspects of an individual's personality, serving as foundational elements in the study of personality psychology.

Assessment

The process of evaluating or measuring someone's abilities, skills, or knowledge.