Shirley can choose between peanut butter pretzels and caramel coated popcorn for her evening snack. According to economists, her _____ cost of consuming caramel coated popcorn would be the forgone peanut butter pretzels.
a. internal
b. opportunity
c. average
d. transaction
e. social
Question 2
In which market structure model(s) is product differentiation a significant feature?
a. Perfect competition
b. Monopolistic competition
c. Monopoly
d. Oligopoly
e. Both perfect competition and monopolistic competition