Author Question: The opportunity cost of an activity a. depends on the individual's subjective values and opinions ... (Read 35 times)

mwit1967 · **on:** Jul 1, 2018

The opportunity cost of an activity
a. depends on the individual's subjective values and opinions
b. is the same for everyone
c. must be calculated and known before undertaking that activity
d. is irrelevant to decision making
e. is not related to time

Question 2

The opportunity cost of an activity is
a. zero if you choose the activity voluntarily
b. the amount of money spent on the activity
c. the value of the best alternative not chosen
d. the sum of benefits from all of the sacrificed alternatives
e. the difference between the benefits and the costs of that activity