Which of the following statements is FALSE about opportunity ...

[dakota nelson]

Which of the following statements is FALSE about opportunity cost?
 
  A) Cost is always foregone opportunity.
  B) Opportunity cost is the next best alternative.
  C) John wants a burger and fries. The concept of opportunity cost applies even though he has enough funds to buy both.
  D) Opportunity cost exists only for goods with monetary values.

Question 2

An external cost, such as the cost generated by pollution, is
 
  A) a cost paid by consumers of the product.
  B) a cost paid by producers of the product.
  C) a cost paid by a third party or by society at large.
  D) not a true opportunity cost of production.

[kjohnson]

Answer to Question 1

D

Answer to Question 2

C

[dakota nelson]

Thanks for the timely response, appreciate it

[ryhom]

TYSM