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Author Question: Which of the following statements is FALSE about opportunity cost? A) Cost is always foregone ... (Read 120 times)

dakota nelson

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on: Jun 29, 2018
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.


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kjohnson

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


dakota nelson

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Reply 2 on: Jun 29, 2018
Excellent

marict

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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