Opportunity cost is best defined as the:
a. sum of all alternatives given up when a choice is made.
b. money spent once a choice is made.
c. highest-valued alternative given up when a choice is made.
d. cost of a good minus the satisfaction obtained from consuming it.
e. cost of capital resources used in the production of additional capital.
c
You might also like to view...
In response to banks entering into the insurance business, insurance companies have started to supply ________ insurance
A) debt B) credit C) equity D) currency
A move from F to G represents
A. an increase in quantity demanded.
B. a decrease in quantity demanded.
C. an increase in demand.
D. a decrease in demand.
Identify at least three key factors in the high-growth Asian economies' economic success
What will be an ideal response?
A stockholder owning 5 percent of a company's stock:
A. is guaranteed to receive 5 percent of the company's yearly profits. B. is personally responsible for 5 percent of the debts if the company goes bankrupt. C. has 5 percent of her personal assets vulnerable if the company goes bankrupt. D. gets 5 percent of the votes at the shareholders' meetings.