Opportunity cost is the
A. cost incurred when one fails to take advantage of an opportunity.
B. cost incurred in order to increase the availability of attractive opportunities.
C. cost of the best option forgone as a result of choosing an alternative.
D. drudgery of the undesirable aspects of an option.
Answer: C
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A) rises; rises B) rises; falls C) falls; rises D) falls; falls
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A) predicts all actions involving uncertainty. B) predicts no actions involving uncertainty. C) predicts some, but not all, actions involving uncertainty. D) predicts only one in three actions involving uncertainty.
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a. True b. False Indicate whether the statement is true or false
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a. True b. False Indicate whether the statement is true or false