Opportunity costs
A) are generally the same from individual to individual.
B) involve monetary rather than nonmonetary costs.
C) decrease as individuals become wealthier.
D) influence all economic decisions.

Question

Quizplus · Accepted Answer

Opportunity costs influence all economic decisions because every decision involves trade-offs and choosing one option means giving up the benefits of the next best alternative. Opportunity costs may vary from individual to individual and may involve both monetary and nonmonetary costs. They do not necessarily decrease as individuals become wealthier.

Opportunity Costs