Whenever a good is purchased:
A)the cost of the good is its opportunity cost.
B)the cost of the good is easy to measure in terms of the price paid for it.
C)overall efficiency increases.
D)scarcity will increasingly constrain the future availability of the good.

Question

Quizplus · Accepted Answer

The cost of the good is not just the price paid for it, but also the opportunity cost of the next best alternative forgone. Therefore, the best choice is A - the cost of the good is its opportunity cost.

Whenever a Good Is Purchased