Which of the following statements concerning opportunity costs is false?
A) Opportunity costs are only expressed in money terms.
B) Every choice involves opportunity costs.
C) Opportunity costs are the highest-valued alternatives that must be forgone when a choice is made.
D) The concept of opportunity cost is used to demonstrate scarcity.
E) Economists refer to the forgone benefits of the next-best alternative as opportunity costs.
Correct Answer:
Verified
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A)the
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A)they create
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A)their price is too
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Q23: Economics is:
A)concerned with the problem of scarce
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Q26: Which economic concept is the closest to
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Q28: Which of the following statements is true?
A)Goods
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