The highest valued alternative that must be given up in order to choose an option is called the:
a. opportunity cost. b. utility cost.
c. scarcity expense. d. disutility option.
a
Economics
You might also like to view...
A negative supply shock often results in:
a) a leftward shift of the AD curve. b) an increase in the aggregate price level and a decrease in aggregate output. c) no change in the price level. d) a drop in the unemployment levels.
Economics
Medicaid and SNAP (food stamps) are:
a. available only to families. b. counterproductive. c. forms of in-kind assistance. d. forms of cash assistance. e. both c and d.
Economics