Opportunity cost is best defined as:
a. the sum of all alternatives given up when a choice is made.
b. the money spent once a choice is made.
c. the highest-valued alternative given up when a choice is made.
d. the difference between the cost price and the selling price of a good.
e. the cost of capital resources used in the production of additional capital.
c
Economics
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A derivative is a financial instrument that derives its value from another financial instrument, an underlying asset, or indices.
a. true b. false
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Someone who values a lottery at its expected value is
a. A risk lover b. Risk neutral c. Risk averse d. most likely to play a lottery
Economics