A college student who is enrolled in school full-time and not seeking employment is considered:
a. out of the labor force

A natural monopoly regulated with an average cost pricing rule is ________

A) efficient and incurs an economic loss B) inefficient and makes zero economic profit C) inefficient and makes an economic profit D) efficient and makes zero economic profit

Which of the following statements is FALSE about opportunity cost?

A) Cost is always foregone opportunity. B) Opportunity cost is the next best alternative. C) John wants a burger and fries. The concept of opportunity cost applies even though he has enough funds to buy both. D) Opportunity cost exists only for goods with monetary values.