There is no opportunity cost of obtaining
A) a free good.
B) a scarce good.
C) any good a person acquires, as long as they value it highly enough.
D) any good a person acquires, as long a they think it is worth the effort.
A
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According to a recent study, "Stricter college alcohol policies, such as raising the price of alcohol, or banning alcohol on campus, decrease the number of students who use marijuana"
On the basis of this information, how would you describe alcohol and marijuana? A) The two goods are substitutes in consumption. B) The two goods are complements in consumption. C) They are both luxury goods. D) There is no relationship between the two goods.
A society that is inside its production possibilities frontier is efficient.
Answer the following statement true (T) or false (F)