For an individual, opportunity costs
a. decrease as consumption increases.
b. include only the monetary costs of goods and services.
c. reflect resource scarcity.
d. reflect the fact that wants are unlimited.
e. reflect the fundamental assumption that "more is better."
C
Economics
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A player can choose among three strategies: T, M, and B. Nevertheless, strategy B is dominated by strategy T. This means that
A) strategy T is always played. B) strategy B is never played. C) strategy B will be part of a Nash equilibrium. D) strategy M is never played.
Economics
If frictional unemployment increased, but structural unemployment decreased by more, the natural rate of unemployment:
a. Would increase b. Would not change c. Would decrease d. Would be affected in an unpredictable manner
Economics