At higher prices, what happens to the opportunity cost?A.It gets larger.B.There's no way to tell.C.It gets smaller.D.There's no difference.

An opportunity cost is*1 pointA cost common to all alternatives in question and not clearly or practically allocable to any of the alternativesThe profit foregone by selecting one alternative instead of anotherA cost that may be shifted to the future with little or no effect on current operationsThe difference in total costs that results from selecting one alternative instead of another

Which situation best illustrates an example of an opportunity cost?A.A restaurant offers new customers discounted rates in order to attract more loyal customers over time.B.A retailer decides to stop selling a certain brand of electronics because it has been in low demand.C.A factory increases wages for its workers but does not have enough money left over to invest in new machinery.D.A business owner performs a cost-benefit analysis to decide on a price for his newest product.

Opportunity cost

Which situation best illustrates the economic concept of opportunity cost?A.A business gives its employees a raise, so it cannot afford to buy any TV ads.B.A business takes out a large loan, so it is able to expand into a new market.C.A business decides to begin advertising its product in more foreign markets.D.A business plans to relocate to a new city after taxes increase in its home city.

From the perspective of the seller, opportunity costs refer to what a seller gives up in time and money in pursuing a particular sale.Group of answer choicestruefalse