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Which describes an opportunity cost: 
a. level of satisfaction consumers feel over purchases.
b. meet fixed expenses and allow for discretionary spending.
c. the benefits of the best alternative option that are given up by a particular decision.
 
 

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Anne Gillian Duero
Anne Gillian DueroLv10
19 Oct 2020

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Related questions

Which of the following best describes the concept of utility and economic behavior?

a) The trade-off between spending and saving

b) The satisfaction from consuming goods or services

c) The desires of consumers for products that are useful

d) The effort required to generate income

 

Which of the following best describes the kinds of decisions that result from using cost-benefit analysis?
A. An outcome with benefits that are greater than the costs.
B. An outcome that is rational if only monetary costs and benefits are included.
C. A maximum amount of profit for both producers and consumers.
D. A high sale price for producers and low buying price for consumers.

Which of the following best describes Total costs?

A. The cost incurred on additional unit of output

B. The cost incurred on one unit of output on an average

C. The sum of total variable costs and total fixed costs

D. The cost of the next best alternative given up

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