Question

Which of the following statements is FALSE about opportunity​ cost? A. Opportunity cost exists only for goods with monetary values. B. Cost is always foregone opportunity. C. When a person buys two​ items, the concept of opportunity cost applies even though she can afford to buy both items. D. Opportunity cost is the next best alternative.

Answer 1

Answer:

A. Opportunity cost exists only for goods with monetary values.

Explanation:

Fundamentally, these are costs in economics used in analysis of a project, and it can also be used for calculation of cost benefits. It is generally known to measure or do all calculation that deals with the current and also forgone alternatives in any condition but this is mainly in economics where it is mostly used.

It is said that when a person buys two or more items, the concept of opportunity cost applies even though she can afford to buy both items and also known to be the best alternative. Here also, cost is notified as foregone opportunity.