Which of the following statements about opportunity cost is FALSE? a)Opportunity

Question

Which of the following statements about opportunity cost is FALSE? a)Opportunity cost is synonymous with explicit cost. b)Opportunity cost may be larger than monetary cost. c)The real or opportunity cost of something is what you must give up to get it. d)Opportunity cost includes both explicit and implicit costs. Which of the following statements about opportunity cost is FALSE? a)Opportunity cost is synonymous with explicit cost. b)Opportunity cost may be larger than monetary cost. c)The real or opportunity cost of something is what you must give up to get it. d)Opportunity cost includes both explicit and implicit costs.

Explanation / Answer

Answer) a)Opportunity cost is synonymous with explicit cost.

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