Question $14$

$3$ pts

The concept of opportunity costs, as it pertains to shareholders, can best be summarized by noting that $$

stockholders are missing out on the opportunity to fund high$-$NPV projects when their opportunity costs are reinvested

stockholders are foregoing interest payments that they could receive from the firm, or firms of similar risk when the firm elects to reinvest its earnings

stockholders are foregoing dividend payments that they could receive from the firm, or firms of similar risk, when the firm elects to reinvest its earnings

stockholders are missing out on the opportunity to fund low$-$NPV projects when their opportunity costs are reinvested