Question
THESE ARE BOTH MULTI SELECT, please select all that apply/true. QUESTION 13. Opportunity costs A. are only hypothetical B. are shadow costs of forgone alternatives
THESE ARE BOTH MULTI SELECT, please select all that apply/true.
QUESTION 13. Opportunity costs
A. are only hypothetical
B. are "shadow" costs of forgone alternatives
C. reflect a clear choice of the next best alternative
D. are measured with the cost of the alternative
E. would be the same as outlay costs if the alternative were chosen
F. increase as alternative become more attractive
QUESTION 14 If the price of a good starts out below the equilibrium price without a price control,
A. then suppliers will supply less, pushing the price down
B. consumers will demand more than the equilibrim quantity
C. suppliers will exit the market, decreasing supply
D. consumers demand will increase to bid the price up
E. the market starts with a surplus of supply over demand
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