Item$2$

$2$points

Time Remaining $1$ hour $59$ minutes $4$ seconds

$01$:$59$:$04$

Item $2$

Time Remaining $1$ hour $59$ minutes $4$ seconds

$01$:$59$:$04$

Which of the following statements is NOT true about opportunity cost?

multiple choice

The opportunity cost is equal to the slope of the Production Possibility Curve $($Frontier$).$

The definition of opportunity cost is what is given up to obtain a good.

When someone has a lower opportunity cost to make something, they have the absolute advantage in production.

There is opportunity cost to every decision we make and every action we take.