If there is no scarcity,
A) choices are no longer rational.
B) the opportunity cost of an action would be greater than its sunk cost.
C) all marginal benefits would equal zero.
D) an action would have zero opportunity cost.
E) the marginal cost of an action is greater than its marginal benefit.

Question

Quizplus · Accepted Answer

In a scenario where there is no scarcity, every resource is available in unlimited quantities, meaning that choosing one option does not require giving up another. Therefore, the opportunity cost, which is the value of the next best alternative foregone, would be zero because no sacrifice is made by choosing one option over another.

If There Is No Scarcity