Question

There is no such thing as a free lunch.This statement best reflects the fact that a. consumers are unwilling to pay for a good unless it provides them with value. b. an opportunity cost is always present when scarce resources are used to produce a good. c. it generally requires enormous effort to search out the best place to eat lunch. d. the value of a good to consumers will remain unchanged as they have more of it.

Answer 1

Answer: Option B

Explanation: Opportunity cost refers to the of loss of profit when an individual or firm chooses one alternative over other.

The statement in the given case, depicts the opportunity cost one has to pay of using the scarce resources that could be sued on different alternatives.

The lunch is never free depicts that one could have used it in other alternatives that may have produced some economic benefits.

Hence, the correct option is B.