Each of these statements is arguably false. Explain why. --The opportunity cost

Question

Each of these statements is arguably false.  Explain why.
--The opportunity cost of a decision is the sum of all alternatives foregone. --A "change in quantity demanded" reflects the influence of such things as advertising, faddish enchantment with a product, or marked changes in income, whereas a "change in demand" reflects essentially the influence of the buyer's view of changing prices. --Natural monopolies achieve a minimum efficient scale at relatively low levels of output. --A consumer is "happier" (achieving greater utility) the farther to the left (therefore "higher") the consumer is on any given indifference curve. --A consumer is happiest when the marginal utility of each item acquired is identical. Each of these statements is arguably false.  Explain why.
--The opportunity cost of a decision is the sum of all alternatives foregone. --A "change in quantity demanded" reflects the influence of such things as advertising, faddish enchantment with a product, or marked changes in income, whereas a "change in demand" reflects essentially the influence of the buyer's view of changing prices. --Natural monopolies achieve a minimum efficient scale at relatively low levels of output. --A consumer is "happier" (achieving greater utility) the farther to the left (therefore "higher") the consumer is on any given indifference curve. --A consumer is happiest when the marginal utility of each item acquired is identical.

Explanation / Answer

1.In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources

2 A "change in demand" reflects the influence of such things as advertising, faddish enchantment with a product, or marked changes in income, whereas a "change in quantity demanded" reflects essentially the influence of the buyer's view of changing prices.

3. Natural monopolies achieve a minimum efficient scale at relatively large levels of output.

4. A consumer is "happier" (achieving greater utility) the farther to the right (therefore "higher") the consumer is on any given indifference curve.

5 A consumer is happiest when the marginal utility of each item acquired is more

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