Answer to Question #66163 in Microeconomics for usman

Question #66163
Which of the following decisions has the greater opportunity cost? Why?
a. A decision to use an undeveloped lot in Tokyo's financial district for an apartment building.
b. A decision to use a square mile in the desert for a gas station.
what is the answer kindly tell me
1
Expert's answer
2017-03-13T11:38:06-0400
a) Apartment in Tokyo will have the highest opportunity cost, because Tokyo has the highest land prices.
b) Has a very low opportunity cost, because the land is a desert has very low value.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS