After graduating from college,Jim had three choices,listed in order of preference:(1) Move to Florida from Philadelphia(2) work in a car dealership in Philadelphia,or(3) play soccer for a minor league in Philadelphia.His opportunity cost of moving to Florida includes
A) the benefits he could have received from playing soccer
B) the income he could have earned at the car dealership
C) both a and b
D) cannot be determined from the given information
Correct Answer:
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Q4: James used $200,000 from his savings account
Q5: In the short-run:
A)All costs are variable
B)Some costs
Q6: A business owner makes 50 items a
Q7: A business owner makes 1000 items a
Q8: You and two partners start a company.However,your
Q10: The opportunity cost of an action:
A)is equal
Q11: Accountants and Economists differ in their calculations
Q12: A business owner makes 50 items a
Q13: James used $250,000 from his savings account
Q14: Opportunity costs arise due to
A)Resource scarcity
B)Interest rates
C)Limited
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