Multiple Choice
Suppose that you own a house. What is the opportunity cost of living in the house?
A) The opportunity cost is the rent you could have received from a tenant if you didn't live there.
B) There is no opportunity cost because you own the house.
C) The opportunity cost is the cost of your monthly mortgage payment plus bills.
D) There is no opportunity cost unless you could set up a business in the house.
Correct Answer:
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