The Nifty Gum Co.has purchased a large parcel of land for $1 million.The company recently discovered that the land is contaminated and is worthless to all possible buyers.The opportunity cost of the land is
A) $0.
B) $1 million.
C) some amount greater than $0 but less than $1 million.
D) equal to the cost of the factory that was planned to be built there.
Correct Answer:
Verified
Q1: Simon is given a free ticket to
Q1: A firm's marginal cost can always be
Q2: When buying a piece of equipment,it is
Q4: Applications to MBA programs rose during the
Q4: Four years after graduating from college you
Q5: An accountant may amortize the expense of
Q9: Johnny has worked as a CPA for
Q10: Sarah earns $40,000 per year working for
Q14: If a firm buys a building so
Q19: Fixed costs are
A) a production expense that
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents