Exhibit 11.7

-Refer to Exhibit 11.7,which shows the demand and supply curves of a resource.The opportunity cost of the resource in equilibrium equals _____

Name: Exhibit 11.7 -Refer to Exhibit 11.7,which shows the demand and supply curves of a resource.The opportunity cost of the resource in equilibrium equals _____
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Question

Exhibit 11.7
 
-Refer to Exhibit 11.7,which shows the demand and supply curves of a resource.The opportunity cost of the resource in equilibrium equals _____

Quizplus · Accepted Answer

In equilibrium, the opportunity cost of a resource is equal to the price at which the quantity demanded equals the quantity supplied, which is $15,000 according to the given options.

Exhibit 11.7 -Refer to Exhibit 11.7,which Shows the Demand and Supply Curves