If Ripco owns the building where it operates, then if
a. the firm pays no rent, there is no opportunity cost
b. the firm does not rent the building to anyone else, there is no opportunity cost
c. the firm pays no rent, there is an opportunity cost
d. its usage of the building precludes it from renting to anyone else, there is an opportunity cost
e. the firm could use the building for other things, there is no opportunity cost
D
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An increase in demand is reflected as a rightward (outward) shift of the demand curve and is caused by an increase in price
a. True b. False Indicate whether the statement is true or false
The "ceteris paribus" clause in the law of supply allows which of the following factors to change?
A. the price of an input B. technology C. the number of sellers D. the price of the good supplied