The Opportunity Cost of Building an Additional Car Park at Your

question 43

Multiple Choice

The opportunity cost of building an additional car park at your university is:

• A) The cost of the labour, concrete, etc. used to build the car park.
• B) The value of the land used in its next best alternative use, and the cost of the labour, concrete, etc. used to build the car park.
• C) The value of the land and resources used in all of their alternative uses.
• D) Infinite; we cannot estimate it.

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Definitions:

Ganglion Cells

A type of neuron located in the retina that transmits visual information from the photoreceptors to the brain.

Bipolar Cells

Type of neuron found in the retina that acts as a critical relay between photoreceptors and ganglion cells, contributing to the preliminary processing of visual information.

Optic Nerve

A cranial nerve that transmits visual information from the retina to the brain.

Ganglion Cells

Retinal neurons that gather visual data from photoreceptors and relay it through the optic nerve to the brain.