You Own a Building That Has Four Possible Uses: a Cafe

question 239

Multiple Choice

You own a building that has four possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the building in each use is $2,000; $3,000; $4,000; and $5,000, respectively. You decide to open a hardware store. The opportunity cost of using this building for a hardware store is

• A) $2,000, the value if the building is used as a cafe.
• B) $3,000, the value if the building is used as a craft store.
• C) $10,000, the sum of the values if the building is used for a cafe, a craft store, or a bookstore.
• D) $5,000, the value if you rented the building to someone else to use as a bookstore.

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Definitions:

Birthweight

The weight of a baby at birth, an important indicator of neonatal health and development.

Wechsler Adult Intelligence Scale

A standard psychological test for measuring adult intelligence in various cognitive domains.

Population Standard Deviation

A measure of the dispersion or variability within a full population data set.

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The original, unmodified scores obtained in any assessment without adjustments or transformations.