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:

Hypothetical Proposition

A conditional statement expressing a hypothesis and a consequence.

Hypothetical Proposition

A proposition or statement that is conditional and asserts a possible outcome if certain conditions are met.

Antecedent

In logic, the first half of a hypothetical proposition; in general, any preceding event, condition, or cause.

Consequent

In logic, the consequent is the second part of a conditional statement, typically following "then." For example, in "If P, then Q," Q is the consequent.