If You Own a Building and You Decide to Use

question 141

Multiple Choice

If you own a building and you decide to use that building to open a book store,

• A) there is no opportunity cost of using this building for a book store because you own it.
• B) there is an opportunity cost of using this building for a book store because it could have been used in other ways.
• C) the opportunity costs equal the cost of inventory.
• D) the only cost relevant to this decision is the price you paid for the building.

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Definitions:

Eyewitness Testimony

Evidence provided by individuals who were present during an event, offering their personal observations and recollections.

Defense Attorney

A lawyer who represents the accused in legal proceedings, aiming to defend and protect their client's rights.

Alibi

A claim or evidence that someone was in another place at the time of a crime and therefore could not have committed it.

Interrogate

The process of asking questions, especially in a thorough or formal manner, often used to gather information or confirm details.