If You Own a Condo and You Decide to Lease

question 150

Multiple Choice

If you own a condo and you decide to lease it to your cousin,

• A) there is no opportunity cost of leasing the condo because you own it.
• B) there is an opportunity cost of leasing the condo because you could have chosen to live in it.
• C) there is no opportunity cost of leasing the condo because you collect rent from your cousin.
• D) the only cost relevant to this decision is the price you paid for the condo.

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Definitions:

Traditional Nuclear Family

A family structure comprising two parents (male and female) and their biological or adopted children, historically considered the societal norm.

Suburbs

Residential areas located on the outskirts of a city, characterized by lower population density than the inner city and often designed for residential use.

Patriarchal Family

A family structure where men hold primary power and predominate in roles of political leadership, moral authority, social privilege, and control of property.

Nuclear Family

A family unit consisting of two parents (traditionally a married couple) and their biological or adopted children living in the same residence.