Which of the Following Most Accurately Reflects the Opportunity Cost

question 119

Multiple Choice

Which of the following most accurately reflects the opportunity cost to a pharmacist who drives a taxi?

• A) the dollars spent on his previously acquired education in pharmacy
• B) the revenue derived from operating the cab
• C) zero if the pharmacist received his education on a scholarship that paid his full tuition
• D) the value of the pharmacist's time in its highest valued use other than driving a cab

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Definitions:

Liquidation

The process of closing a business and distributing its assets to claimants.

Capital Contribution

The cash, property, or other assets that investors or owners provide to a business in exchange for an ownership interest or equity.

RULPA

The Revised Uniform Limited Partnership Act, designed to update and standardize the law governing limited partnerships across the states.

Limited Partner

An investor in a limited partnership, who contributes capital but does not take part in management and is only liable to the extent of their investment.