The University Recently Inherited a Large Mansion from a Wealthy

question 95

Multiple Choice

The university recently inherited a large mansion from a wealthy alumnus.The university plans to use the mansion for faculty parties and to house distinguished guests.The opportunity cost of the mansion to the university is:

• A)zero because it was a gift.
• B)the original cost of building the mansion.
• C)the amount the university would receive if it sold the mansion.
• D)the cost of catering the parties at the mansion.

---

Definitions:

Valid

Something that is logically sound, well-founded, or legally binding, often used to describe arguments, contracts, or data.

Cultural Background

The cultural experiences and factors that shape an individual's or group's values, beliefs, and behaviors.

Reliable Survey

A survey method that consistently produces accurate and trustworthy results.

Valid Survey

A research tool that has been tested for reliability and accuracy, ensuring that it measures what it is intended to measure.