Steven Lives in a Big City Where There Is a Shortage

question 132

Multiple Choice

Steven lives in a big city where there is a shortage of parking. He has a parking spot in his driveway where he parks his car. Which of the following statements is most correct?

• A) Steven has a lower opportunity cost of owning a car than his neighbor, who must rent a parking spot.
• B) The opportunity cost of using the spot is zero, because Steven owns the house.
• C) The opportunity cost of using the parking spot is the price he could charge someone else for using the spot.
• D) The opportunity cost depends on how much Steven's mortgage payment is.

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Definitions:

Dreams and Aspirations

Individual desires for the future or goals that a person hopes to achieve.

Problem Discourse

Conversations or dialogue that focus primarily on issues, difficulties, or concerns to be addressed or resolved.

Dominant Narrative

The prevailing story or discourse within a society or group that often marginalizes alternative perspectives or experiences.

Preferred Narrative

This is an individuals' chosen story or narrative about their life, often constructed in a way that highlights certain experiences and values over others.