If a Firm Buys a Delivery Van for $18,000 and Can

question 99

Multiple Choice

If a firm buys a delivery van for $18,000 and can resell it in 2 years for $7,500, the opportunity cost of using the van is

• A)$10,500.
• B)$7,500.
• C)$18,000.
• D)$3,750.

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Definitions:

Market Size

The total volume of sales or potential sales for all providers of a particular product or service within a specific market.

Population Growth

An increase in the number of individuals in a population, typically measured over a specific period of time.

Country Market Assessment

Involves evaluating the potential of a specific geographic market by analyzing its economic, social, political, and cultural factors.

Trade Surplus

A situation where a country's exports exceed its imports, resulting in a positive balance of trade.