You Own a Building That Has Four Possible Uses: an Internet

question 17

Multiple Choice

You own a building that has four possible uses: an Internet cafe,a coffee store,an ice cream store,and a bookstore.The value of the building in each use is $2,000; $3,000; $4,000; and $5,000,respectively.You decide to open an ice cream store.The opportunity cost of using this building for an ice cream store is

• A) $2,000, the value if the building is used as an Internet cafe.
• B) $3,000, the value if the building is used as a coffee store.
• C) $3,333, the average of the values if the building is used for either an Internet cafe, a coffee store, or a bookstore.
• D) $5,000, the value if the building is used for a bookstore.

---

Definitions:

Difficult Choices

These refer to challenging decisions that often involve a degree of sacrifice or risk, and are typically made in complex situations with significant consequences.

Unsympathetic Attitude

A lack of compassion or understanding towards others' situations or feelings, often resulting in a disconnect or negative interactions.

Strength

The quality or state of being physically strong or the capacity of an object or substance to withstand great force or pressure.

Maslow's Hierarchy

A psychological theory proposing a five-tier model of human needs, arranged in a hierarchy, that people are motivated to fulfill starting from basic needs to self-actualization.