Scenario 13-1 Joe Wants to Start His Own Business,which Will Require That

question 357

Multiple Choice

Scenario 13-1
Joe wants to start his own business,which will require that he purchase a factory that costs $400,000.Joe currently has $500,000 in the bank earning 3 percent interest per year.
-Refer to Scenario 13-1.If Joe purchases the factory with his own money,what is the annual implicit opportunity cost of purchasing the factory?

• A) $0
• B) $3,000
• C) $12,000
• D) $15,000

---

Definitions:

Genomic Imprinting

An epigenetic phenomenon by which certain genes are expressed in a parent-of-origin-specific manner, meaning that the expression of such genes is determined by the parent from whom the gene was inherited.

Paternal

Relating to or characteristic of a father, including genetic inheritance or social roles associated with fatherhood.

Maternal Inheritance

The genetic transmission of genes and traits exclusively from the mother, often seen in mitochondrial DNA.

Phenotype

The set of observable characteristics or traits of an organism that result from the interaction of its genotype with the environment.