If Ripco Owns the Building Where It Operates, Then If

question 33

Multiple Choice

If Ripco owns the building where it operates, then if

• A)the firm pays no rent, there is no opportunity cost
• B)the firm does not rent the building to anyone else, there is no opportunity cost
• C)the firm pays no rent, there is an opportunity cost
• D)its usage of the building precludes it from renting to anyone else, there is an opportunity cost
• E)the firm could use the building for other things, there is no opportunity cost

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Definitions:

Daoism

A philosophical and religious tradition rooted in Chinese culture that emphasizes living in harmony with the Dao, which is the fundamental nature of the universe.

Confucianism

East Asian philosophy–religion based on the teachings of the Chinese philosopher Confucius (551–479 BCE). Confucianism is concerned with harmonious social and political relationships, good leadership, and getting along with others through cultivating personal virtue. The central question in Chinese thought generally is the ethical question of what is the good life. For Confucius, the answer was to live in harmony with other human beings, and his philosophy focuses on “the Way” (Dao or Tao) to do that.

Social Order

The system of organized and patterned social arrangements and structures that inform the behavior and expectations of members within a society.

Ontologies

In philosophy, refers to the study of being or existence, and in computer science, a structured framework for organizing information or knowledge.