You Own a Building That Has Four Possible Uses: a Cafe

question 38

Multiple Choice

You own a building that has four possible uses: a cafe, a craft store, a hardware 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 a hardware store. The opportunity cost of using this building for a hardware store is

• A) $2,000, the value if the building is used as a cafe.
• B) $3,000, the value if the building is used as a craft store.
• C) $10,000, the sum of the values if the building is used for a cafe, a craft store, or a bookstore.
• D) $1,000, the difference in value if the building was used as a bookstore and its actual use.

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Definitions:

Roughhousing

Boisterous, physical play involving minor scuffles and wrestling, usually not intended to cause serious harm.

Neighbor's Property

Real estate or possession owned by individuals or entities located adjacent to or near one's property.

Battery

An intentional unconsented physical act that results in harmful or offensive contact with another person's body.

Civil Tort Action

A lawsuit brought by one individual against another or a corporation for compensation due to harm caused by negligence or intentional acts.