B).What is Buffy's opportunity cost of running the store for a year? C).Buffy thinks she can sell $400,000 worth of amulets in a year. What would her accountant consider the store's profit? D).Should Buffy open the store? Explain. E).How much revenue would the store need to generate for Buffy to earn positive economic profit?

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A: Opportunity cost is the value of next best alternative for the resources.

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Q: ow do you define opportunity cost

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Q: Define the concept of scarcity. Explain the significance of this concept in relation to the concept…

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