You got a leaf blower for free at a yard sale. You are thinking of using it to clean leaves in your neighborhood for extra cash this weekend. You also need to study for a final next week. What opportunity costs do you need to consider? “Since the device was free, your opportunity cost is zero.” Is this statement true or false? Why?What opportunity costs do you need to consider?

opportunity cost is the cost of loss of one opportunity to choose the other alternative. In other…

Answered: You got a leaf blower for free at a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You got a leaf blower for free at a yard sale. You are thinking of using it to clean leaves in your neighborhood for extra cash this weekend. You also need to study for a final next week. What opportunity costs do you need to consider?

“Since the device was free, your opportunity cost is zero.” Is this statement true or false? Why?
What opportunity costs do you need to consider?

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