What is part of the opportunity cost of borrowing a textbook from the library instead of buying it, when I am already a member of the library?The annual fee for library membership.The wage I could have earned in the time I visited the library.It has no opportunity cost if I have a subscription for the channel.The price of the book.It is a very difficult problem to understand. It depends on what we think, so please give us a definite answer with specific explanation. Personally, If the man buys the book instead of borrowing book from the library, he can save that time to use it for the work so that he can earn his wage.

Answer: option 2 (The wage I could have earned in the time I visited the library) Explanation:…

Answered: What is part of the opportunity cost of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What is part of the opportunity cost of borrowing a textbook from the library instead of buying it, when I am already a member of the library?

The annual fee for library membership.
The wage I could have earned in the time I visited the library.
It has no opportunity cost if I have a subscription for the channel.
The price of the book.

It is a very difficult problem to understand. It depends on what we think, so please give us a definite answer with specific explanation. Personally, If the man buys the book instead of borrowing book from the library, he can save that time to use it for the work so that he can earn his wage.

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