Author Question: The opportunity cost to a city for using local tax revenues to construct a new park is the: a. best ... (Read 74 times)

segrsyd · **on:** Jun 30, 2018

The opportunity cost to a city for using local tax revenues to construct a new park is the:
a. best alternative foregone by building the park.
b. dollar cost of constructing the new park.
c. dollar cost of the old park.
d. increased taxes necessary to pay for maintenance of the new park.

Question 2

Which of the following sayings best reflects the concept of opportunity cost?
a. You can't teach an old dog new tricks. b. There is no such thing as a free lunch.
c. I have a baker's dozen. d. There's no business like show business.