Question

Mr. stevens owns a building in downtown bentonville. he has considered opening a sporting goods store in the building but has also been approached by someone who would like to rent the space to open a gym. if mr. stevens decides to open his sporting goods store, what is the opportunity cost of this decision

Answer 1

A.The opportunity to rent it to another tenant

Answer 2

Answer:

The opportunity to rent it to another tenant

Explanation:

Opportunity cost is generally known as the alternative to a specific type of want. It is the option that someone picks compared to the other available options. This is mainly a function of all the options on someone's scale of preference. Therefore, we can conclude that renting the available space to another person is the opportunity cost.