Multiple Choice
You have rented your first apartment,signing a lease that commits you to pay $500 each month for 12 months.You have an opportunity to take a trip to Europe during the entire month of June,and you will spend $2 000 travelling.Your apartment will be vacant,but because of your lease,you must still pay the rent.The cost of taking the trip to Europe is:
A) $2 000 because the $500 for your June rent is a sunk cost.
B) $2 500 because this is your total spending during the month of June.
C) $1 500 because the June rent is an opportunity cost of travelling that must be deducted from the explicit cost of the trip.
D) $2 500 because the June rent is an opportunity cost of travelling and must be added to the explicit cost of the trip.
Correct Answer:

Verified
Correct Answer:
Verified
Q57: Use the following to answer question: <img
Q67: Marginal analysis is relevant for:<br>A)both "either-or" and
Q79: If at a given quantity MB =
Q86: Wendy sells ice-making machines.She can sell six
Q118: Use the following to answer question: <img
Q135: Marginal analysis should be used in "either-or"
Q140: Use the following to answer questions :<br>Scenario:
Q142: Use the following to answer questions :<br>Scenario:
Q161: If the marginal benefit received from consuming
Q167: Use the following to answer question: <img