What Is The Opportunity Cost Of Living In A House

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Econ 201 Chapter 2 Flashcards Quizlet

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Suppose that you own a house. What is the opportunity cost of living in the house? A) There is no opportunity cost because you own the house. B) There is no opportunity cost unless you could set up a business in the house. C) The opportunity cost is the rent you could have received from a tenant if you didn't live there. D) The opportunity cost is the cost of your monthly mortgage payment plus bills

The Cost of Living in a Paid-Off House - FiveCentNickel

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Jun 29, 2011 · Given that our house is worth somewhere in the neighborhood of $325k, that means we’re facing roughly $7k-$10k in annual housing costs even in the absence of a mortgage payment, and that’s without considering utilities or lawn care.

Opportunity Cost Definition - investopedia.com

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Aug 21, 2020 · Opportunity cost is the potential loss owed to a missed opportunity, often because somebody chooses A over B, the possible benefit from B is foregone in favor of A.

3 What is the opportunity cost of living in a house that ...

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What is the opportunity cost of living in a house that you already own? (a) Zero, because you already own it. (b) The rent you would have to pay if you rented the best alternative house to live in. (c) The amount depends on the current mortgage rate, whatever it is. (d) The rent you could receive if you rented the house out to someone else.

What is the opportunity cost of living in the house A ...

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B) There is no opportunity cost unless you could set up a business in the house. C) The opportunity cost is the rent you could have received from a tenant if you didn't live there. D) The opportunity cost is the cost of your monthly mortgage payment plus bills. #34 page 11, (Based on figure 2.2 on page 10) 34) Figure 2.2 presents a production possibilities curve for a country that can either produce highways …

Why would the opportunity cost of living in a house you ...

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In the above case, the opportunity cost of living in an owned house will be the rent that could have been received if the house had been let out. Instead of the market price of the house.

MACROECONOMICS CHAPTER 2 Flashcards Quizlet

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What is the opportunity cost of living in the house the opportunity cost is the rent you could have received from a tenant if you didn't live there THIS SET …

Opportunity Cost Examples - YourDictionary.com

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Opportunity cost is the value of something when a particular course of action is chosen. Simply put, the opportunity cost is what you must forgo in order to get something. The benefit or value that was given up can refer to decisions in your personal life, in a company, in the economy, in the environment, or on a governmental level.

Study 21 Terms Economics Flashcards Quizlet

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18. What is the opportunity cost of living in a house that you already own? A. Zero, because you already own it. B. That mostly depends on current mortgage rates. C. The rent you could receive if you rented the house out to someone else. D. The taxes you pay your local government.