michael has spent 100 000 of his personal savings to start up the business. he could have earned a 15 percent return from his savings. what is the opportunity cost for the business?

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter1: Ten Principles Of Economics
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michael has spent 100 000 of his personal savings to start up the business. he could have earned a 15 percent return from his savings. what is the opportunity cost for the business? 

 

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