You got a leaf blower for free at a yard sale. You are thinking of using it to clean leaves in your neighborhood for extra cash this weekend. You also need to study for a final next week. What opportunity costs do you need to consider? “Since the device was free, your opportunity cost is zero.” Is this statement true or false? Why?What opportunity costs do you need to consider?

opportunity cost is the cost of loss of one opportunity to choose the other alternative. In other…

Answered: You got a leaf blower for free at a…

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter14: Modern Macroeconomics And Monetary Policy

Section: Chapter Questions

Problem 3CQ

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You got a leaf blower for free at a yard sale. You are thinking of using it to clean leaves in your neighborhood for extra cash this weekend. You also need to study for a final next week. What opportunity costs do you need to consider?

“Since the device was free, your opportunity cost is zero.” Is this statement true or false? Why?
What opportunity costs do you need to consider?

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