A high school student is contemplating attending the local university in the fall semesters. She was going to take a job at the local mall paying $12,500 a year and the cost of the tuition, books, fees, etc. would be $15,000 a year. The opportunity cost of attending the university is:
a. $27,500.
b. $12,500.
c. $15,000.
d. $0.
Ans: a. $27,500.
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Indicate whether the statement is true or false
A monopolist has market power because it
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A. more consumption for the trading partner with the comparative advantage. B. equal consumption among trading partners. C. more consumption for the trading partner with the absolute advantage. D. more consumption for all trading partners.