Oa His ecomomic rent is 300000 and his opportunity cost is 0

Oa His ecomomic rent is $300,000, and his opportunity cost is $$0,000. Ob. His economic rent is S50,000, and his opportunity cost is $300,000. Oc His economic rent is $300,000, and his opportunity cost is $350,000 Oe. His economic rent is $250,000, and his opportunity cost is $50,000. His ecomomic rent is $50,000, and his opportunity cost is $250,000

Solution

The correct ANswer:- His economic rent is $250,000 and his opportunity cost is $50,000

Reason:- Economic rent = $300,000-$50000= $250,000

Opportunity cost is the sacrifice of earning opportunity if another option is selected. In this case this is the earning from teaching which is $50,000

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