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Answer to Question #89639 in Microeconomics for Lisa Tani
Question #89639
Which of the following should entail the greater opportunity cost: allocating a square block in the heart of NYC for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot? Explain
Expert's answer
Allocating a square block in the heart of NYC for a surface parking entails the greater opportunity cost, because a lot of buildings with offices can be leased at a high price here
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