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An individual pays $100 every month as rent for an apartment, and his monthly opportunity cost of ...

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An individual pays $100 every month as rent for an apartment, and his monthly opportunity cost of ...

An individual pays $100 every month as rent for an apartment, and his monthly opportunity cost of commuting from the apartment to his place of work is $40. Which of the following statements is then TRUE?

▸ The direct cost of renting the apartment is $100, whereas the indirect cost of renting the apartment is $40.

▸ The direct cost of renting the apartment is $40, whereas the indirect cost of renting the apartment is $100.

▸ The direct cost of renting the apartment is $140.

▸ The indirect cost of renting the apartment is $140.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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