[Answer] 1. What is an opportunity cost? How does the idea relate to the definition of economics? Which of the following decisions would entail the greater opportunity cost: allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot? Explain.

Answer: Opportunity cost is the amount of other products that must be sacrificed to produce a unit of a product. relates to the definition of economics because the payment must be made to get and maintain the services of a resource. The New York City square block would have a greater opportunity cost because it would cost more money than it's worth to change the lots of the already existing lot.

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1. What is an opportunity cost? How does the idea relate to the definition of economics? Which of the following decisions would entail the greater opportunity cost: allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot? Explain. What is an opportunity cost ? How does the idea relate to the definition of economics ? Which of the following decisions would entail the greater opportunity cost : Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot ? 35 What is an opportunity cost ? How does the idea relate to the definition of economics ? Which of the following decisions would entail the greater opportunity cost : allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot ? Explain . 1. What is an opportunity cost? How does the idea relate to the definition of economics? Which of the following decisions would entail the greater opportunity cost: allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot? Explain . Thu Jan 10 2008 · What is an opportunity cost ? How does the idea relate to the definition of economics ? Which of the following decisions would entail the greatest opportunity cost : Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot ? Explain . What is an opportunity cost ? How does the idea relate to the definition of economics ? Which of the following decisions would entail the greater opportunity cost : Allocating a...

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