Question

The scaffer auto company has purchased a large parcel of land for $1 million. The company recently discovered that the land is contaminated and is worthless top all possible buyers. the opportinity cost of the land is:_________

Answer 1

the opportunity cost of the land is zero

Step-by-step explanation:

The opportunity cost is the cost that provides the best option in the many alternatives available

Here in the question it is given that a parcel fo land is purchased for $1 million and it is seen that the land is worthless so here the opportunity cost of the land is zero as it is of no use

Therefore the opportunity cost of the land is zero