Zelda is a recent fashion graduate. She started her own apparel store with an investment of$300,000. In the first year she made a profit of $60,000. If she had taken up a job as a fashioneditor for a magazine, she would have earned $50,000 as salary per year. Also, she could haveinvested her capital, $300,000, in treasury bonds and earned an interest of $12,000.
Thus, theamount $62,000 ($50,000 + $12,000) would be Genevieve's:
a. social cost.
b. break-even price.
c. reservation price.
d. opportunity cost.
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