What is total opportunity cost this year of starting shop

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Q. For few months, prior to your vacation trip to Germany, you find that exchange rate for your U.S. dollar has decreased relative to euro. If you were a U.S. citizen or resident, are you pleased?? Explain.

Q. In first year you paid 5,000,000 AED out of your savings account in order to purchase land and capital for shop. Your savings account was earning 3% interest. What are explicit and implicit costs of your decision? What is total opportunity cost this year of starting shop?

Reference no: EM1372306

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