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opportunity cost

(households production)many households supplements their food budget by cultivating small vegetable gardens.explain how each of the following migth influence this kind of household production:
a.both husband and wife are professionals who can earn high saleries.
b.the household is located in acity rather than in a rural area.
c.the household is located in a region where there is a high sales tax on food.
d. the household is located in a region that has has a high property tax rate.

Solution Preview

a. the opportunity cost of cultivating your own vegetables is high, it would be best to earn your high salary and let other's (those with a comparative advantage in the production of vegetables) ...

Solution Summary

The opportunity costs in this case are featured.

$2.19