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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.

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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