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    opportunity cost

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    (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.