Suppose that you own a house. what is the opportunity cost of living in the house?
a. there is no opportunity cost because you own the house.
b. there is no opportunity cost unless you could set up a business in the house.
c. the opportunity cost is the rent you could have received from a tenant if you didn't live there.
d. the opportunity cost is the eost of your monthly mortgage payment plus bills.

C. The opportunity cost is the rent you could have received from a tenant if you didn't live there

Explanation:

Opportunity cost is the cost of other alternatives forgone when one choice was made over other choices.

If I didn't live in the house i built, the other alternative use of the house would be to rent it out. This would be the opportunity cost.

The explicit cost are the cost of your monthly mortgage payment plus bills.

I hope my answer helps you.

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