Greg, a landscaper, is planning on opening his own landscaping company. He currently earns $30,000 per year working for his uncle but he will need to quit that job. He hires one employee at an annual wage of $18,000. He needs to pay rent of $6,000 a year. He plans to use $12,000 in savings to pay for the equipment he needs, the market value of the equipment at the end of the year is $10,000. Also, he needs to buy $2,000 of goods and services from other firms. The current interest rate on savings is 6 percent. Greg predicts that the revenue from the new landscaping company is $55,000 a year. What is total opportunity cost incurred by Greg in running his own business

the  total opportunity cost spent is $30,720

Explanation:

The computation of the total opportunity cost spent is shown below:

= Earning per year + saving amount × current interest rate on savings

= $30,000 + $12,000 × 0.06

= $30,000 + $720

= $30,720

Hence, the  total opportunity cost spent is $30,720

We simply applied the above formula so that the correct value could come

And, the same is to be considered

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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