Answer:
The opportunity cost of using the van is $7,500.
Explanation:
It is given that a firm buys a delivery van for $18,000 and can resell it in 2 years for $7,500.
Opportunity cost : It is the value or cost of second best alternate when one is chosen. It is also known as sacrificing cost.
He sell the van for $7,500. It means if the van is not sold, then firm don't have $7,500. The firm gets $7,500 for van.
Therefore, the opportunity cost of using the van is $7,500.
