Question

What is President Trump's opportunity cost for becoming president instead of running his business? How would...

What is President Trump's opportunity cost for becoming president instead of running his business? How would you measure his marginal revenue product?

Please write one full paragraph.

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Answer #1

Here, we cannot show everything in quantitative terms as by becoming the president he also gains power of national decsion making which is on a large scale as compared to his business. The opportunity cost, might be the salary lost assuming his business is profitable, and the perks of taking independent decisions. The marginal revenue product= Marginal product* Marginal revenue. So, this depends on the increase in the output and revenue of USA by trump's becoming of a president. You can keep these points in view while writing the paragraph

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