Respuesta :
The minimum amount of the benefits for the park development in order to be rational for the city $800000.
As per the details shared in the above question is as follow,
The following are the details,
The city owns the land, having purchased it 50 years ago for $25,000.
A local restaurant developer has offered $700,000 for the land
The development costs for the park would be $100,000.
what is the minimum amount of the benefits for the park development in order to be rational for the city?
Therefore the amount takes to develop the park is $100,000
The opportunity cost is $700,000
So, the total benefit = $100,000+$700,000= $800000
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