Which of the following represents an economic cost, but not an accounting cost, of building and running a summer resort?

a) the wages paid to the workers hired to run the resort and tend to its guests.

b) the wages lost by the owner in pursuing his own venture, instead of working for an already established resort.

c) the cost of materials to build the main hotel, pools and guesthouses.

d) the money foregone by using the land on which the resort will stand, instead of selling it or using it for another venture.

e) the cost of hiring accountants to keep track of the company’s books.