Identify the elements of scarcity, choice, and opportunity cost in the following: The Environmental Protection Agency is considering an order that a 500 acre area on the outskirts of a large city be preserved in its natural state, because the area is home to a rodent that is considered an endangered species. Developers had planned to build a housing development on the land. (source Principles of Economics, University of Minnesota open library) 9. Identify the elements of scarcity, choice, and opportunity cost in the following: The manager of an automobile assembly plant is considering whether to produce cars or sports utility vehicles (SUVs) next month. Assume that the quantities of labor and other materials required would be the same for either type of production. (source Principles of Economics, University of Minnesota open library) 10. Identify the elements of scarcity, choice, and opportunity cost in the following: A young man who went to work as a nurses' aide after graduating from high school leaves his job to go to college, where he will obtain training as a registered nurse. (source Principles of Economics, University of Minnesota open library)