opportunity costs

Q: Shannon has decided to spend less time on social media because she needs to improve her grades. What…

A: In economics, an opportunity cost represents the potential benefits a consumer, individual or…

Q: List the opportunity costs of the following: a. going to college b. missing a lecture c. withdrawing…

A:

Q: |depicts society as organized around two classes fighting over limited resources.

A: Conflict    depicts society has organized around two classes fighting over limited resources.

Q: You were planning to spend Saturday working at your part-time job, but a friend asks you to go to…

A: Opportunity costs are incurred when a person, an investor, or an organisation chooses one…

Q: You can spend spring break either working at home for $80 per day for five days or go to Guam for…

A: The opportunity cost is the value of the next best alternative.

Q: An opportunity cost is the cost of

A: Formula for Opportunity Cost (OC): OC = Total Revenue (TR) - Economic Profit (EP)

Q: An electrician quits her current job, which pays $25,000 per year. She can take a job with another…

A: Opportunity cost is the next best alternative foregone to attain some kind of decision. The concept…

Q: Question 8 If your wage increases from $10 per hour to $15 per hour, then your Group of answer…

A: Opportunity cost refers to the next best alternative forgone

Q: What is the opportunity cost of your MBA education? How does the opportunity cost to you change if…

A: Opportunity cost is the foregone benefit from an alternative selected.

Q: There are two costs associated with extending credit; one is opportunity cost. What is the other…

A: In economics, when an activity is performed by an individual, direct and indirect cost are…

Q: Identify the business and economic implications of differences in culture.

A: Cultural differences are the differences in beliefs, culture, language, decisions, and various other…

Q: Attempts Average / 1 1. Understanding opportunity cost You work as an assistant coach on the…

A: Earnings per hour as a coach=$13 Carnival admission fees=$9 Attending the carnival includes two…

Q: Timothy quits his job which pays $65 900 a year to enrol in a 2-year graduate program. His annual…

A: Opportunity cost measures the trade-off between two goods.

Q: You have been going to school and working 10 hours a week. The school offers you a scholarship worth…

A: 1)Opportunity cost in time-10 hours In money 10*10=100 per week. 2)I would choose quarter because…

Q: The opportunity cost of going to school instead of working is the cost of a) housing. b) potential…

A: In financial matters, the cost analysis incorporates two unique sorts of expenses. The first is the…

Q: You can either spend spring break working at home for $80 per day or go to Florida for the week.  If…

A: Opportunity Cost is the cost of next best alternative. Opportunity Cost is when in making a decision…

Q: The financial costs of obtaining a college education include tuition and fees, textbooks, and for…

A: Opportunity cost is the forgone benefit from the next best alternative by choosing another…

Q: attending summer school cost 2,200. If you worked, you could earn 7,000. What is the opportunity…

A: Opportunity Cost:The opportunity cost of using a commodity or activity is equal to the value or cost…

Q: If your tuition is $5,000 this semester, your books cost $600, you can only work 20 rather than 40…

A: Opportunity cost refers to the best given up values among the alternate in the process of gaining…

Q: (Opportunity Cost) You can spend spring break either working at home for $80 per day for five days…

A: When it comes to evaluating a company's capital structure, opportunity cost analysis is vital. In…

Q: The definition of Product Possibility Frontier is The graph which indicates the various production…

A: The definition of product possibility frontier is the graph which indicates the various production…

Q: explain why education is under consumed in the market place and what this means for society

A: Education is a merit good. Other examples of merit good include healthcare, museums, etc.

Q: Why is the opportunity cost of attending college higher for a 50 year old than for a 20 year old?

A: Opportunity cost also called the implicit cost is the cost of the next best alternative that is…

Q: Identify three categories of opportunity costs that you will incur for getting a universit degree.…

A: Opportunity cost: It refers to the cost which the person or the company has to be forgone. It is the…

Q: Difference between opportunity cost and money cost

A: In economics, cost is the monetary value of material resources, time and effort expended, and risks…

Q: Opportunity cost

A: The difference between limited resources and supposedly limitless needs is known as scarcity in…

Q: Principle #1: People (Including Individuals and Society As a Whole) Face Tradeoffs Principle #2: The…

A: Externality is a situation where a person/economic agent is affected by the consumption of a…

Q: You have been going to school and working 10 hours a week. The school offers you a scholarship worth…

A: A) In one quarter time is = 12 week (assumed 4 weeks per month and 3 months in one quarter)…

Q: The boundary between the combinations of goods and services that can be produced and the…

A: Economics refer to the study of allocation of scarce resources in  the most optimal way, when the…

Q: Elaborate on your opportunity costs, if you decide to stop studying now and start working.

A: Opportunity cost is the next best alternative foregone.

Q: A university student faces the decision of how to spend one hour tonight. She could babysit her…

A: Opportunity cost is the worth of what you lose while picking either at least two choices.

Q: Define Production opportunities

A: It is the ability of an individual or a firm to convert its cost into an opportunity. During the…

Q: You can spend spring break either at home working for $80 per day for five days or go to Florida for…

A: Opportunity cost refers to the value of the best alternative forgone when one chooses an item or…

Q: A student stops studying before the point at which her marginal benefits of studying equal her…

A: The equilibrium point of studying will achieve at point where marginal cost of studying is equal to…

Q: Opportunity cost You decide to spend $80 on some great shoes and do not pay your electric bill

A: Opportunity cost is defined as the cost of something which is sacrificed for the other thing &…

Q: Raad wants to sell his workout DVDS in the Middle East, Asian, and Latin African countries. will…

A: As Raad wants to sell his DVDs in different countries without travelling to that place, the…

Q: Productive efficiency refers to:         the use of the least-cost method of production.        the…

A: The productive efficiency of the firm is the ability of the firm to produce the maximum possible…

Q: Carefully define the notion of opportunity cost. Use this notion to explain the following phenomena:…

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…

Q: when we choose to go to college, we have to give up the salary that we should be able to get if we…

A: Opportunity Cost is the cost of foregone alternative. It is the cost of the alternative that is not…

Q: The opportunity cost of working is __ Select one: a. the wage you earn for the time spent working.…

A: d. what you would have done during the time if you were not working.

Q: Your choice for the summer is to either work at home for 4 weeks and get $100 per week or to go to…

A: Opportunity cost is defined as the benefits an individual, business, or investor forgoes when he/she…

Q: Someone gives up going to see a movie to study for a test in order to get a good grade. The…

A: Opportunity cost represents the potential benefits that one has to give up while choosing an…

Q: The opportunity cost to you of an action is A. how much you must pay for the opportunity to take the…

A: The opportunity cost can be defined as the cost of one option when another option is choosen.

Q: Advantages of market economy

A: A market economy  in which the forces of supply and demand generate price signals that drive…

Q: Socialization is defined as ________. A. the process of adjusting and adapting to a…

A: The process of internalizing societal norms and ideals is known as socialization.Learning and…