Q: If a producer is producing at point z and wants to move to point X, then what is the trade-off?
A: A production possibility curve is defined as that curve which shows different quantities of two…
Q: Is this an good example of an opportunity cost? Why or why not? “To begin, I began selling prints of…
A: Opportunity costs are generally referred to all the benefits both monetary and non-monetary which…
Q: Explain the concept of opportunity costs and provide at least two real world examples illustrating…
A: The opportunity cost is the next best alternate which is given up.
Q: what is the potential opportunity cost of watching a lot tv show.
A: If a lot of television is watched, then it reduces the time available for other activities, for…
Q: Give an example of some action that has both a monetary and nonmonetary opportunity cost.
A: Opportunity cost is a central principle of economics, which means people face tradeoffs in life. And…
Q: Define the opportunity cost . What is the significance of opportunity cost in economics.
A: Opportunity Cost Opportunity cost is the cost of next best foregone.When a person, an investor, or a…
Q: The term "opportunity cost" points out that *
A: In economics, there are different types of costs associated with a specific economic activity and…
Q: Just-in-time was inspired by observing: A Farm working harvesting crops B Sewers making garments An…
A:
Q: How does subjective value make "gains from trade" possible?
A: The subjective value can be considered to be as the significance a singular provides for a decent,…
Q: As more cars are produced, the opportunity cost of each additional car is greater than for the…
A: Opportunity cost measures the trade-off between two goods i.e. goods need to be given off in order…
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: Trade-offs can always be considered in terms of opportunity costs. True False
A: Trade-off implies the exchange of one thing to get another. And the opportunity cost implies the…
Q: Indicate True (T) or False (F) for the following questions, and explain your answer in 50 words "If…
A: International trade is the commercial transactions between countries that take place. Consumer…
Q: Which is a good example of an opportunity cost? 1. “To begin, I began selling prints of my pictures…
A: “To begin, I began selling prints of my pictures in 2019 throughout 2020. It's now closed. USPS and…
Q: opportunity cost
A: Opportunity cost is the loss of benefit that could have been derived by choosing the not chosen…
Q: Is there a pattern in opportunity cost changes?
A: Opportunity cost is a micro economics concept refer to the lost of the potential benefit for an…
Q: What is the opportunity cost of moving from point I to point D? Explain.
A: The maximum output of two items utilizing a fixed amount of input is measured by a production…
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: The cost of a trade-off is known as the of that decision. a. opportunity cost b. marginal cost C.…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: What are Opportunity Costs? How is it different from Cost Benefits? (2 PAGES)
A: A producer's expenditure on factor and non-factor inputs for a specific amount of production of a…
Q: Which is a good example of an opportunity cost? 1. “To begin, I began selling prints of my pictures…
A: Opportunity cost is the value or the benefit that could have been taken if the other alternative…
Q: what is the difference between the concept of trade off and opportunity cost?
A: For the given question, the difference between trade offs and opportunity cost need to be discussed.…
Q: Consider your decision to study this final exam. Which of the four core principles of economics…
A: Marginal Principle is defined as the increase in the level of an activity when its marginal benefit…
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: What is the opportunity cost of increasing the number of movies produced?
A: Opportunity cost refers to the given up benefits to obtain some other benefits.
Q: Her annual opportunity cost of this new business is:
A: Opportunity cost is the cost of the best alternative use. It is the benefit an individual looses…
Q: What do opportunity costs represent?
A: A trade-off is a situation, where making one choice or purchasing one good means losing the chance…
Q: What is the Opportunity cost give only three Applications of the opportunity cost? Thank you
A: According to the given question opportunity cost is simple words we can say that it is the cost of…
Q: Economics is the study of how a society manages its resources to
A:
Q: What is the opportunity cost in economics?
A: The opportunity cost of a specific activity option in microeconomic theory is the loss of value or…
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: What is a good way to calculate opportunity cost?
A: Opportunity costs is the next best alternative. It is what you give up when you choose one from the…
Q: Complete the following table by computing the opportunity cost of Juanita's time and the total cost…
A: The total cost incurred will be the summation of the price of the dress and the opportunity cost of…
Q: Define the term opportunity cost?
A: The opportunity cost is the cost which is incurred by not enjoying the benefits related to the next…
Q: What is the opportunity cost of beer as production moves from point C to Point A?.
A: Opportunity cost in PPC is the marginal rate of transformation. MRT= Loss/Gain MRT from point C to…
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: 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: Opportunity cost can be measured as the: Select one: a. Increase in the quantity produced of one…
A: Production possibility frontier depicts the combination of two goods that a nation can produce by…
Q: Parents offer to buy their son a new videogame if the kid gets an A in all his classes. Which…
A: Economics refer to the study of allocation of limited resources in the presence of unlimited wants…
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- Timothy quits his job, which pays him $96600 a year to enroll in a 4 years graduate program. His annual school expenses are $52000 for tuition, $6000 for books and $2500 for food. What is his opportunity cost for attending the graduate program?Difference between opportunity cost and money costHow do I find opportunity cost
- Maria has just paid down on a small apartment for which the mortgage is $2200 per month. Before she moves in, a work colleague offers to rent it for $5000 per month. Since Sharon is longing to move out of her parents house even though she doesn't have to pay rent there, she declines the rental offer and occupies her new apartment. What is the value of the opportunity cost of her choice?Economics multiple choice.A person rents a house for $24,000 per year. The house can be purchased for $200,000, and the tenant has this much money in a bank account that pays 4 percent interest per year. Is buying the house a good deal for the tenant? Where does opportunity cost enter the picture?
- Apply decision making process/model to your decision to attend collegeThose who have influence in a work group, including peers, managers, coworkers, and subordinates, are referred to as _______. a. instrumental concerns b. opportunities c. significant others d. immediate job context e. normative approachesA family have inherited £15,000 from a long lost aunt. They are weighing up whether to buy a new car or go on a trip to Australia for a month. They decide to go to Australia. The opportunity cost of this decision is a) the cost of going to Australia. b) the cost of a buying a new car. c) the benefits of going to Australia. d) the benefits of having a new car.