An electrician quits her current job, which pays $25,000 per year. She can take a job with another firm for $20,000 per year or work for herself. The opportunity cost of working for herself is
Q: Sofia wants to acquire an apartment that within 4 years will have a value of $310,000,000, for this ...
A: Given information Value of property after 4 years=$310,000,000 Needs money 35% of $310,000,000=$1085...
Q: I'l upvote if it is complete. Thank you
A:
Q: your home is S250000, but the replacement cost of the structure is $190000, how much homeowner's ins...
A: 1. Replacement cost is attached to your home insurance inclusion. Perhaps the main thing to realize ...
Q: 8.6 (LG 8.9, 8.10) Calculate the CTF and CSF for each of the following: a. Tax rate of 50 percent, C...
A: In the mentioned question we have to calculate CTF and CSF. CTF = Capital Tax Factor CSF = Capital ...
Q: III. Find the cost of the basket Year Year 1 Orange 200 Quantity Price Quantity Price Quantity Price...
A: According to the question, it is given that : There are three goods offered in an economy : Oranges...
Q: A shoe store sells 250 pairs of sneakers per month at a per-unit price of $115. This is the price an...
A: Economic profit is the difference between total revenue and total cost. Total cost includes fixed co...
Q: How many Nash equilibria does this game have? hand written plzz
A: We need to look both pure and mixed strategy nash equilibrium.
Q: Question 2 Suppose that an economy has the following average annual growth rates of its real GDP Y, ...
A: Money supply (M) in an economy is equal to the nominal GDP divided by the velocity (V), where nomina...
Q: Consumers with a high willingness to pay enjoy more surplus under a single-price monopoly. are indif...
A: Consumer with high willingness to pay - enjoy more surplus under first degree discrimination
Q: Explain the risk of having too many migrants in a “UNDERDEVELOPED” countries
A: Migrants are the people who are moving to a foreign country for searching or do work. Migrants are m...
Q: More and more global business firms are becoming stateless corporations. Do you think this may benef...
A: The measure that depicts the transfer of goods and services between individuals and entities being i...
Q: Each consumer has the following demand for annual visits to a park is: Q = 100 - P, where Q is the n...
A: Given:Q=100-P MC=$10
Q: A pharmaceutical company has spent $500 million to date working on a blood pressure treatment. It ha...
A: Perpetuity is a security that pays for a limitless measure of time. Perpetuity is a consistent strea...
Q: DaisyCo is an amusement park company using geographical segment pricing to increase profits. It char...
A: Third degree price discrimination refers to the practice of charging different prices to each segmen...
Q: Suppose that Sandy can produce 10 economic reports or make 2 sales calls. Suppose Tim can produce 2 ...
A:
Q: Because there isn't one single measure of inflation, the government and researchers use a variety of...
A: CPI and GDP deflators will be examined in the ensuing discussion. While the GDP deflator considers t...
Q: •Suppose demand is Q = 100 – 2P •a.) Calculate the price elasticity of demand at P = $5. •b.) Calcul...
A: There are many different ways to define elasticity. Still, the most frequent definition is a measure...
Q: In the following scenarios, you will be given a product and an event. Determine what will happen to ...
A: There are various non price determinant that causes to shift the demand curve: Income of the Consum...
Q: Each consumer has the following demand for annual visits to Planet Fitness: Q= 100 - P, where Q is t...
A:
Q: Which of the following is TRUE about tariffs? Question options: Tariffs cause imported product ...
A: A tariff is an expense required by legislatures on the worth including cargo and protection of impor...
Q: Suppose a monopoly can sell 1 unit for $20, or 2 units for $15 each. What is the marginal revenue...
A: Marginal revenue depicts the extra complete revenue created by expanding item deals by 1 unit.
Q: f the quantity of money demanded is greater than the quantity supplied, then in the short run the .....
A: The curve that depicts various quantities of goods and services being demanded by individuals at dif...
Q: A consumer is faced with the following utility function, U(x1 x2)=(xp1 1+xp2)1/p, where 0<p<1. The c...
A:
Q: Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand giv...
A: Given : Eyeglasslux is the single price monopolist in eye glass frame market. Marginal Cost = 61
Q: Ecotripper Enterprises is the sole producer of Sunblast solar-powered skateboards, “The green alter...
A: Given, Demand function, P=120-0.5Q, Total costs, TC=100+20Q, and Marginal cost, MC = 20. a.) Total r...
Q: Draw and carefully label the Euro-U.S. dollar foreign exchange graph. You must use the Euro/US $ exc...
A: An unexpected increase in the US inflation rate relative to the Euro Area will lead to depreciation ...
Q: 18) Which of the following options best describes tax incidence? A) It equals to the loss in the soc...
A: Imposition of tax results in decrease in social surplus as socially efficient quantity is not produc...
Q: Which situation describes when mutually beneficial trade occurs? Question options: Coun...
A: Mutually beneficial trade, in the international market, refers to a scenario in which both trading c...
Q: he following graph shows the daily market for medium cardboard boxes in San Diego. (? 20 Demand 18 S...
A: The correct answer is given in the second step.
Q: identify and explain the economic theory about the costs and benefits of inflation?
A: The situation that depicts the general increase in the level of goods and services during a period o...
Q: 4 In Bangladesh, we are expecting that the price of food items will increase after a few weeks in Ra...
A: Demand and supply are two important concepts in economics used to determine the equilibrium price an...
Q: If the cross-price elasticity between the price of good A and the demand for good B is zero, this im...
A: Cross price elasticity measures the responsiveness of quantity demanded of good1 with respect to cha...
Q: 1. What cuve connects A,B and C 2. Is good 1/2 a gross compliment/gross substitute to good 1/2 (Pic...
A: Here in the above diagram, the straight line shows the budget constraint of the consumer. The curve ...
Q: A shoe store sells 250 pairs of sneakers per month at a per-unit price of $115. This is the price an...
A: Firm will maximise profit at a point where marginal revenue is equal to marginal cost.
Q: •Suppose demand is Q = 100 – 2P •a.) Calculate the price elasticity of demand at P = $5. •b.) Calcul...
A: Given, Demand function, Q = 100-2P The price elasticity of demand can be derived as: ε=dQdP×PQP a) W...
Q: 3 Which of the following statements is /are incorrect in explaining the difference between M1, M2, ...
A: In an economy, the measurement of the money supply is M1, M2, and M3. These are also known as money ...
Q: Which statement about externalities is wrong? O Markets are typically not efficient in dealing with ...
A: Externality creates benefit or loss to third party who is not directly involved in the transaction.
Q: All people who have equivalent formal education earn similar incomes." Do you agree or disagree with...
A: Equivalent formal education The term formal education refers to an organized and uniform education s...
Q: What best describes the long run? a period of time that labor can change a period longer than six mo...
A: The long run is a span of time during which all production parameters and costs are subject to chang...
Q: E. DISCUSS HOW THE “STAGES OF GROWTH FRAMEWORK EXPLAINS ECONOMIC STRUCTURAL CHANGE.
A: In an economy, stages of growth framework include the stage of startup to growth, maturity and then ...
Q: Explain specifictly how to overcome and solve the major problem of Mcdonal's company from polluting ...
A: There are two crucial categories of business cycles which are inflation and recession. At the time o...
Q: The college graduates of 2000 could hardly have asked for better luck. The unemployment rate dropped...
A: Unemployment is defined as the state of not having a job. Unemployment is the number of people in th...
Q: How can the EverGrande housing scandal in China impact on Caribbean economic affairs. Use the IS/LM/...
A: Evergrande is a massive — and severely indebted — Chinese private-sector property developer and home...
Q: A firm has $200 million in total revenue and explicit costs of $190 million. Suppose its owners have...
A: Opportunity cost =10% of $100=$10 Economic profit =total revenue - total cost(explicit + implicit) ...
Q: Using shifts in supply and demand curves, describe a change in the industry in which your firm opera...
A: While demand makes sense of the shopper side of buying choices, supply connects with the vender's lo...
Q: Solve the following (i) |10–3x|517
A: Hi! Thank you for the question as per the honour code, we’ll answer the first question since the exa...
Q: Shift the demand curve, the supply curve, or both on the following graph to illustrate both the shor...
A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity d...
Q: B.4. a) Given a production function relating labour input to output, show diagrammatically the impac...
A: a) Given a production function relating labour input to output, show diagrammatically the impact of ...
Q: 1a) A monopolist maximizes profit by maximizing price. True False 1b) In the in an advertising "p...
A: 1a) A monopolist maximizes profit by maximizing price. True False Explanation:- False, A monop...
Q: Define and explain the importance of three concepts. Inflation Targeting Federal Open Market Committ...
A: When talking about economic stability, there are various tools used by the government in terms of fi...
I am confused between 20,000 and 25,000
Step by step
Solved in 2 steps
- Suppose Andrea has a job that pays her $50 000 per year (after taxes). She is considering quitting her job and going to university full time for four years. Tuition fees and books will cost $12 000 per year. Living expenses in either situation will cost $20 000 per year. What is the opportunity cost of Andrea's four-year university degree? $200 000 $128 000 $288 000 $240 000 $248 000By taking the train, Alain can travel from Paris to Lille in 1 hour. The same trip takes 5 hours by bus. The train costs 80 and the bus 20. When Alain is not traveling he can work and earn 25 per hour. a. What are the opportunity costs of traveling by bus and train for Alan? b. Will the answer change if another person chooses not to travel and work for 10 per hour? What is the new opportunity cost?Arlene quits her $125,000-a-year job to take care of her ailing parents. What is the opportunity cost of her decision? A. the value she attributes to the satisfaction she receives from taking care of her parents B. zero, since she will no longer be earning a salary C. It depends on the "going rate" for home-care providers. D. at least $125,000
- A potential entrepreneur is trying to decide whether to open a new health spa. She currently makes $35,000 per year as an aerobics instructor and will have to give up this job if she opens the new health spa. If she chooses to open the spa, it will cost her $200,000 per year in rent and other operating expenses.a. What are her opportunity costs? Give an example.b. How much would she need to make in revenues to earn positive economicprofits?College students sometimes work as summer internsfor private firms or the government. Many of thesepositions pay little or nothing.a. What is the opportunity cost of taking such ajob?b. Explain why students are willing to take thesejobs.c. If you were to compare the earnings later in lifeof workers who had worked as interns and thosewho had taken summer jobs that paid more, whatwould you expect to find?You were planning to spend Saturday working at your part-time job, but afriend asks you to go to Karma Beach. What is the opportunity cost of going to thebeach? Now suppose you had been planning to spend the day studying at the library.What is the cost of going to the beach in this case? Explain.
- John is an economist working for Ministry of Tourism in Suva, earning $30,000 per year. There are, say, three alternative careers available for John. He can work for Reserve Bank or Ministry of Economy in Suva for $25,000 and $28,000 per year respectively. Still another alternative is that he can set up his own economic consultancy firm, expecting to make a profit of $27,500 a year for himself. What is John’s opportunity cost of working in Ministry of Tourism?If Bruce pays $2000 in tuition fees to the college, what does his opportunity cost? $2000 minus the income the student forgoes by attending school rather than working. $2000. the income the student forgoes by attending school rather than working plus his tuition fees. there is no opportunity cost since Bruce chose to study rather than working.You have been working full time but think you would like to earn more money per hour in the future. You decide to take one class to see how you like it. In order to do so, you have to reduce your work hours to 30 hours per week. What is your opportunity cost in terms of both time and money if you make $10 per hour? What about if you make $20 per hour?
- You can either spend spring break working at home for $80 per day or go to Florida for the week. If you stay home, your expenses will total about $100. If you go to Florida, the airfare, hotel, food, and miscellaneous expenses will total about $700. What’s your opportunity cost of going to Florida?College students sometimes work as summer interns forprivate firms or the government. Many of these positions pay little or nothing. a. What is the opportunity cost of taking such a job? b. Explain why students are willing to take these jobs. c. If you were to compare the earning later inlife of workers who had worked as interns and those who had taken summer jobs that paid more, what would you expect to find?Jeff can opt to join singing classes or work as a part time job in that one hour. The job would help him make $500 per month Calculate the opportunity cost of Jeff opting for singing classes
