Jonathan is deciding whether to study for his economics exam at a café or go to a concert with friends tonight. The cost of tuition for his economics course is in his opportunity cost calculations for this decision and represents a cost. A. included; financial B. not included; sunk C. not included; financial
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- Is this a good example of an opportunity cost? “To begin, I began selling prints of my pictures in 2019 throughout 2020. It's now closed. USPS and UPS were the options I had during this period to ship out orders. At the moment I didn’t have enough knowledge about USPS, so I chose to ship my prints via UPS rather than USPS. My orders weren’t delivered on time and upon arrival, the prints were damaged, and I spent a large amount of money shipping these orders out. The opportunity cost is the cost of USPS shipping.”Can you help me in this? True/False Opportunity cost is the cost of next foregone.Whether the statement, 'A nonrefundable cash outlay (e.g., money spent on a passport) is an example of an opportunity cost', is true or false?
- Is this a good example of opportunity cost? Why or why not. “In 2019, I started my small business by selling prints of my photographs. Now it’s temporarily closed. During this time I had the option of shipping my prints through USPS or UPS. I decided to ship my prints through USPS instead of UPS since it was a bit expensive at the time. My prints that were shipped out from USPS arrived in time and came in good condition. The opportunity cost is the cost of UPS.”Is this an example of opportunity cost? “To begin, I began selling prints of my pictures in 2019 throughout 2020. It's now closed. USPS and UPS were the options I had during this period to ship out orders. Because UPS was more expensive at the moment, I chose to mail my prints via USPS rather than UPS. My orders were delivered on time and without damage by the United States Postal Service. The opportunity cost is the cost of UPS.”Good day! I need your help tutor please answer the question attached below. The answer is already provided, which means that will be your basis if your answers are correct or not. Ps. In your solution, you identify the given and the what is being asked in the problem and I want to see the formula that you used and box your final answer. Don't give me a solution that is made in ms excel, I am not econ major so i'm asking for you to do the manual or the traditional computation.Lastly, don't give me a shortcut solution because i want to learn and study your computation :) Pps. I want you to use the Present Worth Method,Annuity Worth Method, Future Worth Method .(if applicable)
- Good day! I need your help tutor please answer the question attached below. The answer is already provided, which means that will be your basis if your answers are correct or not. Ps. In your solution, you identify the given and the what is being asked in the problem and I want to see the formula that you used and box your final answer. Don't give me a solution that is made in ms excel, I am not econ major so i'm asking for you to do the manual or the traditional computation.Lastly, don't give me a shortcut solution because i want to learn and study your computation :) Pps. I want you to use the Present Worth Methods (if applicable)Your Econ. Professor bought airline tickets to leave a conference early on Saturday morning. He later found out that he needed to present a paper later that Saturday, so he changed his tickets at a cost of $200. When he got to the conference, he discovered that he was scheduled twice: on Friday and on Saturday. He was given his choice of when to give the presentation. He said he would present on Saturday, because he paid an extra $200 in order to stay. Explain why you agree or disagree with his logic.Elliot and Jordy find themselves on a deserted island. The only two activities available are fishing and finding pineapples. In a full day, Elliot can catch 6 fish or find 12 pineapples or some linear combination of the two; in the same time, Jordy can catch 4 fish or find 10 pineapples or some linear combination of the two. What are each individual’s marginal costs of fishing and finding pineapples? (must provide the correct answer for full credit, no additional work is necessary) Who has an absolute advantage in fish production? Who has an absolute advantage in finding pineapples? Briefly explain your reasoning. Who has a comparative advantage in fish production? Who has a comparative advantage in finding pineapples? Briefly explain your reasoning.
- Apply the concept of opportunity cost to the following scenario: You have invested S500 for a roundtrip fare for your vacation trip abroad with a specific airline. However on the way back your flight has gotten delayed due to strike of air workers and hence you will return home a day late. You could pay an additional $200 with another flight to reach home early next day. What is the opportunity cost of missing work for that one day?i need in marginal analysis. and i need in words. not handwrittenIs this a good example of opportunity cost? “In 2019, I started my small business by selling prints of my photographs. Now it’s temporarily closed. During this time I had the option of shipping my prints through USPS or UPS. I decided to ship my prints through USPS instead of UPS since it was a bit expensive at the time. My prints that were shipped out from USPS arrived in time and came in good condition. The opportunity cost is the cost of UPS shipping and being able to ship out international orders. “
