Suppose you get $1,000 as a birthday gift.  You can spend it today or you can put the money in a bank for a year and earn 2 percent interest.  What is your opportunity cost of spending the money today?

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: You got a leaf blower for free at a yard sale. You are thinking of using it to clean leaves in your…

A: opportunity cost is the cost of loss of one opportunity to choose the other alternative. In other…

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

A:

Q: What is opportunity cost?

A: "In economics, cost refers to the value of money that is spent in order to produce a good." Costs…

Q: You’re dreaming of what to do during a nice summer day. You could mow the lawn which you would pay…

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

Q: How is it that the problem of who to produce for is resolved in the capitalist system?

A: A capitalist system is an economic system that is run by the free enterprises of the market. In this…

Q: Generally, opportunity costs increase and the production possibilities curve bows outward. Why?

A: The production possibility curve is the locus of different combinations of two goods that an economy…

Q: Why study economics?

A: ExplanationEconomics is the study of markets where there exists  and interaction of buyers and…

Q: What does the Powerbar model tell us about how creativity fits into a market economy?

A: Ans-    Market power model means a broader market which existing rebranding bar.  It is constant…

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: You have been working full time but think you would like to earn more money per hour in the future.…

A: For both $10 and $20,30 hours would be the opportunity cost in time.

Q: Will giving children/students money help improve their interest in Economics and increase their…

A: When talking about the study of economics and finance, it can be said that a student learns a…

Q: You have just woken up and are deciding whether to sleep for one more hour or not. If you don’t go…

A: Oppurtunity cost is defined as the cost incurred by any individual when benefits associated with the…

Q: You have just woken up and are deciding whether to sleep for one more hour or not. If you don't go…

A: Opportunity cost refers to the value of next best alternative use of given resources.

Q: What does the law of increasing opportunity cost state?

A: Law of Increasing opportunity cost staes that when the production of a particular product is…

Q: Your group won $100 from a Tiktok dance challenge. You have a choice between spending the money now…

A: When talking about opportunity cost, it refers to the loss of income or additional cost that occurs…

Q: How do you evaluate your opportunity cost in terms of the alternative decisions that you have to…

A: Oportunity cost is the following best elective which we have renounced because of purpose of present…

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: What are the decisions that people have usually made that incurred opportunity costs?

A: The opportunity cost of a specific activity option in microeconomic theory is the loss of value or…

Q: Tonight, you and your friends are planning to see Black Panther for which you have a $4 off coupon.…

A: Opportunity costs are represented by the potential advantages an individual, investor, or business…

Q: The opportunity cost of any decision that you make involves giving up something. I would like you to…

A: The opportunity cost is the cost of the next best alternative that is being foregone by the…

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: Identify the types of opportunity cost that people often undervalue,and explain why undervaluing…

A: Opportunity cost is equal to the value of the next best alternative foregone. In other words, the…

Q: 1. Discuss the idea of an opportunity cost and think of three opportunity costs that you have made…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: opportunity cost

A: Opportunity cost: It refers to the cost which is to be occur by the company for choosing the next…

Q: If Bruce pays $2000 in tuition fees to the college, what does his opportunity cost?     $2000…

A: Opportunity cost is the value of something that must forgo to acquire something else. Thus, the…

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: You win $100 in a basketball pool. You have a choice between spending the money now or putting it…

A: The opportunity cost refers to the amount or value that one has to give up in order to choose…

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: Identify a recent purchase that you made, recently, and determine how scarcity influenced your…

A: Scarcity refers to the finite existence of a resource, or commodity. Humans need a number of goods…

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: Today, an estimated 2 million people drive for Uber, often evenings and weekends after they’re…

A: The economics as a study is based upon the idea that the resources which are available with each…

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: 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: Give two examples of opportunity one can face today

A: Opportunity cost is the cost of next alternative forgone while making decision, i.e. it is the loss…

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: Incentives and opportunity costs. Why do we do the things we do, and how do opportunity costs show…

A: The concept of scarcity is used to explain the existence of opportunity cost in economics. In the…

Q: If your tuition is $25,000 this semester, your books cost $1,500, you can only work 20 rather than…

A: Opportunity cost is the cost of all the benefits from one decision that are forgone for some…

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: 4. The opportunity cost of changing your decision on what to major in college is highest___   a.…

A: Opportunity cost can be defined as the benefit that has been forgone of the next best alternative…

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: What is a trade off? How does economics decide on what must be produced? What is an opportunity…

A: Answer: What is a trade-off? Trade-off: trade-off refers to the situation where one choice or good…

Q: What is the opportunity cost of going to college?

A: Opportunity cost is the next best alternative foregone. Opportunity cost=sacrifice/gain.

Q: Discuss how race, citizenship, and gender intersect with economics and those intersections affect…

A: In communism and communist type of government, there is complete control and rule of government over…

Q: Does an increase in the opportunity cost mean that you have to give up more to obtain something…

A: The benefit which is forgone that would, in turn, had been derived through an option not being…