2(b)(i) Timothy quits his job, which pays $6000 a year to enroll in a 2-year graduate program. His annual school expenses are $60000 for tuition, $8000 for books and $1400 for food. What is his opportunity cost of attending the graduate program. 2b(ii) What core principles are considered in Timothy’s decision making? Scarcity, choice and opportunity cost Cost-Benefit analysis Incentive principle Diminishing returns Select one: All principles are considered (i) only (i) and (ii) only (i), (ii) and (iii) only (ii) and (iii) only (i) and (iv) only (ii) and (iv) only (iii) and (iv) only

2(b)(i) Timothy quits his job, which pays $6000 a year to enroll in a 2-year graduate program. His annual school expenses are $60000 for tuition, $8000 for books and $1400 for food. What is his opportunity cost of attending the graduate program. 2b(ii) What core principles are considered in Timothy’s decision making? Scarcity, choice and opportunity cost Cost-Benefit analysis Incentive principle Diminishing returns Select one: All principles are considered (i) only (i) and (ii) only (i), (ii) and (iii) only (ii) and (iii) only (i) and (iv) only (ii) and (iv) only (iii) and (iv) only

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 1.4P

See similar textbooks

Similar questions

2b (I) 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? 2b(ii) What core principles are considered in Timothy’s decision making?
6 - Which of the following statements about Engineering Economics is correct?A) Engineering Economy means offering the best quality product / service at the most affordable price.B) Engineering Economics means to be able to calculate profit and loss in investments.C) AllD) Engineering Economics requires knowledge of cost management.E) Engineering Economics means making cost-benefit calculations.
11 - Which of the following statements about Engineering Economics is false?A) Engineering Economics requires knowledge of cost management.B) NoneC) Engineering Economy means producing the best quality product/service at the most affordable price.D) Engineering Economics means being able to calculate profit and loss on investments.E) Engineering Economics means making cost-benefit calculations.
SPL Group is into mining, agricultural-based and forest-based products, supplying wood, coal, carbon black, tendu leaves, tobacco extracts, honey, herbal, tree-barks (such as cinnamon) and opiates to intermediaries who make cigars, cigarettes, toothpowder, anti-psychotic drugs, etc. The group firmly believes in the ‘Triple Bottom Line’ of 3Ps, creating value for all the stakeholders; Planet, People and then Profits. SPL Group is committed to developing its business towards ecological, social and economic sustainability. All of these are recognized as shared responsibilities within the Group, enabling the continuous improvement of its operations.The company has initiated a multi-pronged approach to CSR within the organization.The ultimate objective is to see that each business decision takes into account its social impact and accordingly plans an intervention to mitigate the impacts arising out of that decision. It is equally important to ascertain that every activity done under CSR…
5.- What does the economic evaluation consist of?
7- I want answer with steps of Critical Path Method urgently please. Many thanks
Give one real life situation example for 7 Principles of Engineering Economy 1. Develop the Alternatives 2. Focus on the Differences 3. Use a Consistent Viewpoint 4. Use a Common Unit of Measure 5. Consider all relevant criteria 6. Make risk and uncertainly explicit 7. Revisit your decisions
Economists charged with the responsibility for performing a benefit–cost analysis encounter many decision points requiring judgment. Explain using suitable example how the decision point below is applied in benefit–cost analysis. Tangible versus Intangible Benefits
Question : Assume that an individual is planning to go to the USA to get a master's degree in Industrial Engineering. Use the rational decision-making process to generate alternatives to help them decide on which graduate school would be the best to continue their education in. Use the rational decision-making process to describe the problem, define the criteria (at least 5) and their weights, define the alternatives (at least 5) and choose the best alternative
1. What are some steps for an implementation plan for the recommendations provided below.
Analyze your current organization’s primary stakeholders and provide examples of those stakeholders. Be diligent and try to provide examples of all six categories mentioned as primary stakeholders in Figure 2.2.
Make a conceptual framework about this.. As of now most of the local farmers are currently struggling when it comes to harvesting and trading their crops due to financial challenges. Most of their businesses whether they are a supplier or just owning a small vegetable store in the market will often encounter this inconvenient situation. However the most important things to do is to manage and find a solution properly when it comes to facing such problems