What is the opportunity cost for free colleges: There are still costs to run colleges, discuss some of the major costs the colleges incur in general operations.  Who will cover these costs? What is potentially being given up?

Q: Decide whether each of the following descriptions most closely corresponds to being part of a…

A: ANS A command economy is a form of economy where any economic problems are solved according to the…

Q: Explain how the free market capitalism provides for the creation of the pencil at the best price and…

A: The system of private players where they own the means of production is known as market capitalism.…

Q: Inayah needs Rs.100, 000 to start an ice-cream business. If she uses Rs.40, 000 from her savings and…

A: Given that, Inayah needs Rs.100, 000 to start an ice-cream business. If she uses Rs.40, 000 from her…

Q: Understand the opportunity as a product development phase, includes:

A: The following are the stages of a product development process: Generation of product concepts…

Q: ou are a minimum-wage worker at a U.S. company that makes cars. Last month’s finance report on your…

A: Difference between total costs and total revenue gives total profits of a firms. Number of output…

Q: Administrative Office Management is used in Economics?

A: Office management is the strategy of arranging, putting together, planning and controlling office…

Q: Define and discuss free enterprise and define and discuss profit motive?

A: Free enterprises are also known as free markets.

Q: A business normally produces and sells as much as demand allows. However, sometimes is constrained…

A: The inputs required to produce a thing or service are known as factors of production, and they…

Q: "Costs do not affect the market price" is this statement right or wrong? Show your work

A: Answer: According to a prior research of price determination in the market age, production expenses…

Q: Applying the concept of marginal costs, how would you, as a business owner, decide how much to…

A: There are basically two types of costs- fixed costs and variable costs. The variable cost refers to…

Q: Modern farming methods require more inputs which are manufactured inIndustry.Do you agree.? No 2 How…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Do you think state run colleges should be free?  Who benefits from free college tuition?  Who might…

A: Public services are those services that are for the people of thr country. These services are…

Q: The oversupply of bananas in Mexico, which is recorded in the months of September and October,…

A: The increase in income that occurs from the sale of one more unit of production is known as marginal…

Q: Trends, or patterns of change, in the external business environment can create opportunities or…

A: A consumer's desire to buy products and services, as well as their willingness to pay a price for…

Q: hat initiatives are useful in improving profits?

A: Since businesses are experiencing different types of fundamental transformations due to…

Q: QUESTION 1 Choose the most correct answer to the following questions/phrases. Only write do the…

A: Disclaimer: Since you have asked multiple questions, we will solve the first question for you. if…

Q: Bedrock Real Estate wanted to produce a film showing that the clichéd downtrodden views of Detroit…

A: The aim of Bedrock Real Estate is to make Detroit residents feel proud of where they live.

Q: What advantages does the Cotton Gin have over previous technologies?

A: A cotton gin is a machine that separates cotton fibers from their seeds fast and efficiently,…

Q: Your best friend has an idea for a long-distancecar service to drive people across the…

A: People prefer rail, or airplane service for the long-distance journey as it is an efficient…

Q: explain why education is under consumed in the market place and what this means for society

A: Education is a merit good. Other examples of merit good include healthcare, museums, etc.

Q: The economic system design based on three questions as what get produced? How is it produced ? And…

A: Because of scarcity every society or economic system must answer these three (3) basic questions:…

Q: Inayah needs Rs.100, 000 to start an ice-cream business. If she uses Rs.40, 000 from her savings and…

A: If she takes the loan of 60,000 and the interest rate is 5%, then she has to pay back is…

Q: Why are the businesses required to keep the production costs low?

A: Any businesses have the motive of maximizing profits, and we obtain profit by deducting total costs…

Q: opportunity costs

A: Opportunity cost is the cost of the next best alternative that has to be foregone. In other words,…

Q: How does the Government examine Cost-Benefit analysis? What are the Characteristics of a Purely…

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…

Q: 1. Buyer Seller Relationship 2. Business Competition 3. New Business Venture

A: 1 Buyer Seller Relationship It is the buyer and the seller relationship in between the commitment…

Q: Overtime in agriculture, farms with high average fixed costs of production are forced out of the…

A: Average fixed cost is the fixed cost per unit of output, which decreases with an increase in output.

Q: _____ using more capital than labor in the production process?.(fill in the blank)

A: Production process is the process in which inputs are used to make output for consumption.  Capital…

Q: Harry Homeowner pays $300 monthly on a mortgage in a community where identical houses rent for $800…

A: Opportunity cost is being calculated by an investor by making a comparison of returns of two options…

Q: Articles and books that were written thirty or even forty years ago can be included in the…

A: A review that includes a summary, overview, and evaluation regarding the current knowledge state…

Q: TIM: Hi, Raphael. Many concepts in economics can be confusing at first. Let's talk it through.…

A: Opportunity cost is the cost associated with the value of the option/alternative which is not chosen…

Q: Car Manufacturer Scenario: You are a minimum-wage worker at a U.S. company that makes cars. Last…

A: Given the number of cars sold = 200 Cost of cars = $2000000 Revenue from cars = $2400000

Q: Does innovation start with creativity? Do you agree? Why or Why not?

A: The given statement is correct. Creativity is the ability or act of making something original and…

Q: Give an example of a good research interview question. What makes it good/effective? Explain.

A: Research:- "Creative and organized activity performed to boost the reservoir of knowledge" is what…

Q: Recall an issue or situation indicating that production is relevant to making everyone better off.…

A: When a product is put into the manufacturing process, costs occur and various factors of production…

Q: Carlos is a 74-year-old professor. He teaches only one or two courses a year, but he's still…

A: Discouraged workers are those who are in search of jobs but after unsuccessful searches have given…

Q: Which area best represents the inefficiency associated with this level of production?

A: Option (b).

Q: Drag and drop the answer to the correct box. Traditional economy Free enterprise or Market economy…

A: Types of Economy 1. traditional or subsistence economy 2. Free enterprises or Market Economy or…