You win $100 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the $100 now?

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: Suppose Alphonso’s town raised the price of bus tickets to $1 per trip (while the price of burgers…

A: Given information: The price of bus tickets rises to = $1 per trip Price of burger = $2 Budget = $10

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 can spend spring break either working at home for $80 per day for five days or go to Guam for…

A: The opportunity cost is the value of the next best alternative.

Q: what is the potential opportunity cost of watching a lot tv show.

A: If a lot of television is watched, then it reduces the time available for other activities, for…

Q: Why study economics?

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

Q: You leave work two hours early from $10 an hour job, stopping to buy a $15 take-out dinner as you…

A: Opportunity cost is the sacrifice of the benefit of a particular task for doing another task. The…

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 been going to school and working 10 hours a week. The school offers you a scholarship worth…

A: 1)Opportunity cost in time-10 hours In money 10*10=100 per week. 2)I would choose quarter because…

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: What is an Opportunity Cost in economics? Answer by giving an example.

A: Opportunity costs are the cost that represents the potential advantages an individual, investor, or…

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: True or false? Scarcity in economics could be eliminated but poverty could not.

A: Scarcity is gradually considered as one of the basic or primary problem of the economy, the wants…

Q: The financial costs of obtaining a college education include tuition and fees, textbooks, and for…

A: Opportunity cost is the forgone benefit from the next best alternative by choosing another…

Q: Write a positive statement and a normative statement about your favorite hobby.

A: Positive statements are those statements in which we can answer with 'yes' or 'no' replies, whereas,…

Q: What is the opportunity cost of moving from point I to point D? Explain.

A: The maximum output of two items utilizing a fixed amount of input is measured by a production…

Q: Opportunity cost Tony buys a pizza and with that same amount of money he could have bought a drink…

A: Economics is the study of the efficient allocation of resources in the economy. Resources are scarce…

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: attending summer school cost 2,200. If you worked, you could earn 7,000. What is the opportunity…

A: Opportunity Cost:The opportunity cost of using a commodity or activity is equal to the value or cost…

Q: (Opportunity Cost) You can spend spring break either working at home for $80 per day for five days…

A: When it comes to evaluating a company's capital structure, opportunity cost analysis is vital. In…

Q: opportunity cost

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

Q: What is an opportunity cost? Give an example from class or make up your own

A: Economics studies how scarce resources are allocated in a manner that most of the human needs are…

Q: Suppose your friend ask you to go watching a movie while you are studying for an examination. what…

A: Answer: Opportunity cost is the cost that arises due to the sacrifice of the benefit that could have…

Q: “Scarcity is the fundamental problem that every nation in this world faces.”  What do you mean by…

A: Economic decisions are those decisions in which people will choose what to do with limited…

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: What is the opportunity cost of going to university? the total spent on food, clothing, books,…

A: The Opportunity Cost(OC)shows the possible benefits an individual, firm, or investor misses out on…

Q: Opportunity cost is whatever you give up to get something. What is the opportunity cost of staying…

A: Answer: Opportunity cost: The opportunity cost of an action refers to what people give up to do that…

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: 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: 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: 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: Marlene and Mya both work as artists. Marlene can produce 3 small sculptures each day or 30…

A: The opportunity cost is the benefit that would have been obtained if a different option had been…

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: Suppose you get $1,000 as a birthday gift.  You can spend it today or you can put the money in a…

A: The opportunity cost of spending the money can be calculated as follows: When the $1,000 gift amount…

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…