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: List the opportunity costs of the following: a. going to college b. missing a lecture c. withdrawing…
A:
Q: Bong-Cha is deciding what to do during the 30-minute break between her college classes. One rule she…
A: Opportunity cost: It refers to the benefits that a person has to sacrifice in order to choose…
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: Is opportunity cost a lost income? A. Yes B. Not
A: Economics is the study related to production, consumption, and transfer of money
Q: Class, if I give you a “free” ticket to the Opera House downtown, would you necessarily go? How can…
A: Opportunity cost is the value of next best alternative, that is benefit that could have been derived…
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: Timothy quits his job which pays $65 900 a year to enrol in a 2-year graduate program. His annual…
A: Opportunity cost measures the trade-off between two goods.
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: Ben considers going to the Kings of Leon concert in Philadelphia. A ticket costs $100. If Ben does…
A: The opportunity cost denotes the amount of potential gains (or benefits) that an individual or firm…
Q: examples how the opportunity cost is important for people's live?
A: The opportunity cost of an action is what you should give up when you decide to make that choice. It…
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: Bong-Cha is deciding what to do during the 30-minute break between her college classes. One rule she…
A: Here, it is given that Bong-Cha makes her decision on how to spend her 30 mins break. Also, she has…
Q: growing opportunity What would the curve cts . like if opportunity costs fixed? (Voice you onse or…
A: When the production possibility curve is concave in shape then the opportunity cost is increasing.…
Q: Kevin is considering going to a rock concert. The ticket will cost him need to spend $3 on gas to…
A: The opportunity cost of doing an activity is the loss of value associated with the next best…
Q: By taking the train, Alain can travel from Paris to Lille in 1 hour. The same trip takes 5 hours by…
A: Opportunity cost is the benefit that is not received due to not choosing the other option.
Q: A popular bakery has only a few ingredients left to make their products. They could bake muffins or…
A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the economic…
Q: sity where he is getting a liberal arts education. What can we definitely say about Carlos' ortunity…
A: Since you have asked multiple questions we will solve first question for you if you want other…
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: imothy quits his job, which pays him $96600 a year to enroll in a 4 years graduate program. His…
A: Opportunity cost (OC) is the forgone benefit that will have been derived by an option not chosen .OC…
Q: Sam has two options this weekend. He could work at his job and earn $9/ hour for three hours, or he…
A: Next best alternative cost is the opportunity cost. If Sam is going to theatre, he would spend $30…
Q: Maria has just paid down on a small apartment for which the mortgage is $2200 per month. Before she…
A: Opportunity cost is the cost of next best alternative forgone. It is the cost of the alternative…
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: Whether the statement, 'A nonrefundable cash outlay (e.g., money spent on a passport) is an example…
A: The term opportunity cost implies that the next best option forgone
Q: You decide to join the football team, but this means you can't join the basketball team, as the…
A: There exists a trade off between joining basketball team and football team as both teams practice at…
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: Karen can make 4 jackets or 17 ties in one day working at the clothing factory can make 8 jackets or…
A: Opportunity cost measures the trade-off between two goods i.e. it measures what we give up to obtain…
Q: • Describe various opportunity costs of attending college. Given these opportunity costs, why do…
A: As a matter of first importance we want to comprehend what opportunity cost is:- OPPORTUNITY COST is…
Q: hat is your opportunity cost of going to college
A: Opportunity cost is a notional cost it is a lost opportunity in choosing the best alternative from…
Q: What’s the difference between trade off and opportunity costs
A: As we know that human wants are limited but means to satisfy these wants are limited. A person has…
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: Magdalena decides to plant some fresh flowers in her garden? what is the opportunity cost a.Time…
A: The opportunity cost of a specific activity option in microeconomic theory is the loss of value or…
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: What is the opportunity cost of attending college ?What happens in terms of opportunity cost as one…
A: In terms of the opportunity cost, as one gets more educated such as earning a graduate degree or the…
Q: when we choose to go to college, we have to give up the salary that we should be able to get if we…
A: Opportunity Cost is the cost of foregone alternative. It is the cost of the alternative that is not…
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: 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: In a small town, there's a mousepad factory which employs workers at $8 an hour, for forty-hour…
A: Opportunity cost is the cost of loosing one opportunity for gaining the best other one or we can say…
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- The production possibility curve shows all the following except O a. Economic growth O b. The law of demand O c. The supply curve of 2 goods O d. The law of increasing opportunity cost O e. Inefficiency in productionHacmillan Leaming Christine and Paul are deciding how to split their time between writing music and lyrics for their new album. Their PPF's for 72 h of work are shown. Christine and Paul have to write music for 8 songs and lyrics for 12 songs (4 songs already have music). When they are done, they can go to a private island and relax from all their hard work. It is possible that they will use more than 72 h. Once they start writing lyrics and music, assuming their hired help packs for them and their plane is waiting outside their door, in how many hours can they board the plane to their relaxing island getaway? Christine will write music for Paul will write music for Christine will write lyrics for Paul will write lyrics for h songs. songs. songs. songs. Music written (in # of songs) 1 0 Paul's PPF 1 Christine's PPF 2 Lyrics written (in # of songs))-50 Eleanor and her little brother Josh are responsible for two chores on their family's farm, gathering eggs and collecting milk. Eleanor can gather 10 dozen eggs or collect 5 gallons of milk per week. Josh can gather 2 dozen eggs or collect 2 gallons of milk per week. a. The family wants 2 gallons of milk per week and as many eggs as the siblings can gather. Currently, they collect one gallon of milk each and as many eggs as they can. How many dozens of eggs does the family have per week? ‒‒‒‒ (Click to select) Edozen eggs. b. If the siblings were to specialized, which should collect the milk? (Click to select) c. If the siblings were to specialize, how many dozens of eggs would the family have per week? (Click to select) dozen eggs.
- 1. Kim owns a Porsche and a Toyota. The Porsche has a fuel economy of 15 miles per gallon (mpg) and she plans to drive it 3,000 miles this year. The Toyota gets 30 miles per gallon and she plans to drive it 15,000 miles this year. Suppose Kim can install a device that improves the fuel economy of any vehicle by 5 miles per gallon. However, she only has one of the devices. Which vehicle should she install it on if her goal is to minimize fuel consumption this year? Assume that the device does not hamper vehicle performance in any way.Suppose your Chaffey college tuition per semester is $4,000 and your extra expenses with the college during the year (books, ather materiais, gas, meals, etc) sum $3,000. If you were not attending college, you could work at firm X and get an annual salary of $ 5,000. What is your opportunity cost of attending college in one year? In your calculations assume that you are taking 2 semesters in a yearMacmillan Learn Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. Potato Chips 50 45 40 35 30 25 20 15 10 Incorrect 5 O 0 5 10 15 20 25 30 Computer Chips 35 40 Ned's PPP 45 50 What is the opportunity cost of potato chip production in terms of computer chips? 4/3 0 0 0 1/2 50 25 2 3/4
- Manuel rents a house for $21,500 per year. The house can be purchased for $375,000, and he has this much in a bank account that pays 6% interest per year. What is Manuel's opportunity cost of buying a house? $22,500 per year $21,500 per year O $50,000 per year $375,000 per yearOne word Which economics is concerned with the evaluation of the alternative economic situations from the point of view of the society well beingThe concept of opportunity cost is that the economic cost of using a factor of production is the alternative use of that factor that is given up. O the cost of production varies depending on the opportunity for technological application. O taking advantage of investment opportunities involves costs. O in a market economy, taking advantage of profitable opportunities involves some money cost.
- 3. Suppose you currently earn $80,000 a year. You are considering a job that will increase your lifetime earnings by $400,000 but that requires an MBA. The job will mean also attending business school full time for two years at an annual cost of $70,000. You already have a bachelor’s degree, for which you spent $150,000 in tuition and books. a. Which of the above information is relevant to your decision on whether to take the job? b. What is the opportunity cost of going to school to study MBA? c. Should you take the job? [Note: You will need to get the MBA]bongo O Topic: H G How wc A Recorde * Min x b Answere A Files A Grades Q ETX 20 Q Midtern Q ETX 20 Q ЕTX 20 M Inbox (7 A Assignn C Crunch N Netflix O (5) COA ng.cengage.com/static/nb/ui/evo/index.html?deploymentld=5983131871027318950422967971&elSBN=97803571336688&id=D1056367112&isnapshotld=2191097& Update : Geoffrey v CENGAGE MINDTAP Q Search this course A My Home Homework (Ch 16) The following graph shows the money market in equilibrium at an interest rate of 7.5% and a quantity of money equal to $60 billion. Courses Show the impact of the increase in government purchases on the interest rate by shifting one or both of the curves on the following graph. O Catalog and Study Tools A-Z Partner Offers EE Rental Options 15.0 Money Supply - College Success Tips 12.5 Money Demand Career Success Tips RECOMMENDED FOR YOU 10.0 Money Supply 7.5 5.0 Evaluating Online Money Demand Information 2.5 e Help 20 40 60 80 100 120 Give Feedback MONEY (Billions of dollars) Suppose that for each…Problem 3Suppose the following data reflect the production possibilities for providing healthcare and education:Units per YearHealth Care 400 370 330 270 190 100 0Education 0 20 40 50 60 70 80(a) Graph the production possibilities curve.(b) If maximum health care is provided, how much education will be provided?(c) What is the opportunity cost of increasing health care from 270 to 330 units?