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wel
2 years ago
11

s planning a cruise to Mexico and has a budget for new clothes of $300. The average price for a pair of shoes is $50 while the a

verage price for a suit is $100. Danielle already has 4 pairs of shoes purchased for her cruise, what is the opportunity cost of buying two more pairs of sh
Business
1 answer:
Tresset [83]2 years ago
3 0

The opportunity cost of buying two more pairs of shoe is 1 suit.

<h3>What is opportunity cost?</h3>

Opportunity cost is an economic term for expressing cost, in terms of foregone alternative.

Given the information above,

Her opportunity cost of consuming one extra pair of shoes instead of one suit

= $50 / $100

= 0.5 suit or half a suit

Her opportunity cost of consuming one suit instead of a pair of shoes

= $100 / $50

= 2 pairs of shoes

Hence, the opportunity cost of consuming 2 more pairs of shoes

= 0.5 suit x 2

= 1 suit

Learn more about opportunity cost here: brainly.com/question/14909550

#SPJ1

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3 years ago
Which of the following best represents the misallocation of resources that would occur under a price ceiling on bottled water fo
solong [7]

Answer:

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3 years ago
S&amp;W has 21,000 shares of common stock outstanding at a price of $29 a share. It also has 2,000 shares of preferred stock out
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Answer:

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Explanation:

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total value = 609000 +142000  +386000 =   $1137000

weight of preferred stock= \frac{142000}{1137000}

                                                 = 0.1249

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4 years ago
In the long​ run, changes in the price level do not affect the level of real GDP. B. In the long​ run, increases in the price le
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Answer:

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3 years ago
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A property management group is interested in diversifying its company to operate properties for low-income housing, but the grou
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The property management company has already been involved in property management,but in this case it is for High income earners,since it is now interested and wants to diversify to property management for low income earners,this approach to diversify is called RELATED DIVERSIFICATION.

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3 years ago
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