Question

The scenarios each illustrate a principle of economics. classify each scenario according to the principle that best fits it. you are currently in a labeling module. turn off browse mode or quick nav, tab to items, space or enter to pick up, tab to move, space or enter to drop. on black friday, there are huge sales for electronics at many retail stores. david must decide between buying a camera at one store or a flat screen tv at another store, and buying one means losing out on the ability to purchase the other. an educational software company wants to expand the number of economics questions that it offers and is considering hiring another economist. the company compares how much adding another worker will improve the product to the additional cost. ava finds that there is not enough time after work to have dinner, exercise, and watch tv, and she must make choices about how to use her limited time.

Answer 1

David's decision on the electronics to purchase represents opportunity cost.

The decision to hire another economist is marginal analysis.

Ana's decision on how to use her time involves opportunity cost.

What is opportunity cost?

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When an economic agent chooses one option, he would not be able to choose another option.

What is marginal analysis?

Marginal analysis involves comparing the marginal cost or / and the marginal benefit of a decision.

To learn more about opportunity cost, please check: brainly.com/question/26315727

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