1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Wewaii [24]
2 years ago
6

Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12, and pot r

oast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is
Business
1 answer:
antiseptic1488 [7]2 years ago
8 0

Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12 and pot roast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is $15 EX.

<h3>What Is Opportunity Cost?</h3>

Opportunity costs represent the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Because opportunity costs are unseen by definition, they can be easily overlooked. Understanding the potential missed opportunities when a business or individual chooses one investment over another allows for better decision making.

Opportunity cost is often overlooked by investors. In essence, it refers to the hidden cost associated with not taking an alternative course of action. If, for example, a company pursues a particular business strategy without first considering the merits of alternative strategies available to them, they might fail to appreciate their opportunity costs and the possibility that they could have done even better had they chosen another path.

Formula Of Opportunity Cost

​Opportunity Cost=FO−CO

where:

FO=Return on best forgone option.

CO=Return on chosen option.

​

Learn more about Opportunity cost on:

brainly.com/question/12121515

#SPJ4

You might be interested in
True or false: forecasts are set on the marketing budget detail spreadsheet.
Sladkaya [172]
The statement above is true. Forecasting is the utilization of notable information to decide the heading of future patterns. Organizations use estimating to decide how to apportion their financial plans or plan for expected costs for an up and coming timeframe. This is regularly in view of the anticipated interest in the products and ventures they offer.
4 0
3 years ago
Read 2 more answers
A. by how much will gdp change if firms increase their investment by $11 billion and the mpc is 0.9?
Sliva [168]

Answer:

The answer is <u>"$110 billion".</u>

Explanation:

Firms increase their investment by $11 billion

mpc = 0.9

gdp = ?

To find the gdp, first we have to find expenditure multiplier;

we will find that by using the formula;

expenditure multiplier = 1/(1-0.9) = 1/0.1 = 10

Now gdp = 10 x $11 billion

= $110 billion

Thus the <u>gdp is $110 billion.</u>

6 0
3 years ago
The difference in average annual income in favor of employees who have college degrees, compared with those who do not have such
Kay [80]

Answer yee:

Explanation:

6 0
3 years ago
A purchase made with no planning or research is a(n) __ buying decision.
Pachacha [2.7K]
<span>A.impulse
Hope this helps.</span>
5 0
3 years ago
Read 2 more answers
Louise has prepared a brief questionnaire to find out how satisfied her clients are with the service she has been providing them
mestny [16]
The are great company and very patients w clients
6 0
3 years ago
Other questions:
  • Sharon spent the weekend with her friend amelia. amelia proposed a plan for shoplifting cd's from a local music store. sharon wa
    11·1 answer
  • A person wants to invest $10,000 into stocks: a high tech company (T) with an expected annual return of 12% and a risk index of
    14·1 answer
  • The Rogers Corporation has a gross profit of $784,000 and $314,000 in depreciation expense. The Evans Corporation also has $784,
    6·1 answer
  • The Discount on Bonds Payable account is: A. A liability. B. A contra liability. C. A contra expense. D. An expense. E. A contra
    12·1 answer
  • How can u tell if small parts of a car is gone
    5·1 answer
  • The total assets and total liabilities (in millions) of ABC Corporation and XYZ Corporation follow:
    7·2 answers
  • A monopolist faces a demand curve given by: P = 105 – 3Q, where P is the price of the good and Q is the quantity demanded. The m
    7·1 answer
  • Present Value of Ordinary Annuity Period/Rate 5% 6% 7% 8% 9% 10 7.7217 7.3601 7.0236 6.7101 6.4177 11 8.3064 7.8869 7.4987 7.139
    12·1 answer
  • ABC Company has completed the basic format to be used in preparing the statement of cash flows (indirect method). Listed below i
    8·1 answer
  • The richest 1% of the world's population owns more wealth than the rest of the 99% combined. True or False
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!