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vampirchik [111]
1 year ago
6

Explain why a relative price is an opportunity cost. The money price of a pound of bananas is $0. 90 and the money price of a tu

be of toothpaste is $2. 25
Business
1 answer:
dimaraw [331]1 year ago
6 0

The opportunity cost is stated in relative pricing, that is, the price of one option in comparison to another.

When there are numerous vendors in a market but no one is significant enough to control the price of a product. Because both items must be produced, the relative price must match the opportunity cost. If the opportunity cost of one good is lower in the home country than so will be the relative price.

As bananas cost $0.90 per kg, so, if  a toothpaste is  for $2.25, we are forgoing 2.25 kgs banana (2.25/0.9). Thus, the opportunity cost is 2.5 kg bananas which is equal to the relative price of bananas.

Therefore, relative price is an opportunity cost.

To know more about relative price click here:

brainly.com/question/14187254

#SPJ4

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Label popular sports with the countries in which they are the most popular
kifflom [539]

cricket- India

football- Russia

tennis- France

8 0
2 years ago
William installs custom sound systems in cars. If he installs seven systems per day, his total costs are $300. If he installs ei
Margarita [4]

Answer:

D. $100

Explanation:

Given: William install 7 system per day at the cost of $300.

           William install 8 system per day at the total cost of $400.

Remember, If the marginal cost curve is upward-sloping, this means that as output increase, marginal costs will also increase.

Marginal cost is an additional cost incurred in producing additional unit of output.

Now, finding additional payment that eighth customer has to pay.

Change in marginal cost= Cost\ incurred\ in\ installing\ 8\ system - cost\ incurred\ in\ installing\ 7\ system

⇒ Change in marginal cost=  \$400-\$300

∴  Change in marginal cost= \$ 100

Hence, there is an increase in marginal cost by $100 as output increases, therefore, William will install eight sound systems per day only if the eighth customer is willing to pay at least $100.

5 0
3 years ago
For much of the twentieth century, east asia was dominated economically and politically by:________
Nostrana [21]

For much of the twentieth century, east Asia was dominated economically and politically by Japan.

<h3>How to illustrate the information?</h3>

It should be noted that East Asia was developed based on the successful market economy and private investment.

In the 20the century, there were domestic instability as well as revolution.

Therefore, For much of the twentieth century, east asia was dominated economically and politically by Japan. This is quite different nowadays as China is a leading power.

Learn more about Asia on:

brainly.com/question/1370427

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6 0
2 years ago
XYZ pays for 40% of its raw materials purchases in the month of purchase and 60% in the following month. Budgeted cost of materi
kirza4 [7]

Answer:

$265,150

Explanation:

Cost of material purchases in July

= 256,550 × 60/100

= 256,550×0.6

= 153,930

Cost of purchases in August

= 278,050×40/100

= 278,050×0.4

= 111,220

Total cash disbursement

= 111,220+153,930

= $265,150

4 0
3 years ago
One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organization
Deffense [45]

Consumer buying is the day to day purchases people make in their daily lives such as groceries, gas, clothing, services, etc.

Organizational buying involves purchasing goods and services that will be used in the production of the end product that will be sold to consumers.

6 0
3 years ago
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