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2 years ago

How would you use the concept of opportunity cost in deciding whether you should go to a movie this weekend?

Business

1 answer:

MariettaO [177]2 years ago

6 0

You could use the concept of opportunity cost to weigh the pros and cons.

<h3>Explanation:</h3>

I don't have anywhere to be this weekend and it would be a really nice opportunity to get together with my friends and take a break from studying.
On the other end, I could use that time to prepare for my first math exam and do homework and get ahead.
Studying would be nice but it is not immediate so I would pick a movie and have a fun time with my friends.

To learn more about it, refer

to brainly.com/question/26386481

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Arthur sells $100 worth of cotton to Bob. Bob turns the cotton into cloth, which he sells to Camille for $300. Camille uses the

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Answer:

$1200

Explanation:

Gross Domestic Product (GDP) is the total market value of all of the final goods and services produced in a country over a particular period of time.

The contribution to GDP can be determined by adding the value created by each of the economic agents involved in the creation of the final goods and services

Arthur = 100 = 100

Bob = 300 - 100 = 200

Camille = 700 -300 = 400

Donita = 1200 - 700 = 500

Total Value 100 +200 +400 +500 = $1200.

You will observe that it is the same as the value of the final good i.e dress. In the production process, other goods involved are referred as intermediate goods

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4 years ago

In the long run the prices charged by a firm in monopolistic competition will be

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Answer: The correct answer is "d. equal to average cost, including the opportunity cost of capital.".

Explanation: In the long run the prices charged by a firm in monopolistic competition will be equal to average cost, including the opportunity cost of capital.

In long-term monopolistic competition, the demand curve will be tangent to the average long-term cost and the price set at this level. The benefits will be equal to zero and therefore there will be no entry or exit of companies.

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3 years ago

Say that the average worker in Canada has productivity of $33 per hour while the average worker in the United Kingdom has produc

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Answer:

The answer is: Canadian workers will still have a higher productivity, it will be $0.40 per hour higher.

Explanation:

We can elaborate the following productivity table:

Year Canadian productivity British productivity

0 $33 per hour $29 per hour

1 $33.33 per hour $29.87 per hour

2 $33.66 per hour $30.77 per hour

3 $34 per hour $31.69 per hour

4 $34.34 per hour $32.64 per hour

5 $34.68 per hour $33.62 per hour

6 $35.03 per hour $34.63 per hour

At the end of year 6, Canadian workers' productivity will be $35.03 and British workers' productivity will be $34.63 per hour (Canadian workers will be $0.40 more productive).

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3 years ago

Bob's Clothing Shop's inventory at cost was $30,000 on January 1. Its retail value is $42,000. During the year, Bob's Clothing S

DENIUS [597]

Answer:

Ending Inventory = $55,000

Explanation:

Particular Cost price Retail price

Opening Inventory $30,000 $42,000

Add: Additional Purchases $196,000 $368,000

Cost of Goods Available for Sale $226,000 $410,000

Cost to Retail Ratio: 55 %

Less: Net Sales $310,000

Ending Inventory $55,000 $100,000

Note:

Cost to Retail Ratio = $226,000 / $410,000

Cost to Retail Ratio = 55% (Approx)

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3 years ago

What is a requirement for the creation of an agency relationship?

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4 years ago