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4 years ago

Which best describes an opportunity cost?

Business

2 answers:

12345 [234]4 years ago

4 0

Opportunity cost is giving up an opportunity to do something else when making an economic decision.

olya-2409 [2.1K]4 years ago

3 0

Opportunity cost is best described as below:

Giving up an opportunity to do something else when making an economic decision.

In simple words, when there are two or more options in front of a person while making a decision, and he takes one of them by keeping something in mind and leave the other ones, then he is losing the opportunity of having the other alternative. This losing cost is actually the Opportunity Cost. It is basically the loss of one option while choosing the other one.

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Suppose that you are an economic-policy advisor. Environmental groups are pressuring you to implement the highest-possible carbo

liraira [26]

Answer: a tax equal to the external cost.

Explanation:

The most efficient taxes are those that will be equal to the external cost of production that a company is imposing on the environment. This means in effect that a company is paying for the pollution it is inflicting on the environment.

Companies polluting less would pay less and those polluting more would pay more. This is the logic of a tax equal to the external cost.

3 0

3 years ago

A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by upper c equals 0.

Fantom [35]

Answer:

The cost per month is increasing at a rate $365.

Explanation:

Differentiation Formula

$\frac{d}{dx}(x^n)= nx^{n-1}$
$\frac{d}{dx}(a)=0$ [ where a is a constant]
$\frac{d}{dx}(ax^n)=a \frac{d}{dx}(x^n)= anx^{n-1}$

Given that,

A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by

$c=0.2x^2+10,000$ .

Again given that,

the rate of changing production is 13 unit per month

i.e $\frac{dx}{dt}=13$

To find the cost per month, we need to find out the value $\frac{dc}{dt}$ when production is changing at the rate 13 units per month and the production is 70 units.

$c=0.2x^2+10,000$

Differentiating with respect to t

$\frac{d}{dt}(c)=\frac{d}{dt}(0.2x^2)+\frac{d}{dx}(10,000)$

$\Rightarrow \frac{dc}{dt}=0.2\frac{d}{dt}(x^2)+\frac{d}{dx}(10,000)$

$\Rightarrow \frac{dc}{dt}=0.2\times 2x^{2-1}\frac{dx}{dt}+0$

$\Rightarrow \frac{dc}{dt}=0.4x\frac{dx}{dt}$

Plugging $\frac{dx}{dt}=13$

$\Rightarrow \frac{dc}{dt}=0.4x\times 13$

$\Rightarrow \frac{dc}{dt}=5.2x$

$\frac{dc}{dt}|_{x=70}=5.2\times 70$ [ plugging x=70]

=364

[ The unit of c is not given. Assume that the unit of c is dollar.]

The cost per month is increasing at a rate $365.

4 0

3 years ago

Henry Spring, a chef at a major restaurant in San Francisco, wants to start his own restaurant. He surveys the market, finds a s

just olya [345]

Answer:

A)Capital

Explanation:

Cpatial is one of the factors of production. Capital includes all man made resocurces used in the production process. They include money, equipment and resocurces.

Other factors of production mentioned in the question are :

Henry- the entrepreneur

Building- land

I hope my answer helps you

7 0

3 years ago

How to make a promotional mix for a company

kondor19780726 [428]

Establishing the promotional mix that's right for your company involves seven steps:
Determine Your Target Market. ...

Determine Your Objectives. ...

Design Your Message. ...

Select Your Promotional Channels. ...

Determine Your Budget. ...

Determine Your Promotional Mix. ...

Measure the Results of the implemented program and Adjust as needed.

3 0

4 years ago

Your company will generate 73,000 in annual revenue each year for the next eight years from a new information database. If the a

lys-0071 [83]

$73,000x8.5%=$6,205 for one year
I believe you are looking for either this number or $6,205x8?
$49,640 for 8 years

4 0

3 years ago