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tatiyna
3 years ago
10

Consider the following information regarding a person's decision to go to college college tuition is $20,000 per year, room and

board is $10,000 per year, and books and materials are $2,000 per year. Suppose that instead of going to college this person could have camed $18,000 working in a store. An economist would calculate the cost of going to college O a $20,000 O b. $18,000 O c. 550,000 O d. $32,000. o e. $30,000
Business
1 answer:
Ostrovityanka [42]3 years ago
7 0

Answer:

$50,000

Explanation:

The computation of the cost of going the college is shown below:

= College tuition fees per year + boarding fees per year + books and materials charges per year + earnings while working

= $20,000 + $10,000 + $2,000 + $18,000

= $50,000

For computing the cost of going to the college we simply added the total cost that is mentioned in the question so that the accurate amount could come

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Alabama and Mississippi each have 9 units of labor. They can use their units of labor for the production of chickens and cotton.
Alekssandra [29.7K]

Answer and Explanation:

As it is given that

1. For each unit of labor, Alabama will generate 3 units of chicken.

Thus Alabama can produce a maximum of 27 units of chicken with 9 units of labor.

2. With every unit of labor, Alabama will generate 7 units of cotton.

Thus Alabama can produce a maximum of 63 units of cotton with 9 units of labor.

For each unit of labor,  Mississippi will generate 4 units of chicken.

Therefore Mississippi can produce a maximum of 36 units of chicken with 9 units of labor.

For each unit of labor, Mississippi will produce 6 units of cotton.

While Mississippi can produce up to 54 units of cotton with 9 units of labor.

Alabama could be seen producing more cotton than Mississippi using all the labor while using all the labor Mississippi can produce more chicken than Alabama.

Hence,

For producing chicken, Mississippi has the absolute advantage

For producing cotton,  Alabama has the absolute advantage

Now

Albama's opportunity cost for generating a chicken unit is

= (7 ÷ 3)

= 2.33 units of cotton.

Albama's opportunity cost for generating a cotton unit is

= (3 ÷ 7)

= 0.43 units of chicken.

Mississippi's opportunity cost for generating a chicken unit is

= (6 ÷ 4)

= 1.50 units of cotton.

Mississippi's opportunity cost of generating a cotton unit is

=  (4 ÷ 6)

=  0.67 units of chicken

Therefore

Alabama can produce cotton relatively to Mississippi at a  lower cost of opportunity.

In comparison with Alabama, Mississippi can produce chicken at lower opportunity costs.

Hence, we can conclude that

Mississippi has a competitive advantage for chicken production.

Alabama has a competitive advantage in cotton production.

Mississippi is supposed to grow chicken and Alabama is supposed to make cotton.

6 0
3 years ago
In january 2010 a gallup poll asked a random sample of adults, "in general, are you satisfied or dissatisfied with the way thing
daser333 [38]
<span>This poll talks about the economic progress of the United States where during those times in year 2010 Barack Obama is the president of the country. The poll have given a big difference towards the evaluation on how the economy have a lot of negative effects to citizen of the country that it was before. First is the issue about unemployment many Americans have no jobs, remember that this issue really gives a fall towards economic progress development for it can help generate more potential opportunities specially when it comes to factors that are all in the benefit of people getting employed where the business can gain more with the workforce, second is the health care issues are also one of the factors considered why they are unsatisfied with the economy, the platform and campaigns relating to health issues were not that fully effective, lastly the federal budget deficit in which really imparts a major negative effect on the economy for this is used for many developmental projects for the government's economic stability.</span>
4 0
3 years ago
Which explains why the price indicated by p2 on the graph is lower than the equilibrium price?
Vsevolod [243]

According to economic principles, as prices fall, quantity demanded goes up.

What is equilibrium price?

The market price at which the amount of goods supplied and the amount of goods sought are equal is referred to as the "equilibrium price."

The demand and supply model's reasoning is straightforward. For instance, when sugar prices are lower, the market's demand is automatically increased.

Excess demand is depicted in the graph. The price is less than the equilibrium price, as shown by p2 on the graph, since as the price decreases, the quantity demanded increases.

As a result, option (a) As prices fall, quantity demanded goes up is correct.

Learn more about on equilibrium price, here:  

brainly.com/question/13458865

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6 0
2 years ago
5. Suppose Hillard Manufacturing sold an issue of bonds with a 12-year maturity, a $1,000 par value, a 10% coupon rate, and semi
balandron [24]

Answer:

Price of bonds = $1,389.73  

Explanation:

<em>The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV). </em>

Value of Bond = PV of interest + PV of RV

The value of bond for Hillard  can be worked out as follows:

Step 1  

<em>Calculate the PV of interest payments </em>

Semi annual interest payment

= 10% × 1,000 × 1/2 =50

PV of interest payment

A ×(1- (1+r)^(-n))/r

r- semi-annual yield = 5%/2 = 2.5%

n- 10× 2 = 20.

Note that the bonds now have 10 years to maturity because it was issued 2 years ago

PV on interest = 50 × (1-(1.025^(-20)/0.0425 = 779.45

Step 2

<em>PV of redemption Value </em>

PV = $1,000 × (1.025)^(-20) =   610.27

Step 3

<em>Price of bond </em>

=  779.45+  610.27 =  $1,389.73

Price of bonds = $1,389.73  

4 0
3 years ago
Which element of the marketing mix is most relevant to the activity "creating value"? select one:
defon
The answer is "price".

The marketing mix alludes to the arrangement of activities, or strategies, that an organization uses to advance its image or item in the market.There are 4 p's included in the marketing mix, that are; promotion (communicating value), product (creating value), price (capturing value), and place (delivering value).
7 0
3 years ago
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