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Leno4ka [110]
3 years ago
10

In economic terms, what is the term used for the loss of other alternatives when one alternative is choosen

Business
1 answer:
yulyashka [42]3 years ago
7 0
C. opportunity cost is the benefit not received as a result of not selecting the best option
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The Office of Management and Budget ______. Group of answer choices
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Answer Choices:

A. is staffed by accountants, economists,  tax lawyers

B. keeps Congress well informed on international  affairs

C. was created by Article III of the Constitution

D. consents to treaties and  trade agreements negotiated by the President

Answer:

A.

7 0
3 years ago
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An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labour to produce its total output of 640 u
arlik [135]

Answer:

B) $.10.

Explanation:

All the cost used in the production process is called production cost.

Capital cost = Units x Cost per unit = 2 x $10 = $20

Raw Material cost = Units x Cost per unit = 5 x $4 = $20

Labor cost = Units x Cost per unit = 8 x $3 = $24

Total Cost = Capital cost + Raw Material cost + Labor cost

Total Cost = $20 + $20 + $24 = $64

Cost per unit = Total cost /  Number of units = $64 / 640 = $0.10

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3 years ago
The minimum wage in 2008 was $6.55 cents until july 2008 when it was raised to $7.25. if the minimum wage in june was below the
eimsori [14]
<span>The answer in the blank is that employment of low-skilled workers increased in July. This is because the rate of the minimum wage increased by July compared to that of June. So there will be more employment process due to the increase of the salary, because more skilled workers wants to grab the opportunity of the increased salary.</span>
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3 years ago
First,label the following scenarios as to whether they would create a producer or consumer surplus. Then, after you have labeled
Iteru [2.4K]
Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off she found online. She selects and purchases a $35 pair of jeans, pre-discount. 
(Alice's consumer surplus, $5)

<span>Jeff finds some steaks for $16 for which he would have been willing to pay $20. The butcher notices the meat is near the expiration date and gives him an extra 75% off. </span>
(Jeff's consumer surplus, $16)

<span>Nicole has in her possession a hockey puck from the 2010 Winter Olympic Games and sells it on eBay. She will only sell the puck if the winning bid is greater than or equal to $500. After bidding closes, the last bid stands at $500. </span>
(Nicole's producer surplus, $0)

<span>Claire is trying to sell her used calculus textbook online. She asks for $150 or best offer and is willing to sell for anything over $100. She is able to sell it for $125. </span>
(Claire's producer surplus, $25)


<span>Roy is willing to pay $2.50 for a sports drink. He notices the price is $2.79 and chooses not to purchase a sports drink. (Roy's consumer surplus, $0)</span>
8 0
3 years ago
What statement below best defines "exporting pollution"? When a country decreases its exports, resulting in a lower level of dom
tamaranim1 [39]

Answer:

"Exporting pollution" occurs when a country reduces its domestic pollution, but increases imports that cause pollution in other countries.

Explanation:

Exporting pollution is a commercial and environmental process through which the most developed countries send their most polluting companies to produce their goods to underdeveloped countries. These companies, generally industrial, transfer their production of carbon dioxide and other polluting gases to these countries, which receive large employers and economic benefits but in turn accept higher rates of contamination in their territories.

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