1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dexar [7]
3 years ago
6

Max has two options this weekend. He could work at his job and earn $7 per hour for three hours, or he could go to an exhibit at

the art museum for that three hours. A ticket for the event costs $30.What is the opportunity cost of the event? $
Business
1 answer:
densk [106]3 years ago
8 0

Answer:

The opportunity cost of the event $21.

Explanation:

Opportunity cost is the loss of alternative when someone chooses an alternative.

Number of Hours = 3 hours

Earning per hour = $7

Total opportunity cost = $7 x 3

Total opportunity cost = $21

As Max has to bear the loss of $21 earning when he goes to the event in the museum. So this is his opportunity cost.

You might be interested in
"The Internet of everything (IOE) has created a lot of excitement in the business community. What evidence could you present to
joja [24]

Answer:

Yes, the Internet of everything (IOE) has created a lot of excitement in the business community.

Explanation:

IOT has come to revolutionalized our life in many ramifications. It is regarded as the best and fastest means of connecting to the people as well as machines around world. It effect ranging from Aviation, Education, Health Care Services, and so on. Business operation have witnessed significant improvement in the sense that things get done over the Internet easily. One buy and sell, services such as consultancy are rendered over the Internet.

Example

The example is Telecom Industry.

It effect could be seen in communication, is those days where there was no internet, mail or letter are delivered taking longer period and sometime may even get loss but with Telecommunications, introduction of e-mail come where letters is being delivered within seconds.

6 0
3 years ago
Grape Corporation purchased a machine in December of the current year. This was the only asset purchased during the current year
Elden [556K]

Answer:

d. In the following year using a half-year convention

Explanation:

Since the mechine will only be in service in January of the following year, The corporation cost recovery should begin in the following year using a half year convention.

6 0
3 years ago
22. At the end of each year for the next 18 years, you receive cash flows of $3700. The initial investment is $25,200 today. Wha
IrinaK [193]

Answer:

29.37%

Explanation:

Rate of return = Average annual income/Average initial investment

Average annual income = $3,700

Average initial investment = (I+s)/2

Average initial investment = (25,200+0)/2

Average initial investment = $12,600

Rate of return = $3,700/$12,600

Rate of return = 0.2936508

Rate of return = 29.37%

6 0
3 years ago
Mark owns his own business and wants to make sure that his employees arrive on time each day and take breaks as specified. He ha
olga2289 [7]

Operant conditioning is used by Mark .

<h3><u>Explanation:</u></h3>

The instrumental conditioning is the other name given for operant conditioning. It can be considered as a method of learning in which  rewards and punishments are used for modification of certain behaviors. This forms a relativity between certain behavior and the consequences of that behavior.

In the example given, Mark has decided to give rewards in order to make his employees to reach office at time. Monthly rewards are given to those employees who did not take breaks and thus he is using the principle of Operant conditioning .

6 0
3 years ago
Assume a large corporation is experiencing the​ principal-agent problem. What could the corporation do to minimize this​ problem
EastWind [94]

Answer:

1) Structure rewards/pay to be based on performance

2)Make them stakeholders/shareholders of the principal

Explanation:

The major principal/agent problem is the agent not acting in the best interest of the principal. Taking the steps above could minimize the problem

7 0
3 years ago
Other questions:
  • A company's product sells at $12 per unit and has a $5 per unit variable cost. The company's total fixed costs are $98,000. The
    7·1 answer
  • Burns Industries currently manufactures and sells 23,000 power saws per month, although it has the capacity to produce 38,000 un
    7·1 answer
  • QS 5-12 Preparing a multi-step income statement LO P4 Save-the-Earth Co. reports the following income statement accounts for the
    9·1 answer
  • AgCo sells corn in a perfectly competitive market. Say the current market price for a bushel of corn is $4.00. If AgCo prices at
    5·1 answer
  • Which contractual standard for product safety and liability says that buyers chose to make purchases and therefore every purchas
    5·1 answer
  • N 2011, brazil had a gdp of $2.3 trillion and a per capita gdp of $11,800. a fifth of the population lived below the poverty lin
    9·1 answer
  • Lenders charge a loan origination fee to A. cover the expenses involved in generating the loan B. guard against charges of usury
    12·1 answer
  • The adjustment to the weighted-average shares for retired shares is the same as for issuing new shares except: A. The shares are
    12·1 answer
  • The bank you own has the following balance sheet: Assets Liabilities Reserves $75 million Deposits $500 million Loans $525 milli
    15·1 answer
  • Information about a property that has a significant bearing on a buyer's decision to purchase that property is referred to as a
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!