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
VARVARA [1.3K]
3 years ago
7

I am trying to understand the Opportunity cost. Can anyone help me please? I can't seem to get Economics, I really need help. Yo

u work as an assistant coach on the university swim team and earn $15 per hour. One day, you decide to skip the hour-long practice and, instead, go to the county fair, which has an admission fee of $9.
Business
1 answer:
sesenic [268]3 years ago
8 0
<span>Basically "Opportunity cost" is what you're going to lose (or have a potential to lose) if you chose a different action than what you're presented with. In the example, you're working for $15 an hour, but if you decide instead to skip a pratrice to go to the fair you're losing out of the $15 an hour you'll be paid and have to pay $9 to go to the fair. All total, you're opportunity costs for that will be $24 (fifteen you would have made plus the nine dollar fee.) This is also assuming, of course, they don't fire/dock you for just skipping work.</span>
You might be interested in
Which sentence best completes the diagram?
Ivanshal [37]

Answer:

C. Prices in the country Increase

Explanation:

Inflation describes the general increase in prices in a country over time. Prices tend to rise with the increase in economic growth. A high economic growth rate implies that prices will increase at a high rate.

The Inflation rate is measured by assessing changes in the prices of products and services representing people's consumption. A rise in the inflation rate indicates a general increase in prices.

6 0
2 years ago
Rock Solid Concrete Company does not offer customers a cash discount for early payment of their accounts receivable. As a result
Alex73 [517]

Answer:

The correct answer is the option D: Time value of money.

Explanation:

To begin with, due to the fact that Rock Solid Concrete Company does not offer customers a cash discount for early payment then it is quite obvious that their customers will try to wait to pay their bills on the last day because in that way they will be able of having that money availabe for any issues or inconveniences that could occur during those first days, therefore that those customers apparently <u>understand the importance of time value of the money because if the pay early they will lose that cash and would not have it for any urgencies</u>.

7 0
2 years ago
Blaser Corporation had $1,075,000 in invested assets, sales of $1,243,000, income from operations amounting to $216,000 and a de
lawyer [7]

Answer:

Rate of return is 20%

Explanation:

Rate of return is the actual return received on a investment. In this question Blaser Corporation invested $1,075,000 in asset and earned a income of $216,000. So the rate of return is as follow

Rate of return = Income received / Investment in Assets = $216,000 / $1,075,000 = 0.200 = 20%

6 0
2 years ago
Read 2 more answers
Finch Company began its operations on March 31 of the current year. Finch Co. has the following projected costs: April May June
sergeinik [125]

Answer:

The cash payments for Finch Company in the month of June is $185,600.

Explanation:

Cash payment : Cash payment is that payment which is deals only in cash or the payment is only paid in cash.

So,

To compute the cash payment for June month, the following things is need to be considered.

1. Manufacturing cost of April and May

All other cost like - insurance cost, property tax is not need to be considered because it is not related to may month.

So,

= 3÷4 of May month + 1÷4 of April month

= 3÷4 × $195,200 + 1÷4 × $156,800

= $146,400 + $39,200

= $185,600

Hence,  The cash payments for Finch Company in the month of June is $185,600.

3 0
2 years ago
The most desirable bundle of rights in time-sharing gives the buyer privileges to rent or sell the interest in the property. the
ratelena [41]

These rights are known as property rights. Property rights allow a person to do what they want with their property, within regulation. These are included in the bundle of rights a time-share buyer has because they are allowed to use, sell, or rent their time-share.

5 0
3 years ago
Other questions:
  • What does it mean when a return is reject for code 0503
    9·1 answer
  • The journal entry to close income summary when there is a net income is (a) debit sales; credit income summary. (b) debit owner'
    6·1 answer
  • A registered representative is notified verbally by the nephew of a client that his uncle has passed away. Which statements are
    5·2 answers
  • Themarketpriceofasecurityis$50.Itsexpectedrateofreturnis14%.Therisk-freerateis6%, and the market risk premium is 8.5%. What will
    11·1 answer
  • A company introduces a new product in the market. The company decides that the only way it could attract customers is to keep th
    12·2 answers
  • Peter was hired as an external consultant to review the streamlining of production processes at a company. In his final report,
    15·1 answer
  • The importance of financial managers to firms with large cash inflows is greater than for firms with smaller cash flows. true fa
    13·1 answer
  • You are a speculator who sells a call option on Swiss francs for a premium of $.06, with an exercise price of $.64. The option w
    14·1 answer
  • Which of these statements is not true when you inactivate tasks (available only in Project Professional) in a project?
    14·1 answer
  • Portraits. Belinda, a famous portrait painter, agreed to paint Harry's portrait for $5,000. She also agreed to paint the portrai
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!