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mestny [16]
4 years ago
10

For each of the following, describe the opportunity cost when you decide to do each activity.

Business
1 answer:
Lina20 [59]4 years ago
5 0

Answer:

The opportunity cost of going to the beach is lost time to study for the exam

The opportunity cost of going to college is the lost earnings from getting a paying job after high school

The opportunity cost of eating breakfast is arriving late to school

The opportunity cost of going to the movies is not completing your portion of the group project

The opportunity cost of going to a party at a friend's house on a school night is the inability to wake up early the next morning

Explanation:

An opportunity cost is the lost benefit attached to choosing one option over  another. The scenarios given require the consequences which occur as a result of not choosing one option of the two alternatives presented. In each of the given cases, the foregone benefit varies depending on the option selected.

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matrenka [14]

<span> The correct answer follows; the cross price elasticity of demand for iceberg lettuce with respect to romain lettuce is positive and the cross price elasticity of demand for iceberg lettuce with respect to tomatoes is negative. Cross price elasticity is being defined as a demand of which measures the quantity demand responsiveness in regards of a good in which changes for another good. </span>

8 0
3 years ago
Matthew needed money for some unexpected expenses, so he borrowed $2,587.09 from a friend and agreed to repay the loan in three
Snowcat [4.5K]

Answer:

The agreement is offering an implied interest rate of 10.16%.

Explanation:

Matthew borrowed $2,587.09 from his friend, but he will return $2,850, as 950 x 3 = 2,850.

Therefore, there is an excedent of $262.91, which constitutes an implied interest on the payment of the loan.

As 2,587.09 is the 100% of the loan, we have to know the percent that 262.91 represents in order to know the interest rate. We can know it by using a crossed multiplication:

2,587.09 = 100

262.91 = X

(262.91 x 100) / 2,587.09 = X

26,291 / 2,587.09 = X

10.16 = X

Therefore, the implied interest rate in this loan is of 10.16%.

5 0
3 years ago
Compute the cost of 1,000 gallons of each flavor of ice cream using the department allocation rates computed in requirement (b)
nirvana33 [79]

Answer:

As you did not include the departmental allocation rate calculated or the question relating to it, I shall provide an allocation rate and you can relate this with your assignment.

Assume the allocation rate is $3.00

Labor, raw materials and overhead cost allocation hours are given in terms of 1,000 gallons already.

Cost of Strawberry:

= Direct labor + Raw materials + Overhead cost

= 766 + 816 + (60 hours * $3.00 allocation)

= 766 + 816 + 180

= $‭1,762‬

Cost of Vanilla:

= 841 + 516 + (70 * 3)

= 841 + 516 + 210

= $1,567

Cost of Chocolate:

= 1,141 + 616 + (100 * 3)

= 1,141 + 616 + 300

= $2,057

3 0
3 years ago
Whar is the best way to limit the grownth of bacteria in food
aniked [119]

Answer:

Keep hot foods hot and cold foods cold

Explanation:

Bacteria multiply fastest within the "danger zone" which is the temeperature range of which food is basically "uncooked" or usually room temperature. Cooking foods at high temperstures, keeping hot foods hot, will eliminate bacteria due to heat.

8 0
3 years ago
Imagine that two goods are available to you: apples (X) and pears (Y). You like apples half as much as pears. If your fruit budg
goldenfox [79]

Answer:

the value of the MktRS (market rate of substitution) is 0

Explanation:

The computation of the market rate of substitution is shown below:

Since it is mentioned that

You like apples half as pears

So the equation would be

X = 1 ÷ 2 Y

X ÷ Y = 1 ÷ 2

Now the market rate of substitution of the price is

= $2 ÷ $4

= 1 ÷ 2

So,

= 1 ÷ 2 - 1 ÷ 2

= 0

Hence, the value of the MktRS (market rate of substitution) is 0

The same is to be considered

3 0
3 years ago
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