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mestny [16]
3 years ago
10

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

Business
1 answer:
Lina20 [59]3 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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Saxon Manufacturing is considering purchasing two machines. Each machine costs $9,000 and will produce cash flows as follows. Sa
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The supply of product X is perfectly inelastic if the price of X increases by _______ and, as a result of the price change, the
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c) 10%; stays the same. 

Explanation:

Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price.

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I hope my answer helps you

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3 years ago
The concept of opportunity cost would no longer be relevant if.
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Explanation
5 0
2 years ago
Read 2 more answers
The difference between the standard cost of a product and its actual cost is called a variance.
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The difference between the standard cost of a product and its actual cost is called a cost variance. Therefore the statement is true.

<h3>What is the objective of variance?</h3>

Changing across all of the pieces of information in a data set, variance is a measurement of distribution. It enables us to estimate how far away a set of factors are from each other.

To describe the variation or difference between the standard cost of a product and its actual cost the use of cost variance is done. It is utilized to estimate the financial performance of any project.

Therefore, the statement is True.

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