C I am pretty sure goodluck
The additional unit of happiness that you receive from a decision is called the utility. Utility<span> is a term used by economists to describe the </span>measurement<span> of "useful-ness" that a consumer obtains from any good. Hope this answers the question. Have a nice day.</span>
Answer: $8,600
Explanation:
Implicit cost is also known as the opportunity cost which means that it is the benefit of the next best alternative that was foregone when the current decision was made.
The implicit cost here is therefore:
The $8,000 that Charles could have been making as a lifeguard.
The interest per year he could have been earning on the $5,000 he used to buy mowing equipment.
The depreciation on the mowing equipment because depreciation is not an explicit cost but an implicit one.
= 8,000 + (2% * 5,000) + (10% * 5,000)
= 8,000 + 100 + 500
= $8,600
When the insured party knows more about his or her circumstances than the insurer, then there is: B. All of these.
<h3>What is an insurance company?</h3>
An insurance company is a business firm that is establish to collect premium from all of the insured for losses which may or may not occur, so they can easily use this cash to compensate or indemnify for losses incurred by those having high risk.
In Economics, when the insured party knows more about his or her circumstances than the insurer, then there is:
Read more on insurance here: brainly.com/question/16789837
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Answer:
1 hour working on problems, 3 hours reading
Explanation:
the question is not complete:
Bob is a hard-working college freshman. One Tuesday, he decides to work nonstop until he has answered 200 practice problems for his chemistry course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem.
Time Total Problems Answered Marginal gain
8:00 AM 0
9:00 AM 80 80
10:00 AM 140 60
11:00 AM 180 40
Noon 200 20
Since Bob's is able to answer more than 70 questions per hours only during one hour (from 8 to 9 AM), he can benefit more from reading the next 3 hours. Reading would be equivalent to answering 210 questions, while Bob was only able to answer 120 more questions in the following 3 hours.
