Yes, It is possible for the opportunity cost of an input to be very low or zero if there is no alternative use for it. It means that the statement is true.
The opportunity cost of an input is zero if it has no alternative use. This is so because the cost of alternatives refers to the value of the next best option. Since there isn't an alternative available in the scenario described, the opportunity cost is zero.
The opportunity cost of a certain activity option is defined as the loss of value or benefit that would result from engaging in that activity (the cost) as opposed to engaging in an alternative activity that offers a higher return in value or benefit in microeconomic theory.
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Answer: Hernando de Soto
Explanation:
It was the first European to discover and sail the Mississippi River. Soto was a Spanish conquistador who accompanied some of the earliest European expeditions in the New World, the destroyer of the Inca Empire by Francis Pizarro. According to available information, Soto and his expedition discovered the Mississippi River in May 1541. There were about 400 people in his expedition, and the river was discovered during an escape from the native tribes.
Answer:
Geraldine (Jerrie) Mock was the first woman to fly solo around the world. Her 1964 trip lasted 29 days and earned her the Louis Bleriot medal from the Federation Aeronautique Internationale. Emily Howell Warner was hired by Frontier Airlines in 1973, becoming the first female pilot at any U.S. commercial airline.
Answer:
The correct answer is Inspection of products produced to ensure that the products meets customer specifications.
Explanation:
To be considered as such, a value-added activity must meet all three of the following criteria:
a) The customer is willing to pay for this activity to be done
b) The action must be done right the very first time
c) The activity transforms somehow the product or service
The correct answer meets the three criteria, since the user is willing to pay to make sure that the product meets his standards, it is done right the first time and transforms the product, since it adds a type of quality control and certification.
Virtually anything that has a temperature gives off radiant energy. Some examples of radiant energy include:
The heat emitted from a campfire
Emission of heat from a hot sidewalk
X-rays give off radiant energy
Microwaves utilize radiant energy
Space heaters produce radiant energy
Heat created by the body can be radiant energy
