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Westkost [7]
3 years ago
9

Suppose that you prefer reading a book you already own to watching TV and that you prefer watching TV to listening to music. If

these are your only three choices, what is the opportunity cost of reading?
a. watching TV and listening to music
b. watching TV
c. listening to music
d. sleeping
e. the price of the book
Business
1 answer:
Irina18 [472]3 years ago
5 0

Answer:

B. Watching TV

Explanation:

Opportunity Cost is the cost of <u>next best alternative</u> forgone while choosing an alternative.

Eg: If I can consume apples & oranges, I like apples more than oranges. The opportunity cost of apples consumption is the next best option i.e oranges forgone.

As per given preferences : Book Reading > Watching TV > Listening Music

( '>' refers to preferred over)

The opportunity cost of Book reading is the next best option sacrifised i.e Watching TV.

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The period which <em>Keynes argued</em> that the government should not balance its budget but instead have budget DEFICITS was during:

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According to the given question, we are asked to show the period which <em>Keynes argued</em> that the government should not balance its budget but instead have budget DEFICITS.

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Therefore, the correct answer is option D

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4 0
2 years ago
Ersatz Beneficial Insurance wants to estimate the cost of damage to cars due to accidents. The standard deviation of the cost is
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Answer:

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3 years ago
Transmissions are delivered to the fabrication line five at a time. It takes two hours for transmissions to be delivered. Approx
Leokris [45]

Answer:

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7 0
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