The best and most correct answer among the choices provided by the question is the fourth choice "<span>saving money for future needs"</span><span>
</span>Opportunity cost<span> refers to a benefit that a person could have received, but gave up, to take another course of action. Stated differently, an </span>opportunity cost<span> represents an alternative given up when a decision is made.</span>
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Answer:
Rent $400 ⇒ housing expenses
Electric bill $60 ⇒ housing expenses
Car payment $250 ⇒ transportation expenses
Car insurance $60 ⇒ transportation expenses
Backpack $10 ⇒ educational expenses
Explanation:
In economics, basic necessities are the products and services that you need for your day-to-day living, and they include food, housing expenses, transportation, child care, health care, taxes (both payroll and income), clothing and educational expenses (including school supplies).
Based on the fact that the average cost of interplanetary space to fly a 100-seat spaceship between Mars and Amsterdam is $100 million, then the $100 million is not marginal.
<h3>Which cost is marginal?</h3>
Marginal cost refers to the additional cost that we incur for wanting an additional unit of a product or service. This means that it is not an average score because it is concerned with one additional unit while the average is based on all units.
The $100 million for going into space between Mars and Amsterdam is an average cost. It is therefore not a marginal cost and cannot be grouped as one.
The first part of the question is:
Identify whether the scenario is an example of a marginal cost, marginal benefit, or neither.
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Answer:
(a) $17,900
(b) $800
Explanation:
Given that,
Current assets = $4,900
Net fixed assets = $27,300
Current liabilities = $4,100
Long-term debt = $10,200
(a) Total assets = Current assets + Net fixed assets
= $4,900 + $27,300
= $32,200
Total liabilities = Current liabilities + Long-term debt
= $4,100 + $10,200
= $14,300
value of the shareholders’ equity:
= Total assets - Total liabilities
= $32,200 - $14,300
= $17,900
(b) Net working capital:
= Current assets - Current liabilities
= $4,900 - $4,100
= $800