1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
just olya [345]
3 years ago
8

What is the opportunity cost in this scenario? Mikael has saved $4,000 for his trip to Brazil. He has calculated that his total

transportation expenses will be $1,000. The hotel will cost him another $1,500. He will spend about $500 on food. He plans on spending the remaining $1,000 for sightseeing and buying souvenirs. While booking his plane ticket, he realizes that the price has gone up. His total transportation expenses will go up by $200. He realizes that he cannot cancel his hotel reservation. What is the opportunity cost in this scenario? Mikael has saved $4,000 for his trip to Brazil. He has calculated that his total transportation expenses will be $1,000. The hotel will cost him another $1,500. He will spend about $500 on food. He plans on spending the remaining $1,000 for sightseeing and buying souvenirs. While booking his plane ticket, he realizes that the price has gone up. His total transportation expenses will go up by $200. He realizes that he cannot cancel his hotel reservation. He also doesn’t want to go cheap on food. Finally, he decides to give up visiting the popular Ouro Preto during his stay in Brazil.He also doesn’t want to go cheap on food. Finally, he decides to give up visiting the popular Ouro Preto during his stay in Brazil.
History
3 answers:
Novosadov [1.4K]3 years ago
8 1
The opportunity cost in this scenario is Mikael's decision to forgo seeing Ouro Preto during his stay in Brazil.

Opportunity cost refers to the decision making process people use in terms of how they spend their time, resources, or money. This term refers to the loss that a person suffers by picking a certain option. In this case, Mikael does not want to cut his food budget. Instead, he picks to skip visiting Ouro Preto. So this represents how Mikael is losing out on seeing this site in order to eat the foods he wants while on vacation.
andre [41]3 years ago
7 1
<h3>Answer:</h3><h2>The decision to give up visiting popular Ouro Preto.</h2><h3>Explanation:</h3>

Opportunity cost is the profit lost when one choice is chosen over different. The idea is valuable only as a suggestion to consider all logical choices before making a judgment.  If economists regard to the “opportunity cost” of a support, they indicate the importance of the next-highest-valued alternative use of that support.

chocopie222 years ago
0 0

the opportunity cost is sightseeing

You might be interested in
Which is the BEST example of a "Robber baron" using his wealth in a "philanthropic" manner?
zepelin [54]

Answer: B) Cornelius Vanderbilt and the $1 million endowment he gave to Vanderbilt University.

"Robber barons" were powerful businessmen of the 19th-century United States who made their fortunes through dubious practices. Some of these morally questionable strategies are monopolies, the formation of trusts, exploitation of workers, etc. Cornelius Vanderbilt is an example of this type of industrialist. Moreover, a donation to Vanderbilt University is likely to be seen by most people as a "philanthropic" or charitable act.

7 0
3 years ago
Read 2 more answers
Today, the highest-ranking member of the president’s Cabinet is the __________. A. secretary of state B. vice president C. White
julsineya [31]

Answer:

Vice President

Explanation: Pursuant to (Constitution, Art. II, Sec. I)

7 0
3 years ago
Read 2 more answers
How much do consumers save at the produce section at the grocery store because of immigration?
cestrela7 [59]

Answer:

Explanation:

While immigrants accounted for 17 percent of all civilian employed workers in the United States between 2014-18, they played an outsized role in food production, making up 22 percent of workers in the U.S. food supply chain.

5 0
3 years ago
A sentence using post-industrial
Mila [183]
Her company experienced growth during the post-industrial times and she was able to reap the benefits of this. 
The definition of a post-industrial society is when the stage of society's development when the service sector generates more wealth than the manufacturing sector of the economy.
3 0
3 years ago
what is the golden mean between lying and total honesty? Why might the golden mean differ from one situation to another? Give ex
Katarina [22]

Answer:

C

Explanation:

have a good day

8 0
2 years ago
Other questions:
  • Which event is known as the start of the french revolution when rioters stormed the bastille fortress to steal weapons?
    15·2 answers
  • The ________ is the name that historians gave to the period in europe between the defeat of the last western roman emperor in 47
    13·1 answer
  • how did containment lead to the united states becoming involved in the conflict between north and South Korea (the Korean War) h
    6·1 answer
  • How do I solve this?
    9·1 answer
  • Bible trivia how many times did peter see a sheet of unclean animals
    11·2 answers
  • How did immigrants attempt to adapt to their new lives in America?
    10·1 answer
  • Using the passage, which city did the mongols sack in 1258 which led to the end of the abbasid dynasty?
    14·1 answer
  • Where did FDR put the blame for causing the Great Depression?
    7·1 answer
  • WHAT WAS HOOVER'S VIEWS ON GOVERNMENT?
    11·1 answer
  • ILL GIVE U BRAINLYIST
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!