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
Why is Attila the Hun a controversial historical figure
m_a_m_a [10]
Historians believe he is a myth rather than a real histroracal person

3 0
3 years ago
Read 2 more answers
In what did the form of goverment change around the time of julius cesar
RideAnS [48]
They changed from a "congress" like government to one that is "emperor"

hope this helps
8 0
3 years ago
What time did the Boston masscre happen
Daniel [21]

Answer:

March 5 1770

Explanation:

After an argument in Boston, 7 British soldiers fire at citizens leaving 5 dead. Samuel Adams and member of the Sons of Liberty called the event a "Massacre" to gain support from the colonists to rise against Britain.

7 0
3 years ago
An institution of private learning is often said to be a(n):
Alina [70]
Disgrace is the answer for this
3 0
3 years ago
Read 2 more answers
5 By 1980, the American economy was beginning to show a pattern of?:
Kryger [21]
I think that the answer is a massive reinvestment in capital industry.
7 0
3 years ago
Other questions:
  • Which groups were opposing the British and their policies in North America and why?
    15·1 answer
  • Many countries of western europe are part of
    5·1 answer
  • Identify a feature of each religion.
    7·2 answers
  • The beginning of fascism is
    15·2 answers
  • Why do you think the U.S government wanted to remove Soviet missiles form Cuba?
    5·2 answers
  • Since about 1920, how has government spending compared with government revenues?
    12·1 answer
  • Which was an effect of the XYZ Affair?
    11·1 answer
  • Which two areas of the united states were bought from other countries?
    9·1 answer
  • How did the priorities of President Johnson and the radical Republicans differ
    13·1 answer
  • Someone help me it’s timed!!!
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!