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denpristay [2]
3 years ago
11

Here are three things you could do if you do not attend your neighbor's barbecue: watch television with some friends (you value

this at $17), read a good novel (you value this at $14), or go in to work (you could earn $16 during the barbecue). The opportunity cost of going to your neighbor's barbecue is
a. $16, because this is the only alternative of the three where you actually receive a monetary payment.
b. $14, because this is the lowest valued alternative forfeited.
c. $17, because this is the highest valued alternative forfeited.
d. $47, because this is the total dollar sum of the alternatives forfeited.
Business
1 answer:
Colt1911 [192]3 years ago
7 0

Answer: Option (c) is correct.

Explanation:

Given that,

Alternatives for a person if he do not attend his neighbor's barbecue:

(1) Watch television with some friends = he value this at $17

(2) Read a good novel = he value this at $14

(3) Go in to work = he could earn $16 during the barbecue

Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.

If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.

Therefore, the opportunity cost of going to his neighbor's barbecue is the enjoyment he get from watching television with some friends because this is the highest valued alternative forfeited.

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If the federal fund's rates were above the targeted rate, the Fed would need to move it towards the targeted rate. To move the interest rate towards the targeted rate, the government would need to increase the money supply. This can be done by buying bonds. When the Fed buys bonds they pay for it, this causes the money supply to increase. As the supply curve shifts to the right, the interest rate will fall down.

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In reviewing the firms whose stocks comprise the Dow Jones Industrial Average, we discover: a) There is an even mix between big
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A _____ is subsidiary to the work-in-process account and is the primary document for accumulating all costs related to a particu
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Answer:

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Explanation:

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8 0
3 years ago
Accrued Revenues are a/an
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2 years ago
A few years ago, Michael purchased a home for $380,000. Today the home is worth $336,000. His remaining mortgage balance is $142
Vaselesa [24]

Answer:

The maximum amount he can borrow is <u>$126,800</u>.

Explanation:

Given:

Michael purchased a home for $380,000.

Market value of home = $336,000.

Current mortgage balance = $142,000.

Rate of borrowing at the market value = 80%.

Now, to find the maximum of amount Michael can borrow.

So, we find first the maximum mortgage amount:

<u><em>Maximum mortgage amount</em></u><u> </u><u><em>= 80% of market value.</em></u>

                                               =\frac{80}{100}\times 336,000

                                               =0.80\times 336,000

                                               =\$268,800.

<em>As, he still owes $142,000 mortgage in his home.</em>

Now, to get the maximum amount he can borrow we use formula:

<em><u>Maximum amount he can borrow = Maximum mortgage amount - Current mortgage balance.</u></em>

Maximum amount he can borrow =\$268,800-\$142,000

Maximum amount he can borrow =\$126,800.

Therefore, the maximum amount he can borrow is $126,800.

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