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hoa [83]
3 years ago
11

Joe sold gold coins for $1,000 that he bought a year ago for $1,000. He says, "At least I didn't lose any money on my financial

investment." His economist friend points out that in effect he did lose money because he could have received a 3% percent return on the $1,000 if he had bought a bank certificate of deposit instead of the coins. The economist's analysis in this case incorporates the idea of:
a. opportunity costs
b. marginal benefits that exceed marginal costs
c. imperfect information
d. normative economics
Business
1 answer:
VMariaS [17]3 years ago
6 0

Answer:

The correct answer is a. opportunity costs

Explanation:

The cost of opportunity is the best alternative that you sacrifice when you choose an option.  

It represent the benefits that you misses out on when choosing one alternative over another.  

In this case the best alternative  you misses out, was buy a bank certificate of deposit,  and at the end of the year would have had $1030.

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Which type of shopping is characterized by activities oriented toward a specific, intended purchase or purchases?
IrinaVladis [17]

The type of shopping that is being identified above is acquisitional shopping because this is where consumers have the intention of visiting or going to the store to shop in a way that they would purchase products and acquire for services. It could be seen above as the shopping is characterized because of the consumers will of having to purchase a specific product.

5 0
3 years ago
The increase in total revenue that results from selling one more unit of output is A. marginal revenue. B. average revenue. C. m
egoroff_w [7]

Answer:

(i) Option (A) is correct.

(ii) Option (A) is correct.

Explanation:

(i) Marginal revenue refers to the change in total revenue obtained from the sale of an extra unit of a commodity. It is calculated by differentiating total revenue with respect to output. It is shown as:

Marginal\ revenue=\frac{dTR}{dq}

where,

TR = Total revenue

q = output

(ii) In a perfectly competitive market, price is equal to both average revenue and marginal revenue. Since, firms in a competitive market are not required to reduce the price of their product for selling more number of units. Hence, the average revenue remains the same at all the level of output. That's why average revenue in equal to the price under perfect market conditions.

Therefore, every additional unit of an output is sold at a same price, so the marginal revenue obtained from an extra unit is constant and hence, price is equal to the marginal revenue.

4 0
3 years ago
Oceania buys $100 of wine from escudia and escudia buys $80 of wool from oceania. suppose this is the only trade that these coun
Andre45 [30]
D. none of the above is correct
6 0
3 years ago
Sandy notices a dog tied to a chain behind a fence and recognizes it as belonging to an acquaintance who lives a couple of block
Lubov Fominskaja [6]

Answer:

Sandy is not entitled to any money.

Explanation:

Reasons:

  1. Sandy was unaware of the original offer for a reward.
  2. The dog's owner did not accept Sandy's own offer.
6 0
3 years ago
Franchisers are firms that have their product created, designed, financed, and initially produced in the home country but rely h
pogonyaev

<u>Franchisers are firms that have their product created, designed, financed, and initially produced in the home country but rely heavily on foreign personnel for further production, marketing, and human resources</u>-This Statement is True

Explanation:

<u> A franchiser is a type of  organizational structure where a product is created, designed, financed, and initially produced in the home country, but for the product specific reasons like cost or product perishiability it relies heavily on foreign personnel for further production, marketing, and human resources</u>

<u>Some example of the companies that follow this concept are McDonald's,Coca-Cola.</u>

6 0
3 years ago
Read 2 more answers
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