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
ale4655 [162]
3 years ago
8

Jack has a ticket to see Bo Bice for which he paid $30 yesterday. He takes an unpaid day off from work to get ready for the conc

ert. When he arrives at the concert, five different people offer him $70 for his ticket. Jack decides to keep his ticket. At the time he makes this decision, his opportunity cost of seeing Bo Bice is:
Business
1 answer:
valentina_108 [34]3 years ago
3 0

Answer:

$70

Explanation:

The opportunity cost is the value in which the advantage is produced from the options available. The best gain is term as the opportunity cost

In the question, it is given that the offered price is $70 and the yesterday price is $30 which was paid which terms as a sunk cost. This cost is not useful for decision making as well as for computing the opportunity cost also

So, only $70 would be considered

You might be interested in
Albert purchased a tract of land for $140,000 in 2016 when he heard that a new highway was going to be constructed through the p
Darina [25.2K]

Answer and Explanation:

Albert cannot claim any loss during 2019.

The sale of the property is necessary to claim the loss of depreciation on any type of movable or immovable property. In the following case, Albert is not selling his property due to which he cannot claim any loss, hence Albert's current year's loss claim will be zero.

8 0
3 years ago
Pfister Corporation has Long-term Assets of $485,000, Current Liabilities of $150,000, Long-term Liabilities of $220,000 and Own
Stels [109]

Answer:

$205,000

Explanation:

Total liabilities=current liabilities+long-term liabilities

total liabilities=$150,000+$220,000

total liabilities=$370,000

total owners'equity plus liabilities=$320,000+$370,000=$690,000

long-term assets+current assets=liabilities+owners'equity

long-term assets=$485,000

current assets are unknown

liabilities+owners'equity=$690,000

let CA represent current assets

$485,000+CA=$690,000

CA=$690,000-$485,000

CA=$205,000

3 0
2 years ago
Suppose that Portugal and Austria both produce beer and cheese. Portugal's opportunity cost of producing a pound of cheese is 3
Maksim231197 [3]

Answer:

Portugal and Austria

Comparative Advantage in the Production of Beer and Cheese:

1a. Portugal

b. Austria

2. a. 3 barrels and

b. 0.09 or 1/11 pounds

3.  A. 4 barrels of beer per pound of cheese

Explanation:

a) Data and Calculations:

Portugal's opportunity cost of producing a pound of cheese = 3 barrels of beer

Austria's opportunity cost of producing a pound of cheese = 11 barrels of beer

Price of trade (cheese in terms of beer) = 11/3 = 3.667 = 4

b) Portugal's comparative advantage over the production of cheese is her economy's ability to produce cheese at a lower opportunity cost than Austria.  This comparative advantage gives Portugal the ability to sell cheese at a lower price than Austria and realize a more favorable balance of trade.

7 0
3 years ago
Michael has been saving his money and wants to invest it. After doing some research, he has decided to invest $20,000 into a Cer
MissTica

Since he is planning on an annual inflation rate of 2%., the statement that explains the interest rates relating to the CD is nominal interest rate is 3% while the real interest rate is 1%.

A real interest rate refers to the nominal rate which is adjusted for inflation.

  • We are given that Interest (nominal rate) is 3% and planned Inflation rate = 2%

  • Real interest rate = 1% (Nominal rate - inflation rate)

Hence, the statement that explains the interest rates relating to the CD is nominal interest rate is 3% while the real interest rate is 1%.

Therefore, the Option B is correct.

Read more about Real interest rate

<em>brainly.com/question/25816355</em>

3 0
2 years ago
Read 2 more answers
A bond that pays interest annually yielded 7.37 percent last year. The inflation rate for the same period was 2.4 percent. What
bazaltina [42]

Answer:

Real interest rate= 0.0497= 4.97%

Explanation:

Giving the following information:

A bond that pays interest annually yielded 7.37 percent last year. The inflation rate for the same period was 2.4 percent.

<u>The effect of the inflation rate is counterproductive to the interest rate. It diminishes purchasing power.</u>

Real interest rate= nominal interest rate - inflation rate

Real interest rate= 0.0737 - 0.024

Real interest rate= 0.0497= 4.97%

5 0
3 years ago
Other questions:
  • Define business inventories and explain how they are counted in GDP.
    8·1 answer
  • Consider this scenario: a company that buys a sizeable amount of equipment for its manufacturing process needs to accurately rep
    13·1 answer
  • If a business hires employees to perform different, highly specialized jobs,
    8·1 answer
  • Begin by reviewing the labels for the change in​ stockholders' equity and then enter the amounts for each situation.
    13·1 answer
  • g the three types of unemployment are A. ​voluntary, structural, and cyclical unemployment. B. ​frictional, structural, and cycl
    8·1 answer
  • 1
    9·2 answers
  • The liquidity preference model: a uses the demand and supply of money to determine the level of potential output. b uses the dem
    5·1 answer
  • the executives of great lakes medical center are writing a statement that explains their organization’s core purpose. great lake
    15·1 answer
  • Whenever price is ______ average variable costs but is ______ average total costs, the firm can pay part, but not all, its fixed
    13·1 answer
  • A __________________ often results in an outflow of financial capital leaving the domestic economy and being invested in the glo
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!