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Kay [80]
3 years ago
8

Every society faces trade-offs because we live in a world of scarcity. Suppose a student athlete has the opportunity to earn $20

0,00 next year playing for a minor league baseball team, $900,000 next year playing for a European professional football team, or $0 returning to college for another year The opportunity cost of the student athlete returning to college next year is $______.
Business
1 answer:
grandymaker [24]3 years ago
6 0

Answer:

Opportunity cost 900,000

Explanation:

The opportunity cost is the cost of the best alternative rejected, in order to do the pcurrent porohect.

The student, if picked to return on collegue, the opportunity cost will be the rejected baseball team or the rejected football team.

In this case, given two alternatives:

one for 20,000

and one for 900,000

the opportunity cost will be of 900,000 as is the best alternative

The opportunity cost for return to college will use this cost.

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The greatest amount of satisfaction comes from which utility?
eimsori [14]

The greatest amount of satisfaction comes from good's consumption of utility or say utility maximizer.

<h3>What is the term about?</h3>

A utility maximizer is known to be a person that seeks to get the highest satisfaction or happiness.

Utility is known to be the happiness or benefit consumers gotten from a good's consumption.

Therefore, The greatest amount of satisfaction comes from good's consumption of utility or say utility maximizer

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5 0
2 years ago
In a market economy, decisions about which goods are produced are based
notsponge [240]

Answer:

A what businesses believe will generate the most profits.

Explanation:

In a market economy, the private sector controls the majority of the factors of production. The government or central authority does not interfere with economic activities in this type of economy. The private sector decides on the production and distribution of goods and services.

The private sector participates in economic activities to make profits. Demand and supply forces determine the type and quantities of goods to be produced. Traders will avail to the markets the goods and services that consumers are willing to buy.

5 0
2 years ago
Read 2 more answers
As nations learn to specialize in production, they will trade with other nations when what happens?
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7 0
3 years ago
The Truth-in-Lending Act gives debtors the right to rescind certain transactions for a period of ______ business days from the d
inysia [295]

Answer:

three

Explanation:

The Truth-in-Lending Act (TILA) applies to home loans. It requires lenders to disclose all costs related to a home loan, provides rescission rights for some transactions, and impose restrictions on home equity credits. But the TILA cannot set the interest rates or other fees charged by the lender, it only requires the lender to disclose the complete information, e.g. APR, monthly payments and amount financed.

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3 years ago
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klasskru [66]

Answer:

Units sold exceeds units produced

Explanation:

The net operating income under variable costing system is always higher than absorption costing system when units sold exceeds units produced. As variable cost doesn't include fixed manufacturing overhead unlike absorption costing, when the net operating income under it now exceed that of absorption, it's definitely am increase in sales that's responsible for that.

8 0
3 years ago
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