Answer:
Missing out on the benefits I get from working out using exercise equipment in my garage.
Explanation:
When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice. The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen." Since Choice B is the next best choice to hiking, missing out on the benefits of working out will be my opportunity cost.
Answer:
$428,000
Explanation:
The only movement that impact the total assets it's:
Kirk Corporation acquired equipment costing $3,000, promising to pay cash for it in 60 days.
Due to the equipment was finance by the supplier by 60 days it has a positive impact on assets and liabilities.
The others transactions:
- Kirk Corporation purchased $1,750 of supplies for cash, it has no impact because the supplies was paid with cash, so the impact on assets is zero.
- The land had cost $7,500 and it was sold for $7,500 cash. The land it's a long term assets that was sold for cash, so it was converted to current assets in money.
- Kirk Corporation signed an agreement, the impact it's in the next month, so it has no impact the current month analized.
Answer:
The marginal propensity to save is 0.4
Explanation:
The marginal propensity to save is 1 - marginal propensity to consume.
The marginal propensity to consume is the proportion of an increase in income that the consumers will spend from this increased income and the marginal propensity to save is the proportion of the increase in income that will be saved.
The marginal propensity to consume (MPC) = Change in consumption / change in income
The MPC = (2100 - 1500) / (3000 - 2000) = 0.6
Thus, the marginal propensity to save is 1 - 0.6 = 0.4
Price elasticity of demand measures how changes in price affect the quantity of product demanded. A good or service's price elasticity of demand is calculated by dividing percentage change in the amount sought by percentage change in the price.
The ratio of the percentage change in quantity supplied to the percentage change in price is price elasticity of supply. A good or service's price elasticity of demand is calculated by dividing percentage change in amount sought by the percentage change in price.
The ratio of percentage change in quantity supplied to percentage change in price is price elasticity of supply.
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