All categories

3 years ago

The opportunity cost to a consumer who smokes cigarettes is the:

Business

1 answer:

andreyandreev [35.5K]3 years ago

6 0

Answer: d. Products the consumer could have bought instead of cigarettes.

Opportunity cost refers to the loss benefits from the choices a person would have made if he or she had not made a particular choice.

Opportunity cost is also known as alternate cost.

In this question, had the consumer would have spent on other products if he had not bought cigarettes. Hence these products represent the opportunity cost of cigarettes.

You might be interested in

On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1 par, common shares, to b

uranmaximum [27]

Answer and Explanation:

The journal entry is given below:

Stock dividends Dr $60.00

To Common stock $60.00

(Being the issue of stock dividend is recorded)

Here the stock dividend is debited as it reduced the stockholder equity and credited the common stock as it increased the stockholder equity

Also the par per share after the split is $1

8 0

2 years ago

You are given the following information on Parrothead Enterprises: Debt: 9,600 7.1 percent coupon bonds outstanding, with 24 yea

asambeis [7]

Ya know what the gym did you put for the first week in the short drive through it

7 0

3 years ago

What do you need to file your taxes?

Burka [1]

Answer:

w-2, Form 1040, and possibly Schedule (1... etc. )

Explanation:

3 0

2 years ago

The Learning Institute recently conducted a brainstorming session that generated a large number of ideas for adding new products

olasank [31]

Answer:

The correct answer is C. idea screening .

Explanation:

After generating ideas on a specific topic, the next step is to study in detail each idea that generates impact in a process. In the case of this example, the management of the institute must carry out a study of all the ideas received from the employees in order to determine which ones would have the best impact in the creation of products and services, and then they will carry out more in-depth studies to determine which ones they generate more impact than others.

7 0

3 years ago

This information relates to Pickert Real Estate Agency.

nikitadnepr [17]

Answer:

The debit-credit analysis for each transaction is given below.

Oct. 1 Stockholders invested $30,000 in exchange for common stock of the corporation.

No effect (it is purchase of share already issued on stock exchange)

Oct. 2 Hires an administrative assistant at an annual salary of $42,000.

No effect (As hiring is not a transaction)

Oct. 3 Buys office furniture for $4,600, on account.

Debit Furniture Asset $ 4,600

Credit Account Payable $ 4,600

Oct. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time).

Debit Commision Receivable $ 10,800

Credit Commission Income $ 10,800

Oct. 10 Receives cash of $140 as commission for acting as rental agent renting an apartment.

Debit Cash Asset $ 140

Credit Rental Commission Income $ 140

Oct. 27 Pays $700 on account for the office furniture purchased on October 3.

Debit Account Payabe $ 700

Credit Cash $ 700

Oct. 30 Pays the administrative assistant $3,500 in salary for October.

Debit Salary Expense $ 3,500

Credit Cash $ 3,500

7 0

3 years ago