What percentage of your income should you save

If you receive a ticket to a concert at no charge, what, if anything, is your opportunity cost of attending the concert?

spin [16.1K]

Answer:

The opportunity cost of attending the concert=$0

Explanation:

An opportunity cost is the total monetary loss that one has when they choose a given option. It can also be defined as the gain that one misses when the individual or business chooses one alternative over the other. Opportunity costs are not heavily considered in financial reports, however individuals or businesses who have the opportunity to choose from many alternatives at the same time need to consider the opportunity cost to make a more valuable decision in the long-run. Opportunity costs helps individuals and businesses to make better decisions on the options they have at their disposal.

The opportunity cost can be Determined using the following expression;

OC=FO-CO

where;

OC=opportunity cost

FO=return on best forgone option

CO=return on chosen option

Since in our case, the forgone option was not attending the concert, the cost would be=0

Also since the chosen option was the ticket at no charge, the cost would be=0

In our case;

OC=unknown

FO=0

CO=0

replacing;

OC=0-0=0

The opportunity cost of attending the concert=$0

7 0

3 years ago

After several profitable years running her business, Ingrid decided to acquire the assets of a small competing business. On May

umka2103 [35]

Answer:

question

1. how much amortization expense on the goodwill can Ingrid deduct in year 1, year 2, year 3?

2. In lieu of the original facts, assume that Ingrid purchase only a phone list with a useful life of 5 years for $16,500.

How much amortization expense on the phone list can Ingrid deduct in year 1, year 2 and year 3?

Explanation:

The explanation is shown in the file attached. Thank you i hope it helps

Download docx

3 0

3 years ago

Swiss Furniture Company manufactures bookshelves and uses an activityminusbased costing system. The following information is pro

telo118 [61]

Answer:

$12.40

Explanation:

Activity Estimated Indirect Allocation Base Estimated Q. of

Activity Costs Allocation Base

Materials handling $7,700 Number of parts 7,350 parts

Assembling $10,500 Number of parts 7,350 parts

Packaging $2,410 Number of units 1,470 bookshelves

The direct materials cost per bookshelf is $39. What is the cost of materials handling and assembling per bookshelf?

materials handling cost per part = $7,700 / 7,350 parts = $1.05

assembling cost per part = $10,500 / 7,350 parts = $1.43

total cost per part = $2.48

cost per bookshelf = 5 x $2.48 = $12.40

6 0

3 years ago

___ is any direct to a consumer or business recipient that is designed to generate a response in the form of an order, a request

Nady [450]

Answer: D.) Direct marketing (happy to help)

Explanation:

3 0

3 years ago

Read 2 more answers

Craig wants to get his old car repaired, but he doesn't want to spend much money. he probably will not want to go to the most ex

trapecia [35]

The fact that Craig wants to get his old car repaired, but he doesn't want to spend much money means that he probably will not want to go to the most expensive repair service, which is from a car dealer.
The car dealer sells new or used cars at the retail level, based on a dealership contract with an automaker.

6 0

3 years ago

Read 2 more answers