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Dmitrij [34]
3 years ago
6

True or false?John says to his friend, "This concert is going to cost me $20 when I buy the ticket." His friend corrects him and

says, "actually, this concert will cost you more than $20 since you have to miss work." His friend is referring to the opportunity cost.
Business
1 answer:
Illusion [34]3 years ago
5 0

Answer:

True

Explanation:

Opportunity cost refers to the value of a missed chance as a result of deciding a certain way. It is the forfeited benefit of choosing one option over another. Economists determine the opportunity cost by calculating the value of the next best alternative.

If John buys the ticket, it will cost $20.  Attending the concert will cause him not to do his homework, as he cannot be in two places at the same time. The consequence of him not doing his homework is the opportunity cost. Attending the concert will, therefore, cost him the $20 and the opportunity cost.

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Households receive a total income of $5 million. Of this, $3.5 million are wages received for laborservices, $1 million are rent
kumpel [21]

Answer:

profit = 250,000

Explanation:

Factor Income is derived from the sum of the Factor of Production

Labor, Land, Capital and Enterprise

Income = wages + rent + interest + profit

To get profit, which is the retribution for the entrepreneur we post our know values and solve for p.

5,000,000 = 3,500,000 wages + 1,000,000 rent + 250,000 interest + p

5,000,000 - 3,500,000 - 1,000,000 - 250,000 = p

p = 250,000

3 0
3 years ago
According to​ statistics, a person will devote 33 years to sleeping and watching tv. the number of years sleeping will exceed th
zepelin [54]

Let n represent the number of years watching TV.


Then let sleeping represent as n+19.


Solution for this problem is:

<span>
n+n+19=33</span>

<span>
2n=14</span>

n = 14 divided by 2

<span>n=7

</span>

7 years are spent watching TV while 26 years are spent in sleeping.

 

Other solution:


To figure out how many years you spend sleeping and watching TV, you first need to take the number in total, which is 33, and subtract the number that you will exceed sleeping.33 – 19 = 14. Now that you have the number 14, you can see that 14 divided in 2 = 7. 7 +19 = 26. This leaves you with a remainder of 7 hours watching TV and 26 hours sleeping. 26 is 19 greater than 7. 7 + 26 = 33.

6 0
3 years ago
In process improvement projects, why should we focus our efforts on those processes that consume the most resources (e.g., labor
julia-pushkina [17]

Answer: Because this is where we get the highest returns from.

Explanation:

They are the force behind production and efficiency, getting them improved or better means improvement in production or efficiency which literally means there is much reward for time, money, resources etc spent. Their inefficiency could mean doom for any business or project. It could literally lead to loss.

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In December, Juliet had a job of wrapping gifts for a department store. But after the holidays were over, the store no longer ne
Lisa [10]
Seasonal unemployment?
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The following e-mail message suffers from many writing faults, including poor tone and ineffective persuasive strategy. It origi
Kipish [7]

Answer:

Writing weakness of the message are listed below:

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  • Opening line of the message is poorly designed.
  • The offensive tone throughout the message is used by the manager.
  • The message contains argumentative and pushy tone.
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