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mart [117]
3 years ago
11

Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer La

rry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. Larry's opportunity cost of attending State NoName U is:
Business
1 answer:
Monica [59]3 years ago
3 0

Answer: $15,000

Explanation:

Given that,

Elite U:

Costs $50,000 per year

Larry values attending Elite U = $60,000 per year

State College:

Costs = $30,000 per year

Offered Larry an annual scholarship = $10,000

Larry values attending State College = $40,000 per year

No Name U:

Costs = $20,000 per year

Offered Larry a full annual scholarship = $20,000

Larry values attending No Name = $15,000 per year

Larry gets economic surplus from:

Elite U = $60,000 - $50,000

           = $10,000

State college = $40,000 + $10,000 - $30,000

                     = $20,000

No Name U = $15,000 + $20,000 - $20,000

                   = $15,000

State college > No Name > Elite U

Therefore, the opportunity cost of attending State college is the value of the next best alternative that is No Name U.

Hence, the opportunity cost is $15,000.

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Riva crafts and sells hard cider as a part-time job. She can bottle and sell four cases in a week. She is considering hiring her
Dovator [93]

Answer:

3 cases

Explanation:

Marginal product refers to change in the total output when an additional input is employed. For example, output is 5 units when 2 laborers are employed. When another unit of input i.e 3rd laborer is employed, the output rises to 9 units. In this case marginal product of the 3rd unit of labor would be 9 - 5 i.e 4 units.

In the given case, before Atul is hired, the production was 4 cases per week. After his being hired, it rose to 7 cases per week. Thus Atul's marginal product in the given case would be 7 - 4 i.e 3 cases.

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3 years ago
As suggested by president john. f. kennedy, the consumers’ right to be _____ states that consumers should be assured that the go
Oxana [17]
<span>Of the four rights that Kennedy mentioned, this would be the right to safety. He felt that products should be made in a way that they would not hurt someone who used it in the proper manner. The other rights he mentioned were the rights of being informed, rights to choose, and rights to be heard.</span>
7 0
3 years ago
Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Activity Cost Pool Tota
igor_vitrenko [27]

Answer:

Estimated manufacturing overhead rate (Meeting with clients)= $170 per hour

Explanation:

Giving the following information:

Activity Cost Pool -  Total Cost -  Total Activity

Researching legal issues $ 22,130 and 750 research hours

Meeting with clients $ 1,270,410 and 7,473 meeting hours

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Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate (Meeting with clients)= 1,270,410/7,473= $170 per hour

3 0
3 years ago
a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective int
Vitek1552 [10]

Answer:

$7,776,899

Explanation:

Calculation to determine what interest expense would it recognize in its 2021 income statement

Interest expense= $388,844,955 * 8% * (3 months/12 months)

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Interest expense= $7,776,899

Therefore the interest expense that would be recognize in its 2021 income statement is $7,776,899

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What is the process of converting the currency of one country into the currency of another country?
Arada [10]

Answer:

Foreign exchange

Explanation:

The process of converting the currency of one country to another is known as foreign exchange or Forex. Converting or exchanging to a particular currency is buying that currency. One needs to have their home currency or any other currency to convert it to the desired currency.

If both currencies have equal strengths, then one unit of a currency should exchange with one unit of the other. The exchange rate would be one. Since currencies have different strengths, they convert or exchange at different rates.

5 0
2 years ago
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