The correct option is: B.
The opportunity cost of providing 100 additional units of medical care would be 400 warheads.
<h3>What is opportunity cost?</h3>
According to microeconomic theory, an activity's opportunity cost is the value or advantage that would be lost if it were chosen over another that would provide a higher return on investment.
<h3>What is opportunity cost and example?</h3>
When economists speak of a resource's "opportunity cost," they are referring to the cost of the next-highest alternative usage of that resource.
For instance, if you spend time and money going to the movies, you are not allowed to read a book at home during that time or spend the money on anything else.
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I understand that the question you are looking for is:
Refer to the figure below. If this economy is currently producing at point C, then the opportunity cost of providing 100 additional units of medical care would be:
Select one:
a. 800 warheads.
b. 400 warheads.
c. 200 warheads.
d. 100 warheads.
Answer: See explanation
Explanation:
The necessary closing entries from the available information at December 31 will be calculated thus:
1. Dec 31
Dr Services Revenue $13000
Cr Income Summary $13000
2. Dec 31
Dr Income Summary $10000
Cr Wages expense $8400
Cr Rent expense $1600
3. Dec 31
Dr Income Summary = $13000 - $10000 = $3000
Cr D. Mai, Capital $3000
4. Dec 31
Dr D. Mai, Capital $800
Cr D. Mai, Withdrawals $800
Answer:
Explanation:
Journal Entry is the way to record transactions, i.e business transactions into the record of account which is called Journal Book. It involves the identification of those account present in the transaction,know the type of account, then with accounting rule, record the transaction.
CHECK THE ATTACHMENT FOR THE PREPARED JOURNAL
Answer:
Barbara will have $210,349
Mary will have $188,922
Explanation:
Total time of investment is 40 years = age 67 - age 27
After 10 years, Barbara will have $27,633 (this figure used "FV" calculation in excel = FV(7%,10,2000)
Then Barbara put all $27,633 in next 30 years then she will have $210,349 = 27,633 x (1+7%)^30
Mary didn't now invest in first 10 years, but then invests $2,000 per year for the next 30 years, so she will have $188,922 = FV(7%,30,2000)
Answer:
(a) Assumption
(b) Cause and Effect
(c) Cause and effect
(d) Assumption
Explanation:
(a) People behave rationally: Assumption
Rational behavior refers to a decision-making process that is based on making assumptions that result in an optimal level of benefit or utility.
(b) Cause and Effect
If a price of goods falls that is a cause and the effect is that people will consume more of the good.
(c) Cause and effect
As the population grows faster than food supply (cause), mass starvation is predicted to occur which is the resultant effect.
(d) Assumption
The maximization of profit is based on the assumption of theory of production and costs.
