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dolphi86 [110]
3 years ago
15

Explain how opportunity cost is different for economic goods and free goods

Business
1 answer:
Pepsi [2]3 years ago
5 0

Answer:

The difference is that free goods have exactly zero opportunity cost, because they cost nothing, their price is zero, and their use is non rival, and non excludable, meaning that if a person uses a free good, that person does not prevent any other person from using the good.

Economic goods, on the other hand, are goods that have a price, and that have a cost of production. Besides they are rival and/or exclusionary. The opportunity cost of an economic good varies depending on the good, but it is never zero.

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D. his fixed amount of psychic energy

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You are in talks to settle a potential lawsuit. The defendant has offered to make annual payments of $28,000, $32,000, $66,000,
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Answer:

$202,137.90  

Explanation:

Year Annual payment Discount factor  Present value  

1 $28,000          0.965250965 $27,027.03  

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3 $66,000          0.899333423         $59,356.01  

4 $99,000          0.868082454 $85,940.16

Total present value                                         $202,137.90  

The discount factor should be computed by  

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6 0
3 years ago
19. An investor has purchased a property that is giving him a 10% rate of return. Potential gross rents total $10,000.00 a month
gogolik [260]

Answer:

the market value of the property is $628,300

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3 years ago
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Durable goods can be used for a relatively long time. So they will have a less elastic demand.

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