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koban [17]
2 years ago
13

What was the opportunity cost in a situation in which you use your available cash to buy gas for your car and then stay hungry t

he rest of the way home?
Business
1 answer:
Elodia [21]2 years ago
4 0

Answer:

see below

Explanation:

Opportunity cost is the sacrificed benefit by choosing a preferred option over others. The value of opportunity cost is the foregone benefit from the best alternative.

In this situation, the person had to choose between buying gas for the car or using that money to purchase food. Since the person opted to buy gas, they sacrificed having a meal for the rest of the day.  The pleasure derived from eating is the opportunity cost for this person.  

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Price elasticity of demand refers to the ratio of the:
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3 years ago
Describe at least two non-discretionary expenses that you expect to have at some point in your life.
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Answer:

Non-Discretionary Expenses means payments made to third parties on account of: (a) mandatory payments of monthly debt service (but not payment of principal or interest at or after maturity) required under Loan Documents evidencing debt of the Venture or any Subsidiaries; (b) Emergency Expenses; (c) other non-

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3 years ago
Which of the following would be considered a DISADVANTAGE of the use of above-market compensation? A. It may encourage voluntary
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Answer:

E. It may encourage a sense of entitlement among employees.

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3 years ago
A customer paid $250 using a check for purchases made in the first week of January. The bank statement received at the end of th
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Answer:

Credit to cash for 250

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