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olga2289 [7]
2 years ago
13

2. What is the concept of an “Opportunity Cost” in economics?

English
1 answer:
puteri [66]2 years ago
8 0

Answer:

The concept of an opportunity cost is when a business decision makes you lose out on potential profit.

Explanation:

I think this is what it is, hope this helps :)

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Members at the star theather pay $30.00 per month plus 1.95 for each movie. Nonmembers pay the regular $7.95 admission fee. How
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Answer:

5 films.

Explanation:

Let us first express the amount of money, both member and nonmember will pay depending on the number of films they see.

Member will pay thirty dollars plus $1.95 for each film, which can be written as:

$30 + $1.95 • x

Nonmember will pay $7.95 for every film he sees, which can be written as:

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Since it is given that they to pay the same amount, that means:

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Now, let's find x:

$30 = $7.95 • x - $1.95 • x

$30 = $6 • x

x = 5

So, member and nonmember will have to see 5 films each in order to pay the same amount.

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