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3 years ago

1. Explain the concept of opportunity cost with an appropriate example.

Business

1 answer:

inn [45]3 years ago

4 0

Answer:

Concept & example of Opportunity Cost

Explanation:

Opportunity Cost is the cost of next best alternative foregone, while choosing an alternative. This arises because of 'choice' problem, due to unlimited wants & limited resources - having alternative uses.

Eg : If I can have 2 chapatis or a bowl of rice. And, I eat a bowl of rice. Then, 'opportunity cost' of a rice bowl is - the next best available '2 chapattis' foregone for the former.

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3 years ago

Your father is about to retire, and he wants to buy an annuity that will provide him with $84,000 of income a year for 25 years,

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3 years ago

How many hotels are in the APAC region

dem82 [27]

According to an article that I found online which was written in December 2015, and according to the statistics that STR Global (which is the best at providing information about the global hotel industry), there are about 2,435 hotels with 562,781 rooms in the Asia-Pacific region.
Now, there are probably even more because many new hotels were being built at the time.

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3 years ago

Suppose Oliver's marginal utilities from an ice cream cone and a box of chocolate cookies are valued at $6 and $10, respectively

timama [110]

Answer:

Purchase the Ice Cream Cone for a net addition to marginal utility of $1

Explanation:

Marginal Utility is explained as the level of satisfaction that is added when a consumer consumes an additional unit of a product or patronizes a service. It determines the number of items an individual is willing to purchase based on his additional satisfaction from every extra item.

If the additional item leads to an increase in total utility then it is called positive marginal utility and when it decreases total utility then it is called negative marginal utility.

Oliver based on marginal analysis should purchase the Ice Cream Cone for the difference in value of $5 to 6$, that is the net additional marginal utility of $1, but should not purchase the box of chocolate because the marginal utility does not change it remains $10

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3 years ago

In 2020, Creeper Corporation had a $4,000 net long-term capital loss that it could not carry back. For 2021, it reported the fol

podryga [215]

Answer:

d. Net long-term capital gain of $1,000

Explanation:

2020, $4,000 net long-term capital loss that it could not carry back.

2021, Long-term capital gain $2,000

2021, Short-term capital gain $3,000

In 2021, Creeper would reports a:

Net long-term capital gain = Long-term capital gain + Short-term capital gain - Net long-term capital loss

Net long-term capital gain = $2,000 + $3,000 - $4,000

Net long-term capital gain = $1,000

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3 years ago

1. Explain the concept of opportunity cost with an appropriate example.​

1. Explain the concept of opportunity cost with an appropriate example.