1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gelneren [198K]
3 years ago
9

If the best surgeon in town is also the best at cleaning swimming pools, then according to economic reasoning, this person shoul

d
Business
1 answer:
dedylja [7]3 years ago
4 0

Answer:

specialize in being a surgeon because its opportunity cost is lower.

Explanation:

Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.

Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.

Assuming the best surgeon in town is considered to be the best at cleaning swimming pools, then from an economic perspective and reasoning, this person should specialize in being a surgeon because its opportunity cost is lower.

This ultimately implies that, the benefits, profits or value associated with cleaning swimming pools i(alternative forgone) is lower compared to what is obtainable from being a surgeon.

You might be interested in
National defense is a good that is non excludable and nonrival in consumption. Suppose that, instead of national defense being p
timama [110]

Answer:

Alan is better off by $15

Explanation:

the number of citizens in latvia = 10

if citizens were levied $10 each, total amount

= 10*10

=$100

each persons valuation = 100*0.25

= $25

$25 is also Alans valuation sice he is a part of this population.

since he contribited $10, his net gain would be

$25.00 - $10.00

= $15.00

Alan is better of by $15 in the tax system.

8 0
3 years ago
In functions of business, what is an example of management?
love history [14]

The four primary functions of managers are planning, organizing, leading, and controlling. By using the four functions, managers work to increase the efficiency and effectiveness of their employees, processes, projects, and organizations as a whole.

4 0
3 years ago
have an annual coupon rate of 8 percent and a par value of $1,000 and will mature in 20 years. If you require a 7 percent return
ololo11 [35]

Answer:

I will be willing to pay $1,106 for a vanguard bond.

Explanation:

Coupon payment = Par value x Coupon rate

Coupon payment = $1,000 x 8%

Coupon payment = = $80

Price of bond is the present value of future cash flows, to calculate Price of the bond use following formula:

Price of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Price of the Bond =$80 x [ ( 1 - ( 1 + 7% )^-20 ) / 7% ] + [ $1,000 / ( 1 + 7% )^20 ]

Price of the Bond = $80 x [ ( 1 - ( 1.07 )^-20 ) / 0.07 ] + [ $1,000 / ( 1.07 )^20 ]

Price of the Bond = $848 + $258

Price of the Bond = $1,106

6 0
3 years ago
An uncle of yours who is about to retire wants to sell some of his stock and buy an annuity that will provide him with income of
lions [1.4K]

Answer:

It should cost $605,183.13 today.

Explanation:

Giving the following information:

Cash flow= $50,000

Number of years= 30

Interest rate= 7.25%

To calculate the present value, first, we need to calculate the final value using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= cash flow

FV= {50,000*[(1.0725^30)-1]} / 0.0725

FV= $4,940,897.47

Now, we can calculate the present value:

PV= FV/(1+i)^n

PV= 4,940,897.47/ (1.0725^20)

PV= $605,183.13

8 0
3 years ago
Which factor would not cause the demand curve for green tea to shift to the right? a decrease in the price of green tea a decrea
ratelena [41]
the answer i<span>a decrease in the price of green tea</span>
A demnad curve will shift to the right if the product is experiencing an increase in demand. 
research that show a positive result of consuming the product,  and the reduction of complement product would increase the overall demand of that product.

Reduction in the product's price usually followed by the reduction in supply and does not guarantee the demand curve to move to the right.
8 0
3 years ago
Read 2 more answers
Other questions:
  • The study done by the Committee of Sponsoring Organizations (COSO) on financial statement frauds that occurred during the period
    5·1 answer
  • Why is career planning important?
    8·2 answers
  • According to a summary of the payroll of Guthrie Co., $560,000 was subject to the 6.0% social security tax and the 1.5% Medicare
    6·1 answer
  • Long-term investments that cost the company $25 were sold during the year for $54 and land that cost $53 was sold for $28. In ad
    11·1 answer
  • Operations management is​ applicable:
    8·1 answer
  • Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an ela
    8·1 answer
  • Which statement is a reason for using our unconventional reserves if they were more difficult to obtain
    11·1 answer
  • Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son Total Gifts to Daughter 2014 $
    7·1 answer
  • Assuming that all occupied blocks need to be moved, how long will it take to compact the memory
    12·1 answer
  • A company has net sales of $852,000 and cost of goods sold of $565,000. its net income is $101,800. the company's gross profit a
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!