The opportunity cost of buying two more pairs of shoe is 1 suit.
<h3>What is opportunity cost?</h3>
Opportunity cost is an economic term for expressing cost, in terms of foregone alternative.
Given the information above,
Her opportunity cost of consuming one extra pair of shoes instead of one suit
= $50 / $100
= 0.5 suit or half a suit
Her opportunity cost of consuming one suit instead of a pair of shoes
= $100 / $50
= 2 pairs of shoes
Hence, the opportunity cost of consuming 2 more pairs of shoes
= 0.5 suit x 2
= 1 suit
Learn more about opportunity cost here: brainly.com/question/14909550
#SPJ1
It allows a fair exchange between labor and being rewarded. Which is also very ethical.
Answer:
Bounded rationality.
Explanation:
This is explained to be a model that is been used in making choices between alternatives. Models of this kind brings about use of logic, analysis and objectivity always which appear over subjectivity and insight. In this particular model, approaches like Formulating of goal, decision making, identification of criteria for decision making, performing analysis etc are seen to make this model a better type of its kind. Here individuals who are seen to posses high cognitive ability are seen handling of decisions and making quality arrangements towards its actualization.
In a lot of cases, it is seen to not consider factors that cannot be quantified, such as ethical concerns or the value of altruism.
"Policyholder" <span>signs a contract with a health insurance company and thus, owns the health insurance policy.
</span>
A policyholder refers to a person who owns and claims a protection or insurance arrangement and has the privilege to practice all benefits under the agreement of protection, aside from where limited by the privileges of an appointee. A policyholder could conceivably be the safeguarded, or the sole or one of the recipients of the policy. Likewise called policyowner.
