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
Mice21 [21]
3 years ago
8

Suppose, as your birthday gift, your best friend give you a 4-day general admission ticket for Bonnaroo 2018 with a market value

of $554.50. What is your opportunity cost of going to Bonnaroo this year using the free ticket?
Business
1 answer:
Flauer [41]3 years ago
4 0

Answer:

Cost of 4 days time: In terms of earnings sacrifised from those working days, or any qualitative value of that time.

Explanation:

Opportunity Cost is the cost of next best alternative sacrifised while choosing an alternative.

It might be material, immaterial .

  • Eg1: Working at Job1 with salary 10000, having other job option with salary 8000. Opportunity cost of Job1 is Job2 salary.
  • Eg2: Me preferring Chapati over rice, opportunity cost of consuming Chapati is rice' satisfaction.

Eg 1 has material (monetary) opportunity cost i.e salary. Eg 2 has immaterial opportunity cost i.e satisfaction.

Admission ticket for Bonnarro would have had opportunity cost = its price i.e $554.50 as the amount sacrifised to get that. However: as given the ticket is gifted free ; the opportunity cost of that is 4 days time sacrifised to attend it. The value of that sacrifised time may be in form of :- earnings lost from those 4 working days sacrifised (material) ; or 4 days time to be spent with family sacrifised (immaterial).

You might be interested in
Suitable options to solve the financial problem of a restaurant owner
kondor19780726 [428]

Answer:SBA Loans for Restaurants. ...

Restaurant Equipment Financing. ...

(Unsecured or Secured) Business Lines of Credit. ...

Unsecured Restaurant Business Loans. ...

Restaurant Cash Advances.

Explanation:

3 0
3 years ago
SUB TO ME thunderoflight12 PLSSSSSSSSSSSSSSS I WILL MARK BRAINLYIST IF YOU DO FOR ALL MY THINGS
qwelly [4]
I will look at your profile and see if I can subscribe based on your content
7 0
3 years ago
Read 2 more answers
Maud, a calendar year taxpayer, is the owner of a sole proprietorship that uses the cash method. On February 1, 2019, she leases
gtnhenbr [62]

Answer:

She can deduct the full $120,000. the answer is $120,000.

Explanation:

Therefore, M is following cash basis of accounting , She can deduct the full $120,000 amount. Under cash system, expenses are recorded when cash is paid irrespective of whether it is accrued or not.

5 0
3 years ago
Leno Company sells goods to the Fallon Company for​ $10,000. It offers credit terms of​ 2/10, n/30. If Fallon Company pays the i
Zinaida [17]

Answer:

Leno Company will record a debit to Cash in the amount​ of: D. ​$9,800

Explanation:

The terms of 2/10, n/30 means 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

Fallon Company pays the invoice within the discount​ period - early enough to receive a 2% discount. The discount amount is 2% x $10,000 = $200.

On the other hand, Leno Company has to offer a 2% discount to Fallon Company. Cash amount Leno Company receives = $10,000 - 2% x $10,000 = $9,800

Leno Company will record a debit to Cash in the amount​ of $9,800

6 0
3 years ago
Alice is an employee of Mid-State Realty Services. She would likely be required to do which of the following?
masha68 [24]

Answer:

The correct answer is B. Attend weekly staff meetings at the office.

Explanation:

Taking into account the nature of the organization (real estate sector), where sellers are assigned a quantity X of properties, they must usually account for their weekly activities. For which it is necessary to attend meetings held in order to assess trends, achievement of objectives, etc.

7 0
3 years ago
Other questions:
  • NAME ONE ORGANIZATION THAT CAN HELP A NEW ENTREPRENEUR WITH FUNDING AND SKILL DEVELOPMENT SOUTH AFRICA
    15·1 answer
  • Which of the following lists contains, in this order, natural resources, physical capital, and human capital?
    10·1 answer
  • Could someone help me on my resume for my career class?
    8·1 answer
  • When you hire an employee, he or she must complete Form I-9. This form
    7·1 answer
  • Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see if they are using hi
    6·1 answer
  • Corey, the chief financial officer of Maurectric Inc., an electronics company, is also an investor in the stockmarket. As the sh
    14·1 answer
  • I really need help, What are the five foundations? Include purpose/ importance of each step
    5·1 answer
  • What is the address bar in Firefox?
    5·1 answer
  • Assume that your nominal wage was fixed at $25 an hour, and the price of gasoline fell from $4.00 to $1.50. In this case, your r
    13·1 answer
  • What will help a person with power of attorney make good decisions?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!