Apply the concept of opportunity cost to the following scenario: You have invested S500 for a roundtrip fare for your vacation trip abroad with a specific airline. However on the way back your flight has gotten delayed due to strike of air workers and hence you will return home a day late. You could pay an additional $200 with another flight to reach home early next day. What is the opportunity cost of missing work for that one day?

Natalie is a skilled theater artist. She is offered a job as a manager in a bank with an annual salary of $30,000, and she has a fixed monthly expense of $2,000 However, getting theater projects is challenging due to competing with the other skilled and competitive artists causing her to, on average, solo projects that result in an annual salary of $18,000 per year. Which of the following statements is not true? OA The opportunity cost of working as a manager is that of working as a theater artist OB. The opportunity cost is higher when working as a theater artist OC. Working as a bank manager is the feasible option considering non-wage attributes equal ze OD. The net benefit of working as a theater artist is negative $12,000 Natalie finds a theater project that pays $2.500 per month and it is assumed that her non-wage atributes are zero, using cost-benet analysis her net benefit is S

For each of the following, identify the opportunity cost involved: ⦁ Harry went to the club the night before his econ exam and scored a 50 instead of the usual 75 he scores.

You produce shoes (Q) with labor (L) and capital (K). The production process is as so: Q = 400L - 20L2 + 600K – 10K2 The cost of labor is $20 and the cost of capital is $30. You have a budget of $550. How many units of capital(K) should you rent/buy? Enter as a value.

A bus trip to San Diego costs $10 and takes eight hours.  The same trip can be made by plane for $58 and takes two hours.  If you can work for $5 per hour, your opportunity cost of making the trip by bus and by plane are, respectively:

John owns a computer repair shop and he owns the building where his shop is located. If he closed his business he could rent the building for $2,222 per month. Before he had the shop, he worked for a company and earned $4,067 per month. His utility bills are $511 per month and his labor costs are $1,165 per month. What is John's opportunity cost of running the business? Enter a whole number. ASUS f6 5

Suppose you start with a point on the Production Possibilities Curve.  Now, unemployment increases dramatically.  How would you show that change given your initial position?

Jenny takes a day off from work today in order to go Motor Vehicles and take her driver's license written test. The test fee is $75 and she pays $20 for parking. After taking the test she can also walk her neighbor's dog and receive $25 for it. Jenny earns a wage of $30 per hour per 9-hour day at her job. What is Jenny's opportunity cost of taking the day off? $270 $95 $25

The per-unit cost of an item is its average total cost (= total cost/quantity). Suppose that a new cell phone application costs $250,000 to develop and only $0.60 per unit to deliver to each cell phone customer. Instructions: Round your answers to two decimal places. What will be the per-unit cost of the application if it sells 100 units? Per-unit cost = $1 What will be the per-unit cost of the application if it sells 1000 units? Per-unit cost $[ What will be the per-unit cost of the application if it sells 1 million units? Per-unit cost $

What is part of the opportunity cost of borrowing a textbook from the library instead of buying it, when I am already a member of the library? The annual fee for library membership. The wage I could have earned in the time I visited the library. It has no opportunity cost if I have a subscription for the channel. The price of the book. It is a very difficult problem to understand. It depends on what we think, so please give us a definite answer with specific explanation. Personally, If the man buys the book instead of borrowing book from the library, he can save that time to use it for the work so that he can earn his wage.