By taking the train, Alain can travel from Paris to Lille in 1 hour. The same trip takes 5 hours by bus. The train costs 80 and the bus 20. When Alain is not traveling he can work and earn 25 per hour. a. What are the opportunity costs of traveling by bus and train for Alan? b. Will the answer change if another person chooses not to travel and work for 10 per hour? What is the new opportunity cost?

Opportunity cost is whatever you give up to get something. What is the opportunity cost of staying up all night to study for your economics final exam?  What would you be giving up to stay up all night to study for your exam?

Sara Lee just graduated from college with a degree in accounting. She hadfive job offers: Bean Counters CPA, $35,000; Assets R Us, $27,000; TheDebit Store, $30,000; J & J’s CPAs, $33,000; and The Double Entry Shop,$40,000. What was her opportunity cost if she accepted the job with TheDouble Entry Shop?

SECTION# NAME PRINT LAST NAME, FIRST NAME Use the graphs below to answer questions 7 through 10. PAM ALEX Cakes Cakes 10 9 Pies 10 Pies 6. 7. For Alex, the opportunity cost of 1 pie is cost of 1 pie is cake(s); for Pam, the opportunity cake(s). 2/3; 1 b. 2/3; 2 a. 12; 1 d. 1½; 2 Č. 8. For Alex, the opportunity cost of 1 cake is cost of 1 cake is pie(s); for Pam, the opportunity pie(s). 2/3; 1 b. 2/3; 2 a. 12; 1 C. d. 12; 2 Alex has a comparative advantage in 9. and Pam has a comparative advantage in cakes; pies pies; cakes a. cakes; cakes pies; pies C. If Alex and Pam specialize according to comparative advantage, their combined output will be: 10. 9 cakes and 10 pies. 19 cakes and 16 pies. a, 10 cakes and 6 pies. 15 cakes and 20 pies. C. b.

Why isn’t money considered capital in economics? Which of the following are microeconomic issues? Which are macroeconomic issues? a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold? b. What will cause the nation’s inflation rate to fall c. How does a quota on textile imports affect the textile industry? d. Does a large federal budget deficit reduce the rate of unemployment in the economy?   Explain the importance of the ceteris paribus assumption for an economic model.   Analyze the positive versus normative arguments in the following case. What statements of positive economics are used to support the requiring of airbags? What normative reasoning is used?   Should the Government Require Air Bags? Technological advances continuously provide new high-tech options to save lives that add to the price of cars, such as cameras, radar, and airbags. Airbag advocates say airbags will save lives, and the government should require them in all cars.…

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

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

And since we're giving up some of one good, does that mean the opportunity cost is a negative number? Josie Well, we don't often say that "it cost us negative two dollars" or "we gave up negative two units of something," right? We just say "it cost two dollars" or "we gave up two units." Sabrina Yeah, the "we gave up" or "it cost us" part kind of implies the negative, doesn't it? Josie Exactly! So we put opportunity cost in terms of absolute value - we get rid of the negative sign. Continue Sabrina Okay, so what is the opportunity cost of one cake if we move from combination A to combination B? (If needed, round to two decimal places.) PPF PPF Point A B C D E Y2 Y1 O Number of Cookies 37 35 29 20 0 X1 X2 Number of Cakes 0 4 7 9 10 D X3 X4 E → Cakes

Please help me find the answer to the following. I got the answer wrong.

Q6. Suppose you work as a tutor in your school, making $16 per hour. Yesterday, you decided to cancel your two-hours tutoring appointment to meet old friends for a tea. The tea cost you $3.50. What will the opportunity cost of this decision in dollars? Please explain in points.