Q: What is opportunity cost?
A: "In economics, cost refers to the value of money that is spent in order to produce a good." Costs…
Q: You were planning to spend Saturday working at your part-time job, but a friend asks you to go to…
A: Opportunity costs are incurred when a person, an investor, or an organisation chooses one…
Q: Use the given production possibilities curve (PPC) to answer the following question. A city…
A: Production Possibilities Frontier (PPF) is a graph that shows all of the potential output…
Q: what is the potential opportunity cost of watching a lot tv show.
A: If a lot of television is watched, then it reduces the time available for other activities, for…
Q: You have just woken up and are deciding whether to sleep for one more hour or not. If you don’t go…
A: Oppurtunity cost is defined as the cost incurred by any individual when benefits associated with the…
Q: What is opportunity cost and how can this concept be applied in real life?
A: In economics, opportunity cost is an important concept to study as it has significance in making…
Q: In one week, Susan can see 4 blouses or bake 280 pies. The opportunity cost per pie is
A: Opportunity is the income foregone, that is, the income that has to be given up to pursue other…
Q: Class, if I give you a “free” ticket to the Opera House downtown, would you necessarily go? How can…
A: Opportunity cost is the value of next best alternative, that is benefit that could have been derived…
Q: You leave work two hours early from $10 an hour job, stopping to buy a $15 take-out dinner as you…
A: Opportunity cost is the sacrifice of the benefit of a particular task for doing another task. The…
Q: Define opportunity cost in three (3) words/phrases and explain why
A: Opportunity cost is forgone best alternative choice.
Q: You have just woken up and are deciding whether to sleep for one more hour or not. If you don’t go…
A: Oppurtunity cost is defined as the cost incurred by any individual when benefits associated with the…
Q: What item u figure out of opportunity cost of vacation to Disney world
A: Opportunity cost is the cost of alternatives when one chooses to do one thing.
Q: You have just woken up and are deciding whether to sleep for one more hour or not. If you don't go…
A: Opportunity cost refers to the value of next best alternative use of given resources.
Q: What is an Opportunity Cost in economics? Answer by giving an example.
A: Opportunity costs are the cost that represents the potential advantages an individual, investor, or…
Q: Edgar, who is a driver for Uber and earns $12 per hour, is considering going to see a movie tonight.…
A: Given information Earning per hour from driving = $12 Cost of movie =$20 Movie duration = 4 hours…
Q: What is the opportunity cost of moving from point I to point D? Explain.
A: The maximum output of two items utilizing a fixed amount of input is measured by a production…
Q: Assume you have a production possibilities frontier (PPF) bowed out from the origin with healthcare…
A: The Production Possibility Frontier is the locus point of all the different combinations of the two…
Q: Production Alternative Types of Production A B C D E Butter 10 14 16 Guns 50 40 30 20 a. Draw a…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…
Q: In the first graph with hats and videos are opportunity costs constant or increase? How much does…
A: The law of increasing opportunity cost is the concept that as you continue to increase production of…
Q: Tonight, you and your friends are planning to see Black Panther for which you have a $4 off coupon.…
A: Opportunity costs are represented by the potential advantages an individual, investor, or business…
Q: Does this production possibilities curve show increasing opportunity costs? Explain
A: The curve that depicts the combination of goods that could be produced using the resources being…
Q: What is the opportunity cost to produce the first 10 Saturn Rings? B. What is the opportunity cost…
A: Note: As per the guidelines we will answer only three subparts. Please resubmit the question again…
Q: 1. Discuss the idea of an opportunity cost and think of three opportunity costs that you have made…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: opportunity cost
A: Opportunity cost: It refers to the cost which is to be occur by the company for choosing the next…
Q: What is an opportunity cost? Give an example from class or make up your own
A: Economics studies how scarce resources are allocated in a manner that most of the human needs are…
Q: hat is your opportunity cost of going to college
A: Opportunity cost is a notional cost it is a lost opportunity in choosing the best alternative from…
Q: a. If a business is producing 4 mobile phones and 15 cameras, would they be efficient? If no, what…
A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…
Q: Okay, so if I want one more bottle of water, what does this cost me in terms of fish? The…
A: A Production Possibility Frontier is a graph that shows all the possible combinations of two…
Q: What’s the difference between trade off and opportunity costs
A: As we know that human wants are limited but means to satisfy these wants are limited. A person has…
Q: What is the opportunity cost of increasing the number of movies produced?
A: Opportunity cost refers to the given up benefits to obtain some other benefits.
Q: Opportunity cost is whatever you give up to get something. What is the opportunity cost of staying…
A: Answer: Opportunity cost: The opportunity cost of an action refers to what people give up to do that…
Q: A farmer decides to use land for farming instead of building a golf court what is the opportunity…
A: Answer: Introduction: Opportunity cost: opportunity cost refers to the value of the next best…
Q: What is the opportunity cost of 100 shirts?
A: Opportunity cost is the option foregone in order to produce something.
Q: What do opportunity costs represent?
A: A trade-off is a situation, where making one choice or purchasing one good means losing the chance…
Q: What is the opportunity cost in economics?
A: The opportunity cost of a specific activity option in microeconomic theory is the loss of value or…
Q: Prag the production possibilities frontier (PPF) on the graph to show the effects of a technological…
A: PPF shows the amount of production of two goods in the economy
Q: Imagine a society that produces military goods and consumer goods, which we’ll call “guns” and…
A: a) A production possibility frontier shows combinations of goods produced by an economy. Here given…
Q: Magdalena decides to plant some fresh flowers in her garden? what is the opportunity cost a.Time…
A: The opportunity cost of a specific activity option in microeconomic theory is the loss of value or…
Q: C. Is point B efficient? Why?
A: Production possibility frontier shows all possible combinations of production bundles that make…
Q: What is the opportunity cost of beer as production moves from point C to Point A?.
A: Opportunity cost in PPC is the marginal rate of transformation. MRT= Loss/Gain MRT from point C to…
Q: Joel can prepare 8 meals or wash 24 shirts in a day, Patricia can prepare 6 meals or wash 12 shirts…
A: The opportunity cost is the cost of next best alternative forgone while making choice. In other…
Q: What is a trade off? How does economics decide on what must be produced? What is an opportunity…
A: Answer: What is a trade-off? Trade-off: trade-off refers to the situation where one choice or good…
Q: Marie has a weekly budget of $24, which she likes to spend on magazines and pies. What is Marie’s…
A: A budget constraint is faced by an individual and represents the different possible combinations of…
Q: Does an increase in the opportunity cost mean that you have to give up more to obtain something…
A: The benefit which is forgone that would, in turn, had been derived through an option not being…
Q: Based on the graph, what is the opportunity cost of moving from point B to point D? Baseballs A 200…
A: Opportunity cost is the foregone benefit when an alternative is preferred.
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- 32. DETAILS Prompt 0/1 Submissions Used 2-D. What is the standard deviation (in whole minutes) for the above flight? O 6400 23 533 12 80 25 O 24 Submit Answer MY NOTES Quantas Airlines quotes a flight time of 20 hours, 15 minutes for its flight from New York (JFK), USA to Sydney (SYD), Australia. Suppose that the actual flight time is uniformly distributed between 19 hours 35 minutes and 20 hours 55 minutes. ASK YOUR TEACHERPlease answer fast please arjent help in questions 19 and 20 in bothsc. te Con oa S Payn Comp able for discrete con cto . C Enetor 76 Fiid A Given P (Round to the neare T Find AIP acceptable. O8929 0.7972 07118 0 6355 0.5674 0 5066 0.4523 0,4039 0 3606 10000 21200 O 8929 1.1200 0.5917 1 1.1200 1,0000 0.4717 16901 2 4018 1.2544 0 2963 0.4163 B3744 47798 1.4049 1.5735 1.7623 1.9738 3 30373 0.2092 0.3292 3.6048 4.1114 4.5638 0.2774 6.3528 8 1152 10.0390 12.2997 14 7757 0.1574 0.1232 0.0991 0.2432 6. 0.2191 7 2.2107 0.0813 0.2013 4.9676 5.3282 5.6502 8 2.4760 0.1877 0.1770 0.0677 6. 2.7731 0.3220 17.5487 0.0570 10 3.1058 Print Done