Calculate your opportunity costs of standing in line

Assignment Help Business Economics
Reference no: EM13831836

You are standing in line. Think about what you would be doing if you are not in this line. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you are not in this line, determining the opportunity cost requires only knowing the one thing you would be doing. Calculate (in $$$) your opportunity costs of standing in line.

Reference no: EM13831836

Questions Cloud

What should you bid if you want to maximize expected profit : You are a turnaround artist, specializing in identifying underperforming companies, buying them, improving their performance and stock price, and then selling them. You have found such a prospect, Sicco. What should you bid if you want to maximize yo..
What are the final price paid and profit to winning bidder : Suppose that three risk-neutral bidders are interested in purchasing a Princess Beanie Baby. The bidders (numbered 1 through 3) have valuations of $12, $14, and $16, respectively. Which bidder wins an open-outcry English auction? What are the final p..
Labor turnover during periods of economic expansion : Labor turnover during periods of economic expansion is largely the result of:
Consider a diagram containing isocost curves for production : Consider a diagram containing isocost curves for the production of a given level of a final commodity in the household production model. Assume that purchased inputs are represented on the vertical axis while the time input is measured on the horizon..
Calculate your opportunity costs of standing in line : You are standing in line. Think about what you would be doing if you are not in this line. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you are n..
Payoff table for game when mixer type uses mixed strategy : Recall from Exercise Ul the population of animals fighting over a food source worth 200 calories. Assume that, as in part (b) of that exercise, the cost of a fight is 150 calories per fighter. Assume also that a third phenotype exists in the populati..
Draw payoff table for game played between two random players : Consider a survival game in which a large population of animals meet and either fight over or share a food source. There are two phenotypes in the population: one always fights, and the other always shares. Draw the payoff table for the game played b..
Set up this game as simultaneous-move game-find equilibrium : Consider a game between a parent and a child. The child can choose to be good (G) or bad (B); the parent can punish the child (P) or not (N). The child gets enjoyment worth a 1 from bad behavior, but hurt worth -2 from punishment. Thus a child who be..
What laws in cuba are restricting them from leaving legally : For the past few years, Cuban baseball players have been leaving their country illegally to play professional baseball in the United States. (Ex. Yasiel Puig, Rusney Castillo, Jose Abreu). What laws in Cuba are restricting them from leaving legally? ..

Reviews

Write a Review

Business Economics Questions & Answers

  Microsoft wants to sell more copies

Microsoft wants to sell more copies the additional income from each additional copy it sells.

  How do se forces differ from external stakeholders

Identify at least four forces in general environment of organizations and provide an example of each for an industry or business. How do se forces differ from external stakeholders in task environment.

  Qconsider republic of netflexs balance of payments in

q.consider republic of netflexs balance of payments in 2009foreign investment into netflex 22imports of goods as well

  Elucidate how the relative composition

Elucidate how the relative composition of M1 changed since 1965. Do your best to explain why this change has occurred.

  Quantity of burgers demanded in equilibrium

Illustrate what is the quantity of burgers demanded in equilibrium.

  What the balance sheet will look like

Elucidate how Illustrate what the balance sheet will look like (comparison to above) if Brimstone declares a 10% stock dividend.

  Explain why is the index of industrial production

Explain why is the index of industrial production an appropriate coincident indicator. Why is the average prime rate charged by banks an appropriate lagging indicator.

  Defense supplier expects to generate additional revenue

A major defense supplier expects to generate additional revenue from its recently won government contract. The company expects the revenue will be $110 million in the first year and the revenue increasing by $2.5 million each year for the next 4 year..

  What is unusual about this market

Illustrate what is unusual about this market. Give an example of a good or service to might be characterized by this unusual market attribute.

  Elasticity and engel aggregation

Define ex,I and ey,I to be income elasticities for goods x and y. Define sx and sy to be income shares for x and y.

  Estimated regression equation

Estimated regression equation for which quantifies the demand for Widget

  Federal income tax code for the united states

Make sure that you consider two cases. In the first case, the consumer does not pay any tax before x is reduced, and in the second case, the consumer pays a positive tax before x is reduced.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd