Explain opportunity cost of evening at the movies

Reference no: EM13177416

The night before an economic exam, you decide to go to the movies instead of staying home and working your MyEconLab study plan. You get 50 percent on your exam compared with the 70 percent that you normally score.
a. Did you face a tradeoff?
b. What was the opportunity cost of your evening at the movies

Reference no: EM13177416

Questions Cloud

Describe the effects on the price of a recordable cd : What is the effect on the price of a recordable CD and the quantity of recordable CDs sold if a. The price of an MP3 download rises? b. The price of an iPod falls? c. The supply of CD players increases?

What is probability that there is at most one empty parking : Mary and Tom park their cars in an empty parking lot with n≥2 consecutive parking spaces (i.e, n spaces in a row, where only one car fits in each space). Mary and Tom pick parking spaces at random. (All pairs of parking spaces are equally likely.)..

What is the lenght of the beam at 70f : the lenght of a steel beam is a linear function of the temperature when temperature is 40F a certain steel beam is 50 feet long and at 95 F the same beam is 50.12 feet long.what is the lenght of the beam at 70F? at what temperature is the beam 49...

Calculate tom''s opportunity cost of producing a ball : Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour. a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.

Explain opportunity cost of evening at the movies : The night before an economic exam, you decide to go to the movies instead of staying home and working your MyEconLab study plan. You get 50 percent on your exam compared with the 70 percent that you normally score. a. Did you face a tradeoff?

How important is the type of line in graphing an inequality : Discuss the difference in appearance of a graph of an equation and a graph of an inequality.

Find average return over the last ten years on a mutal fund : Is there a point at which your investment appears to grow more quickly? What can you conclude about the affect of time on your retirement plans?

What action is needed to maintain the gross margin : If the unit selling price is $2.50 and the unit cost is $1.00, what action is needed to maintain the gross margin percentage when unit cost increases $0.25?

Describe various revenue models for video content shifts : Describe various revenue models available as video content shifts from atoms to bits. What are the advantages and disadvantages to each - for consumers, for studios, for middlemen like television networks and Netflix?

User Account

All Pages