Find what is the opportunity cost of an increase in income

Reference no: EM13231743

Total Hours Hours Studying GPA Hours working Income
60 60 4.0 0 0
60 40 3.0 20 100
60 30 2.0 30 150
60 10 1.0 50 250
60 0 0.0 60 300

(a) Calculate the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 grade point average(GPA) rather than a 2.0 GPA.

(b) Is the opportunity cost the same for a move from a 0.0 GPA to a 1.0 GPA as it is for a move from a 1.0 GPA to 2.0 GPA.

Reference no: EM13231743

Questions Cloud

How human capital differ from global organizational goals : Why do global human capital goals differ from global organizational goals and how can global human capital goals be strategically aligned with the global organizational goals?

What is the annual holding cost : Your company manufactures turbine blades for engines in production batches for each type. For one type of blade, the A39T, you have an annual demand of 10,000 units. It costs you $1000 and takes four days to set up each manufacturing run.

State the reactions and explain : When an alkyne, such as but-2-yne, is subjected to D2 and palladium, 2 equivalents of D2 are added. When an alkene, such as cis-but-2-ene, is subjected to these conditions, only 1 equivalent of D2 is added. When an alkane, such as butane is subjec..

How intuition be combined with a rational decision approach : Do you think that intuition is a valid approach to making decisions in an organization? Why or why not? How might intuition be combined with a rational decision approach?

Find what is the opportunity cost of an increase in income : (a) Calculate the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 grade point average(GPA) rather than a 2.0 GPA. (b) Is the opportunity cost the same for a move from a 0.0 GPA to a 1.0 GPA as it is for ..

Determine the assignment of teams to jobs : An aircraft repair facility currently has four jobs awaiting work. Four teams of mechanics are available. Each team can work on only one of the jobs. Over a period of several months the manager has evaluated the repair teams in a variety of jobs.

Compute the acidity constant : Using the concentration of CH3COOH (0.8326M) and the equilibrium concentration of H3O+ (OJ = 31.6x10^-6 and milk = 3.16x10^-8), complete the reaction table for vinegar. Then calculate the acidity constant. Please show all work in solving the probl..

How to produce linear combination of chickens and potatoes : Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes

What is the break-even point for this operation : A product is currently made in a job shop, where fixed costs are $4,500 per year and variable cost is $10 per unit. The firm sells the product for $70 per unit. What is the break-even point for this operation? What is the profit (or loss) on a dem..

User Account

All Pages