User Account

All Pages

Johns goes to a football game and buys a ticket for

Assignment Help Microeconomics
Reference no: EM13316361

Johns goes to a football game and buys a ticket for $75. He has to take off two hours of work to go to the game. he earns $15/hr at work. His drive to the game requires $7 in gas. Given this information, John's opportunity cost of going to the game is: A. 112 B. 30 C. 37 D. 75 30$ didnt seem correct

Reference no: EM13316361

Questions Cloud

Determine the probability that cool-aire will incur an : Cool-Aire Corporation manufactures a line of room air conditioners. Its break- even sales level is 33,000 units. Sales are approximately normally distributed.
Py is the price of good y and pw is the price of input w : The supply function for good X is given by Qxs = 1,000 + Px - 5Py - 2Pw, where Px is the price of X, Py is the price of good Y and Pw is the price of input W
Analyze an organization to explore its management practices : Create a fictitious consulting company that will analyzed "Kmart" the main objective is to analyze an organization to explore its management practices and issues.and answer the question
What is the economic cost of jens business : Jen left a job paying $75,000 per year to start her own florist shop in a building she owns. The market value of the building is $100,000. She pays $30,000 per year for flowers and other supplies
Johns goes to a football game and buys a ticket for : Johns goes to a football game and buys a ticket for $75. He has to take off two hours of work to go to the game. he earns $15/hr at work. His drive to the game requires $7 in gas. Given this information, John's opportunity cost of going to the game i..
How large an impulse does the ball give it to the catcher : A cacher catches a 145 g baseball traveling horizontally at 34 m/s, How large an impulse does the ball give it to the catcher
Are better than budget deficits over the long run because : Are better than budget deficits over the long run because unlike budget deficits, they increase saving and investment.
How much kinetic energy is created during skaters maneuver : Two figure skaters, one weighing 625N and the other 700N , How much kinetic energy is created during the skaters maneuver
What would the perfectly competitive market price and output : The market demand is given by Q=320-8P. Monopolist's MC=10. a. Calculate the profit maximizing monopoly output and price. b. What is the Lerner-Index of market power for this monopoly

Reviews

Write a Review

Microeconomics Questions & Answers

  In which country is level of steady-state output per worker

The economies of two countries, Thrifty and Profligate, have the same production functions and depreciation rates. There is no population growth or technological progress in either country. The economies of each country can be described by the Sol..

  How industry price and output will approach the outcome

Assume the firms in an oligopoly produce a differentiated product and are initially colluding. If each firm begins to cheat (to increase sales) by underpricing the other firms, as the amount of cheating increases

  Discuss the long run implication of monopolistic competition

Discuss the long run implications of monopolistic competition with respect to (a) utilization of plant, (b) allocation of resources, and (c) advertising and product differentiation. Compare this to the situation of perfect competition.

  Determining opportunity cost

Describe why it would cost Andre Agassi or Venus Williams more to leave professional tennis tour and open the tennis shop than it would for the coach of the univeristy tennis team to do so.

  What is an opportunity cost

Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot?

  Which benefits exceed the costs might not occur

Explain the various major reasons why the quantity of education in a country would likely be less than the efficient amount in the absence of any government intervention. Include a carefully labeled and well-explained supply-demand diagram that sh..

  Would higher or lower rates increase the incomes of agents

Insurance agents receive a commission on the policies they sell. Many states regulate the rates that can be charged for insurance. Would higher or lower rates increase the incomes of agents Explain, distinguishing between the short run and the lon..

  Describe a skimming price and a penetration price

Jessica Alba, a famous actress, starts the baby and family products business, The Honest Company, with Christopher Gavigan. Alba and Gavigan set up their site so that families could choose what kinds of non-toxic, all natural products they'd like ..

  What changes could you make to decrease your energy use

What changes could you make to decrease your energy use? What changes could you make to increase your energy efficiency? ?What do you think would change if your heating oil or coal supply came from Russia?

  Perfectly competitive market

Assume that, in a perfectly competitive market at profit maximizing quantity, the market price is greater than average total cost. Describe what will happen to the number of companies,

  The marketing team of burton snowboard is analyzing her

The marketing team of Burton Snowboard is analyzing her demand for two types of snowboard – Professional and Standard models. At Thanksgiving sales, the Professional board is discounted from the original price of $1,000.

  What is the firm fixed cost at this level of output

The accompanying graph (top of next page) summarizes the demand and costs for a firm that operates in a perfectly competitive market.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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