Opportunity cost of josephine''s trip to the wedding

Assignment Help Business Economics

Reference no: EM135355

Q1. Josephine makes $100 a day as a flower shop attendant. She takes off two days of work without pay to travel to another city to attend her sister's wedding. The cost of transportation for the trip is $180 round trip. The cost of her hotel stay is $99 per night and she stays for 2 nights. What is the opportunity cost of Josephine's trip to the wedding? Assume that a consumer purchases only two products. Suppose that the consumer's money income doubles, and the prices of the two products also double.

Q2. Suppose the demand for good X is given by Qdx = 10 - 2Px + Py + M. The price of good X is $1, the price of good Y is $10, and income is $100. Given these prices and income, how much of good X will be purchased?

Reference no: EM135355

Questions Cloud

Plot the lines using the inputted vector of x values and x : Write a function named solveSystem that has three inputs: two vectors consisting of coefficients [a b c] of two line equations of the form ax + by = c and a vector of x values.

Gdp be boosted if the value of the services included : By what percentage would GDP be boosted if the value of the services of stay-at-home spouses were included in GDP

Cost leadership approach implicates : The cost leadership approach implicates competing by having a lower cost than one's competitors

Write a script to solve the following systems of equations : Write a script to solve the following systems of equations using both matrix left division (\) and the inverse matrix method and Show that you have tested your MATLAB code appropriately

Opportunity cost of josephine''s trip to the wedding : What is the opportunity cost of Josephine's trip to the wedding

Estate planning individual research project : Estate Planning Individual Research Project 1. Hal made the following gifts this year- • $270,000 to his daughter • $150,000 to his son • $35,000 to his grandson • $15,000 to City University. Suppose the tax rates for 2012 are in effect. Calculate Ha..

Quantity increase or decrease depends on demand : The equilibrium quantity increase or decrease depends on Demand

Describe the concept of organisational culture : The organization's culture is often explained as the personality of an organization. It is a key factor in getting organizational goals, in attracting and keeping desirable employees, building relationships with stakeholders and creating positive p..

What if the pollution invades bakers home : What if the pollution invades Baker's home and harms her health

User Account

All Pages