User Account

All Pages

Total opportunity cost of the staycation

Assignment Help Macroeconomics
Reference no: EM132632190

You are considering to take a 2 days staycation to Lantau Island during the weekend. You have already bought a round trip ferry ticket at $146, which is fully refundable. To go to Lantau Island, you will have to apply for a leave from the part-time job where you normally work 10-hours a day at $16 per hour. You will live in your friend's place so you don't have to spend anything on accommodation. You currently live in a hotel with a daily rent of $306 that is non-refundable and typically pay $76 per day for food. You estimated that you need to pay a total of $272 for food during the staycation. Assuming there are no other costs, the total opportunity cost of the staycation for you is [Answer] dollars.

(In decimal numbers, with two decimal places, please.)

Reference no: EM132632190

Questions Cloud

Calculate the amount of goodwill recognized at January : On January 1, 2017, Palma purchased 80% of Selda Company's outstanding shares for P2,000,000, Calculate the amount of goodwill recognized at January
Determine the dollar value of cash provided : Use this information to determine the dollar value of cash provided or (used) by operating activities. If the total is a use of cash, enter as a negative number
How do increasing opportunity costs affect the shape : How do increasing opportunity costs affect the shape of the production possibilities curve ? Provide an example that illustrates
Draw the cost curves for a typical firm : Draw the cost curves for a typical firm. Explain how a competitive firm chooses the level of output that maximizes profit
Total opportunity cost of the staycation : You are considering to take a 2 days staycation to Lantau Island during the weekend. You have already bought a round trip ferry ticket
Determine the unrealized gain or loss on the investment : Use this information to determine the unrealized gain or loss on the investment that should be reported at year end by All Good Company
Health professional-personal moral and ethical belief system : Do health professionals have the right to conscientiously object to providing care if it varies from their own personal moral and ethical belief system?
How should Heather record and measure such a liability : An employee not taking his/her earned sick days would receive payment thereon on December 31 of that year. How should Heather record and measure such liability
What is the total benefit from the consumption : Sam likes eating ice-cream. Below is the marginal benefit (MB). He will derive from the consumption of an additional n-th unit of ice-cream.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

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