What is the cost-in dollars of purchasing frog

Assignment Help Business Economics
Reference no: EM133235663

Question

You have only $6 and you are currently planning on buying three coffees each at $2: the first you value at $8, the second you value at $6 and the third you value at $4. Prof. Gazzale then offers to sell you a frog for $4. What is the (opportunity) cost, in dollars, of purchasing the frog?

Reference no: EM133235663

Questions Cloud

Simple case of pricing with market power : The simple case of pricing with market power assumes that all consumers are charged the same price, the firm sells one product,
Differentiate growth from development : Differentiate growth from development. Are all forms of growth contributory to development? If yes or no, why.
Create value proposition for the company : Provide background information on the company. Create value proposition for the company.
Make any additional deposits into investment account : If you do not make any additional deposits into this investment account, how much cash will you need at the time of the upgrade?
What is the cost-in dollars of purchasing frog : Gazzale then offers to sell you a frog for $4. What is the (opportunity) cost, in dollars, of purchasing the frog?
Monopolistic competitive to more of oligopolistic one : There are many economists who have been analyzing different industries move from a monopolistic competitive to more of an oligopolistic one.
Effective intercultural communication assuming superiority : Explain and give examples of the barriers to effective intercultural communication assuming superiority, similarity, differences, stereotyping and prejudice.
Calculate balance of trade between china and cameroon : Calculate the Balance of Trade between China and Cameroon from 2012 to 2020. Please show the calculations and give a summary explanation
Spirit of modern-day konohiki : But what person or people in contemporary society do you think fulfill(s) the spirit of a "modern-day konohiki?" Explain.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

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