What is the opportunity cost

Assignment Help Business Economics
Reference no: EM132117731

You have three options for the last $5 in your pocket: a cappuccino you value at $6; a smoothie you value at $7, and a frog. What is the (opportunity) cost, in dollars, of purchasing the frog? (Do NOT enter the $.)

Reference no: EM132117731

Questions Cloud

What type of study design was used in this research : a. What type of study design was used in this research? b. Calculate and interpret the relative risk and odds ratio of autism for vaccine recipients
What happens to wanda demand for labour curve : At Wanda's fish store, packers' wages increase to $10 an hour, but the price of fish remains at 50¢ a kilogram. What happens to the value of marginal product.
What is the opportunity cost : Based on this information, what is the opportunity cost, in dollars, of seeing Drake?
Reviewing and confirming your organization : Identify two stakeholders you may consult when reviewing and confirming your organization's vision and mission.
What is the opportunity cost : What is the (opportunity) cost, in dollars, of purchasing the frog? (Do NOT enter the $.)
Why labour union scarce in new york low-income neighbourhood : In Modern Rarity, Workers Form Union at Small Chain In New York's low-income neighbourhoods, labour unions have virtually no presence.
Describe the four characteristics of educational systems : Describe the FOUR characteristics of educational systems that Ravitch lists as high-performing nations.
Devise an assessment plan of applications for performance : Apply concepts and theories of human factors as related to network design and implementation - Human factors in network analysis and design
Why is river preservation considered a public good : (a) Why is river preservation considered a public good? (b) What is the competitive market equilibrium price and quantity for miles of river preservation?

Reviews

Write a Review

Business Economics Questions & Answers

  Expansionary fiscal and monetary policies

Focus of the Final Paper In an effort to move the economy out of a recession, the federal government would engage in expansionary economic policies. Respond to the following points in your paper on the actions the government would take to address exp..

  China trade surplus and exchange rate system

Chinese policies have created a great deal of controversy and discussion. For each of the following topics, describe the issues raised by China’s trading partners and evaluate their concerns. China’s trade surplus. China’s exchange rate system

  What is this firms marginal cost function

What is this firm’s marginal cost function? Over what range of output are the firm’s marginal costs decreasing? Increasing?

  Compute an appropriate measure of central location

Compute an appropriate measure of central location for the variables wind direction, temperature, and pavement.

  Spacely sprockets'' short-run cost

Spacely Sprockets' short-run cost curve is: C(q, K) = + 15K, where q is the number of Sprockets produced and K is the number of robot hours Spacely hires.

  Concepts of efficiency and equity to support

How would this concept apply to the policy of giving everyone "free" college tuition? Use the concepts of efficiency and equity to support your explanation.

  Superior operating efficiency

Calvin’s Barber Shops, Inc. has a monopoly on barbershop services provided on the south side of Chicago because of restrictive licensing requirements, and not because of superior operating efficiency. As a monopoly, Calvin’s provides all industry out..

  What would your advice be to congress

what would your advice be to Congress? You must include the implications (the consequences to business and workers) in your analysis?

  How was fiscal and monetary policy used

How was fiscal and monetary policy used to reduce the recessionary gap? Be sure to provide specific examples.

  How do we deter free riders

How do we deter free riders? What is the cost (to society) of free riders? Give an example of a public good that has a large amount of free riders. How can we change this?

  Relationship between the price of asset and interest rate

There is no relationship between the price of an asset and the interest rate. When the price of an asset? falls, the interest rate? falls, everything else remaining the same. When the price of an asset? rises, the interest rate? falls, everything els..

  Find the equation for the budget set of an individual

Let Nt = nNt−1and Mt = zMt−1 for every period t,where z and n are both greater than one. The money created each period is used to finance a lumpsum subsidy of a ∗ t goods to each young household. Find the equation for the budget set of an individual ..

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