What was your opportunity cost

Reference no: EM133706601

Question: Consider the following scenario in relation to your GYM venture and determine the opportunity cost of leaving your job to become a GYM entrepreneur. You currently make $X per year at your job plus benefits (equal to 30% of your salary) (you don't have to publicly state your salary - just the opportunity cost). On January 1 of the New Year, you start your own GYM business. After the first year, your accountant informs you that you made $45,000 and out of that you paid $6,000 for health insurance. What was your opportunity cost? If your opportunity cost is higher than you would like, how can you lower your opportunity cost in the future years?

Reference no: EM133706601

Questions Cloud

Diagnosing asthma includes careful medical history : Diagnosing asthma includes a careful medical history and physical examination, with the focus on the upper airways, chest and skin.

Create a portfolio between uber and wal mart : Create a portfolio between Uber and Wal Mart with zero or minimum variance assuming the following. (Remember Wa/Wb = sigma b /sigma

How do postsecondary institutions manage resource allocation : Describe the different types of business models: Incremental budgeting, zero- based budgeting. How do postsecondary institutions manage resource allocation?

How to properly use their asthma medications : As the primary care provider, you educate patients to ensure they know how to properly use their asthma medications.

What was your opportunity cost : What was your opportunity cost? If your opportunity cost is higher than you would like, how can you lower your opportunity cost in the future years

What is the role of leaders in helping their organizations : What is the role of leaders in helping their organizations to navigate the challenges of a global marketplace?

Calculate the monthly income per capita in each country : Calculate the income per capita as the number of all turkeys caught divided by the number of people in the country.) Compare these monthly incomes per capita

What impact would the changes have on the us economy : What impact would those changes have on the U.S. economy (or, if you are an international student, on your home country's economy)?

Identify the relevant elasticity concept : Identify the relevant elasticity concept for the given event.? Then, compute the measure of elasticity using average prices and quantities in your calculations

User Account

All Pages