Homework Answers
Question 8
Salary offered by Company A = SR 50000
Salary offered by Company B = SR 40000
Salary offered by Company C = SR 30000
The highest salary is offered by Company A.
So, the best alternative is the offer of Company A.
The next best alternative is the offer of Company B.
The cost of next best alternative is the opportunity cost.
The Company B offers a salary of SR 40000.
So,
The opportunity cost id SR 40000.
Hence, the correct answer is the option (b).
Note -: As HOMEWORKLIB Answering Guidelines, in case of multiple questions being posted, 1st question is being answered with elaborate explanation.
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Please show as much work and
explanation as possible, thank you so much!
Part 2: For each question below, select all answers that are correct (there may be more than one correct answer, there may be none). Each potential answer is worth 2 points. MPK then we can conclude that: PK MPL 1. If PL (a) The firm should use more capital (K) and less labor (L) (b) The firm is not operating on its Long Run Average Cost Curve....
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