Max bought a ticket to the championship baseball game for $75. Someone approaches him outside the...
Max bought a ticket to the championship baseball game for $75.
Someone approaches him outside the stadium and offers him $175 for
his ticket. If Max decides to go to the game instead of selling his
ticket, how much does it cost Max to go to the game?
A) $75
B) $100
C) $175
D) None of the above.
Homework Answers
Answer is Option C) $175
In this case Max has brought the ticket at $75 but there is opportunity cost involved of other offer. Someone else has approached Max and offered him $175 for the ticket. Since Max has not sold his ticket and decides to go to the game $175 will be considered as the cost to go to the game
Opportunity cost is cost of alternative forgone
Hence answer is Option C)
Add Answer to:
Max bought a ticket to the championship baseball game for $75.
Someone approaches him outside the...
Max bought a ticket to the championship baseball game for $190. Someone approaches him outside the...
Max bought a ticket to the championship baseball game for $190. Someone approaches him outside the stadium and offers him $405 for his ticket. If Max decides to go to the game, instead of selling his ticket, how much does it cost Max to go to the game? Multiple Choice $215 $190 $405 None of these.
Ming lives in Seattle and recently bought a $375 ticket to attend a Seattle Seahawks game....
Ming lives in Seattle and recently bought a $375 ticket to attend a Seattle Seahawks game. He is a huge fan, so even though the ticket is pricey it is well below his willingness to pay of $600. However, as game day approaches, Ming receives an invitation from his friend, Cassandra, to spend the day at the Museum of Pop Culture touring a big exhibit on Marvel superheroes. The museum visit would only cost $75, but Ming (being a big...
Assume you bought a ticket to an upcoming concert for $75. Parking is expected to cost...
Assume you bought a ticket to an upcoming concert for $75. Parking is expected to cost you $20 and you would probably spend another $15 at the concert. Now you are thinking about not going to the concert but instead just going out to dinner, which would cost you only $25. The amount of sunk cost that should influence your decision to just go out to dinner is: Multiple Choice 0 O $0. 0 O $25. 0 $35. 0 $75....
4. Jimmy has a room that overlooks, from some distance, a major league baseball stadium. He decid...
4. Jimmy has a room that overlooks, from some distance, a major league baseball stadium. He decides to rent a telescope for S50.00 a week and charge his friends and classmates to use it to peep at the game for 30 seconds. He can act as a single-price monopolist for renting out "peeps." For each person who takes a 30-second peep, it costs Jimmy S0.30 to clean the eyepiece. The accompanying table shows the information Jimmy has gathered about the...
Only B and C 1. Jimmy has a room that overlooks (from a distance) a major...
Only B and C
1. Jimmy has a room that overlooks (from a distance) a major league baseball stadium. He decides to rent a telescope for $50 a week and charge his friends and classmates for a 30 second "peep" at the game. He can act as a single price monopolist for renting out "peeps"; for each person who takes a peep, it costs him $0.20 to clean the eyepiece. The following table illustrates the information that Jimmy has gathered...
Read the following Hornung v. Commissioner, 47 T.C. 428 (1967), which involves the constructive receipt doctrine...
Read the following Hornung v. Commissioner, 47 T.C. 428 (1967), which involves the constructive receipt doctrine and how it was used to determine the year of inclusion in taxable income. How does the constructive receipt doctrine impact a cash-basis individual’s taxable income? What factors could have resulted in a different determination? 47 T.C. 428 (1967) PAUL V. HORNUNG, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. Docket No. 3740-64. United States Tax Court. Filed January 27, 1967. 429*429 Michael J. Clare,...
Read the following Hornung v. Commissioner, 47 T.C. 428 (1967), which involves the constructive receipt doctrine...
Read the following Hornung v. Commissioner, 47 T.C. 428 (1967), which involves the constructive receipt doctrine and how it was used to determine the year of inclusion in taxable income and answer both question. How does the constructive receipt doctrine impact a cash-basis individual’s taxable income? What factors could have resulted in a different determination? 47 T.C. 428 (1967) PAUL V. HORNUNG, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. Docket No. 3740-64. United States Tax Court. Filed January 27, 1967....
1. Shirley wants to go on a trip to Hawaii. She budgets that she can save...
1. Shirley wants to go on a trip to Hawaii. She budgets that she can save $108 at the end of every month, and interest in her account is 8% compounded biweekly. By looking at prices, she knows that the trip will cost her $4813 total. How long in years (round to two decimal places) will it take before she can go on her trip? 2. Joey buys a new Honda civic for $18997. He agrees to payments at the...
■Case 4-B: Push the Magic Button When working on mind-numbing and monotonous projects, wouldn’t it be...
■Case 4-B: Push the Magic Button When working on mind-numbing and monotonous projects, wouldn’t it be great to have a magic button you could push to get someone else to do that boring, time-consuming stuff? At Pfizer, that “magic button” is a reality for a large number of employees. As a global pharmaceutical company, Pfizer is con- tinually looking for ways to help employees be more efficient and effective. The company’s senior director of organizational effectiveness found that the “Harvard...
You might be familiar with Crazy Eddy, an owner of the “Crazy Eddy’s” home electronics stores...
You might be familiar with Crazy Eddy, an owner of the “Crazy Eddy’s” home electronics stores that used to exist when you were younger (though maybe too young to remember). Some of the larger superstores like Best Buy and Circuit City moved in and began squeezing Eddy. As it turned out his tagline, “where the prices are insane,” was quite true, and he was forced out of business. Unbeknownst to many, Eddy was an avid skier, and his desire to...
Max bought a ticket to the championship baseball game for $190. Someone approaches him outside the stadium and offers him $405 for his ticket. If Max decides to go to the game, instead of selling his ticket, how much does it cost Max to go to the game? Multiple Choice $215 $190 $405 None of these.
Assume you bought a ticket to an upcoming concert for $75. Parking is expected to cost you $20 and you would probably spend another $15 at the concert. Now you are thinking about not going to the concert but instead just going out to dinner, which would cost you only $25. The amount of sunk cost that should influence your decision to just go out to dinner is: Multiple Choice 0 O $0. 0 O $25. 0 $35. 0 $75....
4. Jimmy has a room that overlooks, from some distance, a major league baseball stadium. He decides to rent a telescope for S50.00 a week and charge his friends and classmates to use it to peep at the game for 30 seconds. He can act as a single-price monopolist for renting out "peeps." For each person who takes a 30-second peep, it costs Jimmy S0.30 to clean the eyepiece. The accompanying table shows the information Jimmy has gathered about the...
Only B and C
1. Jimmy has a room that overlooks (from a distance) a major league baseball stadium. He decides to rent a telescope for $50 a week and charge his friends and classmates for a 30 second "peep" at the game. He can act as a single price monopolist for renting out "peeps"; for each person who takes a peep, it costs him $0.20 to clean the eyepiece. The following table illustrates the information that Jimmy has gathered...
Most questions answered within 3 hours.
-
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 41 minutes ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 43 minutes ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 48 minutes ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 52 minutes ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 1 hour ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 1 hour ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 1 hour ago -
Write MARIE assembly language programs that do the following:
Write a program that inputs an integer...
asked 1 hour ago -
Explain an understanding of services and protocols.
Explain the job of DNS.
Explain the three email...
asked 1 hour ago -
(As soon as possible) Balance each of the following equations
according to the half-reaction method:
H2O2(aq)...
asked 1 hour ago -
A thin rod with a mass of 3.5kg and a length L=1.5 m is oriented
horizontally....
asked 1 hour ago -
Inheritance pattern in BRCA 1
Describe the inheritance pattern of BRCA 1 Is it recessive or...
asked 1 hour ago