Correct option is (a).
Opportunity cost is the highest value of a benefit foregone, to choose one alternative over another. In this case, it is AED 10.
30. Suppose there are only three things you can do rather than attend class: read a...
A.İhe talent for organizing the use of land, labor and capital, un ngoher things skill in influencing government regulators and legislators C. accumulated technical knowledge in using labor and capital. o he 35. Here are three things you could do if you do not attend your economics class: watch television with some friends (you value this at $25), read a good novel (you value this at 513), or go in to work (you could earn $20 during the economics class)....
You can only carry 10 kilos, and you want to take things that have the highest value. Suppose that the things that you have are: Item Weight Value Beer 6 $30 Food 3 $14 Books 4 $16 Music 2 $9 /////////// /////////// /////////// There are two variations on the problem. 1. you can take multiple copies of each item (soyou could have one lot of beer and two lots of music worth $48 in total) 2. you can only take...
is just extra credit assienment for science artical .. Look up an article that is related to science, it must not be more than one year old. Read the article and submit a 1 page summary of the article. Some things to include are: What is the article talking about? How does the article pertain to science? What are the benefits of what is being discussed? Etc. It is to be double spaced, completed on google doc and submitting through...
4. What is the opportunity cost in each of the following situations? You do not need to explain your answer, but you should be as precise as possible. (14%) a) "I have an option between three jobs: I can work as a professor and make $150,000 per year, I can work as a consultant and make $200,000 per year, or I can work as an investment banker and make $300,000 per year. If I choose to work as a professor,...
1. "You are the best student in the class. You can get into Harvard." Which part of the statement is positive? Which part of the statement is normative? 2. The government has been trying to discourage the use of plastic bags. Give one negative incentive to achieve that. 3. Give one opportunity cost of watching TV rather than studying. 4. Dexter decides to buy a new smartphone and offset the cost by selling his old phone to one of his...
1. “You are the best student in the class. You can get into Harvard." Which part of the statement is positive? Which part of the statement is normative? 2. The government has been trying to discourage the use of plastic bags. Give one negative incentive to achieve that. 3. Give one opportunity cost of watching TV rather than studying. 4. Dexter decides to buy a new smartphone and offset the cost by selling his old phone to one of his...
1. “You are the best student in the class. You can get into Harvard.” Which part of the statement is positive? Which part of the statement is normative? 2. The government has been trying to discourage the use of plastic bags. Give one negative incentive to achieve that. 3. Give one opportunity cost of watching TV rather than studying. 4. Dexter decides to buy a new smartphone and offset the cost by selling his old phone to one of...
Class: (Winter 2020) $ 6000 2. Suppose you have a choice of working full-time tuition and books are $2,200. If you worked, you e of working full-time during the summer or going full-time to summer school. Summer regardless of your choice. If these are the only rele are $2,200. If you worked, you could make $7,000. Your rent is $1,000 for the summer, summer school is: ce. If these are the only relevant costs to consider, the opportunity cost of...
just need the answer of question 4th Chan Applying Economic Concepts 1-1 (p. 6). The Opportunity Cost of Your University Degree The opportunity cost of choosing one thing is that you would have received had vou taken that job what must be given up as the best alternative Computing Suppose your aller-tax) annual earnings would have the opportunity cost of a college or university education been $25 000 per year, for a total of 100 000 if you had is...
In C++ Assignment 8 - Test Scores Be sure to read through Chapter 10 before starting this assignment. Your job is to write a program to process test scores for a class. Input Data You will input a test grade (integer value) for each student in a class. Validation Tests are graded on a 100 point scale with a 5 point bonus question. So a valid grade should be 0 through 105, inclusive. Processing Your program should work for any...