When computing the opportunity cost of attending a concert you should include the price you pay...
- When computing the opportunity cost of attending a concert you
should include
- the price you pay for the ticket and the value of your time.
- the price you pay for the ticket, but not the value of your time.
- the value of your time, but not the price you pay for the ticket.
- neither the price of the ticket nor the value of your time.
Homework Answers
ANSWER OF THE ABOVE ASKED QUESTION IS OPTION " a " that is
- the price you pay for the ticket and the value of your time .
MEANING OF OPPORTUNITY COST
A profit of something that must given up to obtain or attain something else .
Add Answer to:
When computing the opportunity cost of attending a concert you
should include
the price you pay...
Paul is considering attending a concert. He estimates the ticket price will be $86, and the...
Paul is considering attending a concert. He estimates the ticket price will be $86, and the cost of driving to the concert and parking will total an additional $28. In order to attend the concert, Paul will have to take time off from his part-time job. He estimates that he will lose 4 hours at work, at a wage of $13.39 per hour. What is Paul's opportunity cost of attending the concert? Enter a number rounded to two decimal places.
Paul is considering attending a concert. He estimates the ticket price will be $99, and the...
Paul is considering attending a concert. He estimates the ticket price will be $99, and the cost of driving to the concert and parking will total an additional $23. In order to attend the concert, Paul will have to take time off from his part-time job. He estimates that he will lose 4 hours at work, at a wage of $11.49 per hour. What is Paul's opportunity cost of attending the concert? Enter a number rounded to two decimal places
Tonight is a concert night. Three concerts – a classical music concert, a country music concert,...
Tonight is a concert night. Three concerts – a classical music concert, a country music concert, and a rock music concert -- take place at the same time. You consider going to one of them. Suppose the ticket price of the classical concert is $80 and your willingness to pay is $100; the ticket price of the country music concert is $50 and your willingness to pay is $80; the ticket price of the rock music concert is $50 and...
The graph illustrates the market for concert tickets Price (dollars per concert ticket) Suppose the current...
The graph illustrates the market for concert tickets Price (dollars per concert ticket) Suppose the current price of a concert ticket is $30 and 3 million concert tickets a year are bought. What do you predict will happen to the price of a concert ticket? O A. The shortage of concert tickets forces the price up. O B. It is impossible to say what will happen to the price of a concert ticket. O C. The price will not change...
It’s Friday night. You already have a ticket to a concert, which cost you $30. A...
It’s Friday night. You already have a ticket to a concert, which
cost you $30. A friend invites you to go out for a game of
paintball instead. Admission would cost you $25, and you think
you’d get $25 worth of enjoyment out of it. Your ticket is
nonrefundable.
Question 5 (of 10) to a concert, which cost you $30. A friend invites you to go out for a game of paintball inste ble. g paintball V (Click to select)...
Define opportunity cost. What is the opportunity cost to you of attending college? What was your...
Define opportunity cost. What is the opportunity cost to you of attending college? What was your opportunity cost of doing this test today? 6. If there is a new breakthrough in manufacturing technology that reduces the cost of producing cell phones by half, what will happen the following four parts of supply and demand: supply of cellphones demand for cellphones price and sale (quantity sold) of cellphones demand for cellphones apps For full credit, explain in detail what happens in...
Question 51 167 pts Paul is considering attending a concert. He estimates the ticket price will...
Question 51 167 pts Paul is considering attending a concert. He estimates the ticket price will be $90, and the cost of driving to the concert and parking will total an additional $22. In order to attend the concert, Paul will have to take time off from his part-time job. He estimates that he will lose 4 hours at work, at a wage of $10.87 per hour. What is Paul's opportunity cost of attending the concert? Enter a number rounded...
1.a) What is opportunity cost? (write down the definition) 1.b) You won a free ticket to...
1.a) What is opportunity cost? (write down the definition) 1.b) You won a free ticket to see singer X's concert (which has no resale value). Singer Y is performing on the same night and is your next-best alternative activity. Tickets to see Y cost $40. On any given day, you would be willing to pay up to $50 to see Y. Assume there are no other costs of seeing either performer. Based on this information, what is the opportunity cost...
How would I go about answering/explaining this question? Opportunity cost is the value of the next...
How would I go about answering/explaining this
question?
Opportunity cost is the value of the next best alternative in a decision. Imagine that you have $150 to see a concert. You can either see "Hot Stuff" or you can see "Good Times Band." Assume that you value Hot Stuff's concert at $225 and Good Times' concert at $150. Both concerts cost $150 per ticket, but it would take you a couple of hours to drive to Hot Stuff's concert and...
price be The average ticket price for a concert at the opera house was $30. The...
price be The average ticket price for a concert at the opera house was $30. The average attendance was 2500. When the che price was raised to $35, attendance declined to an average of 2000 persons per performance. What should the to maximize revenue for the opera house? (Assume a linear demand curve) To make revenue, the price should be perticket. Type an integer or decimal rounded to two decimal places as needed. Simply your answer.)
Paul is considering attending a concert. He estimates the ticket price will be $99, and the cost of driving to the concert and parking will total an additional $23. In order to attend the concert, Paul will have to take time off from his part-time job. He estimates that he will lose 4 hours at work, at a wage of $11.49 per hour. What is Paul's opportunity cost of attending the concert? Enter a number rounded to two decimal places
The graph illustrates the market for concert tickets Price (dollars per concert ticket) Suppose the current price of a concert ticket is $30 and 3 million concert tickets a year are bought. What do you predict will happen to the price of a concert ticket? O A. The shortage of concert tickets forces the price up. O B. It is impossible to say what will happen to the price of a concert ticket. O C. The price will not change...
It’s Friday night. You already have a ticket to a concert, which
cost you $30. A friend invites you to go out for a game of
paintball instead. Admission would cost you $25, and you think
you’d get $25 worth of enjoyment out of it. Your ticket is
nonrefundable.
Question 5 (of 10) to a concert, which cost you $30. A friend invites you to go out for a game of paintball inste ble. g paintball V (Click to select)...
Question 51 167 pts Paul is considering attending a concert. He estimates the ticket price will be $90, and the cost of driving to the concert and parking will total an additional $22. In order to attend the concert, Paul will have to take time off from his part-time job. He estimates that he will lose 4 hours at work, at a wage of $10.87 per hour. What is Paul's opportunity cost of attending the concert? Enter a number rounded...
1.a) What is opportunity cost? (write down the definition) 1.b) You won a free ticket to see singer X's concert (which has no resale value). Singer Y is performing on the same night and is your next-best alternative activity. Tickets to see Y cost $40. On any given day, you would be willing to pay up to $50 to see Y. Assume there are no other costs of seeing either performer. Based on this information, what is the opportunity cost...
How would I go about answering/explaining this
question?
Opportunity cost is the value of the next best alternative in a decision. Imagine that you have $150 to see a concert. You can either see "Hot Stuff" or you can see "Good Times Band." Assume that you value Hot Stuff's concert at $225 and Good Times' concert at $150. Both concerts cost $150 per ticket, but it would take you a couple of hours to drive to Hot Stuff's concert and...
price be The average ticket price for a concert at the opera house was $30. The average attendance was 2500. When the che price was raised to $35, attendance declined to an average of 2000 persons per performance. What should the to maximize revenue for the opera house? (Assume a linear demand curve) To make revenue, the price should be perticket. Type an integer or decimal rounded to two decimal places as needed. Simply your answer.)
Most questions answered within 3 hours.
-
Evaluate a specific listening situation using the Sapir-Whorf
and Bernstein hypothesis. What was thecontext? What was...
asked 4 minutes ago -
Recall that if X is a Student’s t random variable with n df,
then by definition...
asked 22 minutes ago -
A charge of -2.95 µC is fixed in place. From a horizontal
distance of 0.0470 m,...
asked 19 minutes ago -
Consider the following information:
Your company makes widgets. You are trying to figure out what
volume...
asked 21 minutes ago -
Math 333 Plz help ASAP
The yield of a chemical process is being studied. From previous...
asked 37 minutes ago -
Cobb-Douglas Preferences: Cobb-Douglas preferences on the
consump-
tion set R2+ can be represented by a utility...
asked 33 minutes ago -
In your experience, what are some of the barriers to the
successful implementation of a project?...
asked 36 minutes ago -
1. A normal distribution has a mean of
μ = 60 and a standard deviation
of...
asked 38 minutes ago -
The size of your Social Security benefits is determined by:
(select all that apply) Question 1...
asked 51 minutes ago -
Starch polymers are broken down by enzymes into monomers
called:
a.)maltose
b.) dextrins
c.) glucose
d.)...
asked 57 minutes ago -
How does HA (High Availability) work and name two ways it can
help an organization?
asked 59 minutes ago -
Saginaw Company is a garden products wholesale firm. In
December, Saginaw Company expects to sell 26,000...
asked 59 minutes ago