Choose the correct statement: A. The opportunity cost of an activity is constant, regardless of the...
Choose the correct statement:
A.
The opportunity cost of an activity is constant, regardless of the time of day at which you pursue the activity
B.
The opportunity cost of an activity you do not enjoy is zero.
C.
The opportunity cost of doing more of an activity is the opportunity cost of the activity.
D.
The opportunity cost of something is the highest-valued alternative that must be given up to get it.
Homework Answers
D is correct
The opportunity cost of something is the highest valued alternative that must be given up to get it.
Add Answer to:
Choose the correct statement:
A.
The opportunity cost of an activity is constant, regardless of
the...
4. Economists measure "cost" as the full "opportunity cost" (op cost) associated with any given use...
4. Economists measure "cost" as the full "opportunity cost" (op cost) associated with any given use of some set of resources. "Op cost" is measured as what is forgone by not putting these resources to their next best alternative use (i.e. the benefits that must be forgone elsewhere if the resources in question are to be used for this purpose instead). Suppose you get to a point where doing "one more unit" of something (such as pollution clean-up) incurs opportunity...
accounting cost minus the marginal benefit monetary cost of an activity Question 8 The opportunity cost...
accounting cost minus the marginal benefit monetary cost of an activity Question 8 The opportunity cost of attending college includes the cost of the tuition but it otherwise worked the highest valued alternative to attending college plus the cost of tuition. t studying dthe highest valued Question 9 In terms of dollars, the marginal beneft of working five days a week instead of four days a week is the wages reccived for the fifth day of work
the real cost of aquiring or doing something good is: A. anything that must be given...
the real cost of aquiring or doing something good is: A. anything that must be given up. B. Always stated in the term of dollars. C. The time it takes. D. The next highest alternative preferred alternative that must be forgone. E. All of the above.
6. Scarcity, opportunity cost, and marginal analysis Brian is training for a triathlon, a timed race...
6. Scarcity, opportunity cost, and marginal analysis Brian is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Brian must take time away from work, where he earns $9 per hour. This is in addition to paying a $4 entrance fee for the pool. Which basic principle of individual choice do these statements best illustrate? People usually exploit opportunities to make themselves better off. Markets...
Econ 110 Principles of Macroeconomics Spring 2020 HW2 1. The opportunity cost of an economic model...
Econ 110 Principles of Macroeconomics Spring 2020 HW2 1. The opportunity cost of an economic model is known as the: measureinent of time. variables that can be included. measurement of money and time. exclusion of real-world complications, 2. The is an economic model that shows the limit of what an economy can produce when all resources are used efficiently. circular flow inodel production possibilities frontier model opportunity cost model law of increasing costs Video Games (thousands per day) 2 9...
6. Scarcity, opportunity cost, and marginal analysis Alyssa is training for a triathlon, a timed race...
6. Scarcity, opportunity cost, and marginal analysis Alyssa is training for a triathlon, a timed race that combines swimming, biking, and running Consider the following sentence: In order to swim for an hour, Alyssa must take time away from work, where she earns $10 per hour. This is in addition to paying a $5 entrance fee for the pool Which basic principle of individual choice do these statements best illustrate? People usually exploit opportunities to make themselves better off O...
1 Which of the following is true? opportunity cost can be measured by the slope of...
1 Which of the following is true? opportunity cost can be measured by the slope of the PPC curve (frontier) productive or technical efficiency occurs anywhere on the production possibilities curve allocative efficiency occurs at a specific point (i.e. a specific mix of production) on the production possibilities curve (frontier) that is valued above all alternatives. all of the answers are correct none of the answers are correct 2 The opportunity cost of a good is the same as its...
Back to Assignment Attempts: Average: /1 6. Scarcity, opportunity cost, and marginal analysis Edison is training...
Back to Assignment Attempts: Average: /1 6. Scarcity, opportunity cost, and marginal analysis Edison is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Edison must take time avay f to paying a $5 entrance fee for the pool. from work, where he earns $11 per hour. This is in addition Which basic principle of individual choice do these statements best llustrate? O The cost...
12) The term that means the highest valued alternative given up when a person chooses to...
12) The term that means the highest valued alternative given up when a person chooses to engage in an activity is: 12) A) dollar cost. B) accounting cost. C) opportunity cost. D) explicit cost. 13) Scarcity: 13)_ A) is only a problem when a country has too large a population. B) is not a problem for the wealthy C) is due to unlimited wants and limited resources. D) all of the above 15) If your tuition for this term is...
just need the answer of question 4th Chan Applying Economic Concepts 1-1 (p. 6). The Opportunity...
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...
4. Economists measure "cost" as the full "opportunity cost" (op cost) associated with any given use of some set of resources. "Op cost" is measured as what is forgone by not putting these resources to their next best alternative use (i.e. the benefits that must be forgone elsewhere if the resources in question are to be used for this purpose instead). Suppose you get to a point where doing "one more unit" of something (such as pollution clean-up) incurs opportunity...
accounting cost minus the marginal benefit monetary cost of an activity Question 8 The opportunity cost of attending college includes the cost of the tuition but it otherwise worked the highest valued alternative to attending college plus the cost of tuition. t studying dthe highest valued Question 9 In terms of dollars, the marginal beneft of working five days a week instead of four days a week is the wages reccived for the fifth day of work
Econ 110 Principles of Macroeconomics Spring 2020 HW2 1. The opportunity cost of an economic model is known as the: measureinent of time. variables that can be included. measurement of money and time. exclusion of real-world complications, 2. The is an economic model that shows the limit of what an economy can produce when all resources are used efficiently. circular flow inodel production possibilities frontier model opportunity cost model law of increasing costs Video Games (thousands per day) 2 9...
6. Scarcity, opportunity cost, and marginal analysis Alyssa is training for a triathlon, a timed race that combines swimming, biking, and running Consider the following sentence: In order to swim for an hour, Alyssa must take time away from work, where she earns $10 per hour. This is in addition to paying a $5 entrance fee for the pool Which basic principle of individual choice do these statements best illustrate? People usually exploit opportunities to make themselves better off O...
Back to Assignment Attempts: Average: /1 6. Scarcity, opportunity cost, and marginal analysis Edison is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Edison must take time avay f to paying a $5 entrance fee for the pool. from work, where he earns $11 per hour. This is in addition Which basic principle of individual choice do these statements best llustrate? O The cost...
12) The term that means the highest valued alternative given up when a person chooses to engage in an activity is: 12) A) dollar cost. B) accounting cost. C) opportunity cost. D) explicit cost. 13) Scarcity: 13)_ A) is only a problem when a country has too large a population. B) is not a problem for the wealthy C) is due to unlimited wants and limited resources. D) all of the above 15) If your tuition for this term is...
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...
Most questions answered within 3 hours.
-
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 20 minutes ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 1 hour ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 3 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 4 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 5 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 7 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 6 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 7 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 7 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 7 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 7 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 7 hours ago