Soo Jin shares a one-bedroom apartment with her classmate. Her share of the rent is $700 per month. She is considering moving to a studio apartment which she will not have to share with anyone. The studio apartment rents for $950 per month. Recently, you ran into Soo Jin on campus and she tells you that she has moved into the studio apartment. Soo Jin is as rational as any other person. As an economics major, you rightly conclude that ...
1) Soo Jin did not have a choice; her roommate was a slob.
2) Soo Jin figures that the additional benefit of having her own place (as opposed to sharing) is at least $250.
3) Soo Jin figures that the benefit of having her own place (as opposed to sharing) is at least $950.
4) The cost of having one's own space outweighs the benefits.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Soo Jin shares a one-bedroom apartment with her classmate. Her share of the rent is $700 per month. She is considering moving to a studio ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Is a type of scam that uses spoofed domain names to obtain personal information for use in fraudulent activities?
Answers (1)
What are the central concerns of economics? A) How to get money and how to keep it. B) Resource use, production, and distribution of goods and services. C) Making decisions about who owns what and how they got it.
Answers (1)
using the information below compute the cycle efficiencyDays' sales in accounts receivable 15daysDays' sales in inventory 72daysDays' payable outstanding 35days (A) 51 days. (B) 87 days. (C) 37 days. (D) 52 days. (E) O 63 days.
Answers (2)
Which of the following represent plans developed at the organization's lower levels that specify action steps toward achieving operational goals and that support tactical planning activities?
Answers (1)
A pegged exchange rate means the value of the currency is fixed relative to a reference currency
Answers (1)
New Questions in Business
Match the business with the appropriate cost system (s) for that business using the number of the cost system where 1 = job order costing, 2 = process costing, and 3 = activity-based costing. a. Ketcher, Tryer, and Friar, attorneys-at-law b.
Answers (1)
Solemon Company has total fixed cost of $15,000, variable cost per unit of $6, and a price of $8. If Solemon wants to earn a targeted profit of $3,600, how many units must be sold?
Answers (1)
Using the following information, what is the amount of net income? Purchases $ 33,189 Selling expenses $ 758 Merchandise inventory, September 1 7,436 Merchandise inventory, September 30 8,978 Administrative expenses 760 Sales 51,684 Rent revenue 832
Answers (1)
You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs. O True O False
Answers (1)
K Inc. has provided the following data for the month of May: Inventories: Beginning Ending Work in process $ 17,000 $ 12,000 Finished goods $ 46,000 $ 50,000 Additional information: Direct materials $ 57,000 Direct labor cost $ 87,000 Manufacturing
Answers (1)