10) You are faced with the following alternative choices on a Friday night: Choice A: Go to a concert, which costs $30. Choice B: Go to a party at a friend's house. Choice C: Go to the library and study economics. It turns out that Choice A is your most preferred activity, Choice B is your second most preferred activity, and Choice C is your least preferred activity, so naturally, you go to the concert. What is the oportunity cost of going to the concert? A) $30 B) $30 plus missing your friend's party. C) $30 plus missing your friend's party plus not studying economics at the library. D) Missing your friend's party plus not studying economics at the library.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “10) You are faced with the following alternative choices on a Friday night: Choice A: Go to a concert, which costs $30. Choice B: Go to a ...” 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
A strong corporate culture will happen on its own a. True b. False
Answers (1)
The demand for health care in industrially advanced economies is highly elastic: with respect to both price and income highly inelastic with respect to both price and income highly elastic with respect to income but highly inelastic with respect to
Answers (2)
A company produces two kinds of products. A product of the first type requires 1/4 hours of assembly labor, 1/8 hours of testing, and $1.2 worth of raw materials.
Answers (1)
You are considering acquiring a firm that you believe can generate expected cash flows of $11,000 a year forever. However, you recognize that those cash flows are uncertain. a. Suppose you believe that the beta of the firm is. 5.
Answers (1)
A Company's perpetual preferred stock sells for $102.50 per share, and pays a $9.50 annual dividend. If the company were to issue a new preferred issue, a flotation cost of 4.00% would be paid to the investment bankers.
Answers (1)
New Questions in Business
The query is for a POI that you are not familiar with. what do you do in that situation?
Answers (1)
Why do people keep money in transaction accounts?
Answers (1)
Advanced Printing Systems is a firm in a monopolistically competitive market. If its marginal cost is $18 per unit in the short run, if it is maximizing profits, and if it is selling at the equilibrium quantity, what is its marginal revenue?
Answers (1)
Consider a simple economy that produces two goods: pens and oranges. The following table shows the prices and quantities of the goods over a three-year period.
Answers (1)
Which of these would be a result of inflation? A business reports a loss for a tax year. A CEO pays less in taxes than five years ago. A company scales back production. A company increases production as a result of growing demand.
Answers (1)