This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose that the alternative uses of an hour of your time in the evening, ranked from best to worst, ... (Read 163 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
on: Jun 30, 2018
Suppose that the alternative uses of an hour of your time in the evening, ranked from best to worst, are (1) study economics, (2i) watch two half-hour TV sitcoms, (3) play pool, and (4) jog around town. You can only choose one activity. What is the opportunity cost of studying economics for one hour, given this information?
 a. Jogging around town.
 b. Watching two half-hour TV sitcoms.
 c. Playing pool.
 d. The sum of watching two half-hour TV sitcoms, playing pool, and doing your laundry.

Question 2

A good or service that is forgone by choosing one alternative over another is called a(n):
 a. explicit cost. b. opportunity cost.
  c. historical cost. d. accounting cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


xroflmao

  • Hero Member
  • *****
  • Posts: 515
Reply #2 on: Jun 30, 2018
Thank you :)


Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Although average brain size increases gradually though time in H. erectus, individuals with small br Although average brain size increases gradually though time in H. erectus, individuals with small br
Gossip and ridicule increase the status insecurity of this time of life. Gossip and ridicule increase the status insecurity of this time of life.
In middle childhood, children spend increasing amounts of time with peers and friends. In middle childhood, children spend increasing amounts of time with peers and friends.
An Alternative Model of Global Stratification An Alternative Model of Global Stratification
Disitive Time For Milk Products Disitive Time For Milk Products
The Cosmic Calendar: Concepts of Time The Cosmic Calendar: Concepts of Time
Video: Passive Smoke Exposure

For a complete list of videos, visit our video library