This topic contains a solution. Click here to go to the answer

Author Question: The term opportunity cost suggests that a. in any exchange situation where one person gains, ... (Read 22 times)

ARLKQ

  • Hero Member
  • *****
  • Posts: 571
The term opportunity cost suggests that
 a. in any exchange situation where one person gains, someone else must lose
  b. not all individuals make the most of life's opportunities
  c. executives do not always recognize opportunities for profit as quickly as they should
  d. the only factor that is important in decision making is cost
  e. because goods are scarce, in order to get some good you must give up some other good in return

Question 2

A test was scheduled for Monday morning, but you went to a party on Saturday night. If you hadn't attended the party, you could have studied for the test or gone to a movie. Which of the following is true?
 a. The opportunity cost of going to the movie is studying for the test.
  b. The opportunity cost of going to the party is the movie.
  c. The opportunity cost of going to the party is both the movie and the study time.
  d. Because you could go to the party only that night but could go to a movie any time, the opportunity cost of the party is the study time.
  e. From the above information, it's not possible to determine the opportunity cost of attending the party.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jsherida

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

E

Answer to Question 2

E




ARLKQ

  • Member
  • Posts: 571
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it


Missbam101

  • Member
  • Posts: 341
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

For a complete list of videos, visit our video library