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

Author Question: Refer to Table 2-8. What is Betty's opportunity cost of making a bench? A) 1/2 of a statue B) 2.8 ... (Read 84 times)

ashley

  • Hero Member
  • *****
  • Posts: 584
on: Jun 29, 2018
Refer to Table 2-8. What is Betty's opportunity cost of making a bench?
 
  A) 1/2 of a statue B) 2.8 statues C) 1.75 benches D) 2 statues

Question 2

Some people choose to live close to the city center; others choose to live away from the city and take a longer commute to work every day. Does picking a location with a longer commute imply a failure to optimize?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

shayla

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

People will choose where to live depending on the costs and benefits of each available alternative. For those who choose to live in an apartment away from the central business district, the net benefit of that apartment must be higher than the net benefit from other apartments. Since costs include the opportunity cost of time and the cost of commuting, the direct and indirect costs vary for different people. This does not mean that they are not optimizing; they have different preferences and face different costs. As a result, they make different decisions.


ashley

  • Member
  • Posts: 584
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

carojassy25

  • Member
  • Posts: 299
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

For millions of people, the United States represents a land of opportunity and freedom from ... For millions of people, the United States represents a land of opportunity and freedom from ...
Stand at the side of the table facing the head. Apply lubricant with effleurage from ankle to hip ... Stand at the side of the table facing the head. Apply lubricant with effleurage from ankle to hip ...
Clear the tarsals, metatarsals, and toes. Stand at the end of the table, support the plantar surface ... Clear the tarsals, metatarsals, and toes. Stand at the end of the table, support the plantar surface ...
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
Go Green: Tips for Making More Sustainable Food Choices Go Green: Tips for Making More Sustainable Food Choices
Table - Correlation Analysis Table - Correlation Analysis
Video: Renin/Angiotensin (water gain from urine & Na ion and water reabsorption)

For a complete list of videos, visit our video library