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

Author Question: Sue is taking an accounting job she was offered that pays 67,000 per year. She also had two other ... (Read 77 times)

s.tung

  • Hero Member
  • *****
  • Posts: 577
on: Jul 1, 2018
Sue is taking an accounting job she was offered that pays 67,000 per year. She also had two other offers, a sales job paying 71,000 per year and a marketing job paying 65,000 per year. What is Sue's opportunity cost of taking the accounting job?
 
  A) 65,000
  B) 67,000
  C) 71,000
  D) 136,000

Question 2

Explain the difference between the marginal rate of substitution and the marginal rate of transformation.
 
  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

efwsefaw

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

The marginal rate of substitution is a consumer's willingness to trade one good for another based on utility. The marginal rate of transformation is the consumer's ability to trade one good for another based on prices.


s.tung

  • Member
  • Posts: 577
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

mochi09

  • Member
  • Posts: 335
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Rate of Residential Change, Past Year, in the United States Rate of Residential Change, Past Year, in the United States
Many former slaves understood that illiteracy was an implement of bondage. The Freedmen’s Bureau bui Many former slaves understood that illiteracy was an implement of bondage. The Freedmen’s Bureau bui
Infant: 4 weeks to 1 year. Infant: 4 weeks to 1 year.
Accounting (Making Entries) Accounting (Making Entries)
You deposit $2000 each year into an account earning 4% interest compounded annually. How much ... You deposit $2000 each year into an account earning 4% interest compounded annually. How much ...
Video: How to make cDNA Animation

For a complete list of videos, visit our video library