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

Author Question: The concept of opportunity cost (Read 74 times)

cherise1989

  • Hero Member
  • *****
  • Posts: 555
on: Apr 19, 2019

Question 1

You have decided that you want to attend a costume party as Iron Man. You estimate that it will cost $40 to assemble your costume. After spending $40 on the costume, you realize that the additional pieces you need will cost you $25 more. The marginal cost of completing the costume is


◦ $15.
◦ $25.
◦ $40.
◦ $65.

Question 2

The concept of opportunity cost


◦ is relevant only to economics.
◦ can be applied to the analysis of any decision-making process.
◦ applies to consumers but not to firms.
◦ refers only to actual payments and incomes.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by cherise1989 on Apr 19, 2019

lgoldst9

  • Sr. Member
  • ****
  • Posts: 372
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


cherise1989

  • Member
  • Posts: 555
Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

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 Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr
Concept of Birth by Children Concept of Birth by Children
The Concept of Water Balance The Concept of Water Balance
Biology Concept Framework Biology Concept Framework
question in cost accounting question in cost accounting
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Video: Structures that affect circulation - kidneys and blood volume and skeletal muscle pumping

For a complete list of videos, visit our video library