About opportunity costs

Assignment Help Business Economics
Reference no: EM131166537

Answer the following questions about opportunity costs:

a. Define opportunity costs.

b. If you receive a free ticket to an NFL Football game, what is your opportunity cost of attending the game?

c. How does your opportunity cost change if snowy roads lengthen your drive time to and from the game?

Reference no: EM131166537

Questions Cloud

Explain one effect that the two-party system of the us : Discuss one effect that the two-party system of the U.S. has on the political interests of American citizens. Suggest one reason why the two-party system has regulated the emergence and successful contention of a major third party.
How are values communicated and used in your organization : How are values communicated and used in your organization? What approaches are used to ensure alignment around those values?
Compute the diameter dm measured over two opposite pins : In the sketch of a standard gear shown in Fig. 4.27, the teeth are 20° full depth if the pitch diameter is 120 mm and the module is 5, calculate the radius of the pin which contacts the profile at the pitch point. Compute the diameter DM measured ..
Do you agree with nietzsche bleak outlook on egalitarian : Do you agree with his rather bleak outlook on egalitarian ethics (everyone's moral status is more or less equal)? Why or why not?
About opportunity costs : Answer the following questions about opportunity costs: Define opportunity costs. If you receive a free ticket to an NFL Football game, what is your opportunity cost of attending the game?
Shepherding a project or system : Imagine that you are shepherding a project or system through the SDLC. Give an overview of what would happen in each phase of the SDLC. What challenges will you face, and what tasks will you undertake?
Why zoning is effective strategy for managing flood hazards : Describe why zoning is an effective strategy for managing flood hazards. Be specific.
Did scope creep or gold plating occur in this project : Share an example of when you were a part of a project team and how the goal affected the project. If there was not a clear goal, what was the outcome? Did scope creep or gold plating occur in this project? If so, how did it affect the project? If ..
What was the balance of total current liabilities : What was the balance of total current liabilities for the three most recent years of your research? Did this balance trend upward or downward from one year to the next? What account or accounts experienced the largest change

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd