What is the opportunity cost of josephines trip

Assignment Help International Economics
Reference no: EM13191396

Josephine makes $100 a day as a flower shop attendant. She takes off two days of work without pay to travel to another city to attend her sister's wedding. The cost of transportation for the trip is $180 round trip. The cost of her hotel stay is $99 per night and she stays for 2 nights. What is the opportunity cost of Josephine's trip to the wedding?

Reference no: EM13191396

Questions Cloud

State chemeical equation for the reaction of magnesium metal : the balanced chemeical equation for the reaction of magnesium metal in oxygen gas and for the rection of magnesium metal in nitrogen gas
State degrees celcius the entropy change of the system : When 2.05 moles of a monoatomic ideal gas is reversibly heated at constant volume from 25 degrees celcius to 45 degrees celcius the entropy change of the system
What risks are inherent in the adjustments : Based on the reading assigned for this module, and your own Internet research, what adjustments are required for China to rebalance its current account. What risks are inherent in such adjustments
Compute the concentration of the amino acid : No inflection points were observed with the HCl titrations but two were observed in the titration with NaOH. One occurred after 3.29 mL of titrant had been added and another after a total of 18.61 mL of NaOH had been added. Calculate the concentr..
What is the opportunity cost of josephines trip : Josephine makes $100 a day as a flower shop attendant. She takes off two days of work without pay to travel to another city to attend her sister's wedding. The cost of transportation for the trip is $180 round trip.
Explain hcl and naoh are a strong acid and base : Because HCl and NaOH are a strong acid and base respectively, they dissociate completely and the pH of the solution is dependent only on the excess acid or base in the beaker at that point in the titration.
Difference between consumer demand or its optimal level : The company selling the good starts an advertisement campagin that has the following effect on the consumer: he makes decisions as if maximizing a decision utility function given by ..
Explain ir of benzpinacol and to what carbon group : IR of Benzpinacol and to what carbon, proton, or functional group (respectively) would each peak belong?
Benefit of addtional work is measurable as change in what : work decisions are based upon a comparison of priviate cost and the private benefit. The excludedable benefit of addtional work is measurable as the change in what options - income less transfer payments lost, gross income, net tax payments, adjus..

Reviews

Write a Review

International Economics Questions & Answers

  Effect of free trade on environment

Environmentalists discuss that the trade liberalization harms the environment. The decisions of World Trade Organization in particular have been the subject of much criticism.

  Describe fastest-growing and richest regions in europe

And how about linking eastern Denmark more directly with Germany's Baltic Sea coastline, enabling Danes to go by train from their capital to Berlin in, say, three hours? Despite the Danes' nej to the euro, it is still a fair bet that this last muc..

  Why prices of short term us treasury securities are high

In the same context of Q6 above, briefly explain why the prices of Short Term US treasury securities are still high enough to keep the interest low enough despite the fact that the US Bond rating has been downgraded from AAA status to AA+ by S&P i..

  Describing a policy issue under consideration by usa federal

Describing a policy issue currently under consideration by the USA federal, state, or local government. It must be of manageable size, and current. Huge changes in law ( such as the creation of Medicare Parte D or the full implementation of the PP..

  Describe the prisoners dilemma

Consider the following data, and answer the questions given below. China and England are international trade partners. The following data are expected payoffs for two nations.

  Trade in a capital abundant country

Use the specific factors model, describe why you might expect to see certain capital owners and labor groups discussing against developing trade in a capital abundant country.

  Explain wto and gatt

Which of the following situations will arise in the domestic market following the removal of an import quota? a. imports increase, domestic production increases, prices increase b. imports increase, domestic production decreases, prices decrease c. i..

  Increasing social security taxes

Assume that the government wishes to rise Social Security taxes by $1 per hour of work and is undecided between rising the tax on employees and rising the tax on workers.

  Encourage economic growth for the typical firm in hong kong

Which of these methods of encouraging growth would you suggest for the typical company in Hong Kong and Singapore and explain the rationale for your choice.

  Draw a production possibilities curve for mexico

Draw a production possibilities curve for Mexico and use the two above charts to answer the following questions.

  Determine the free trade equilibrium

Determine the free trade equilibrium. Then calculate and graph the following effects of an import quota that limits imports to 50 bags. a. The increase in the domestic price b. The quota rents c. The consumption distortion loss d. The production d..

  Terms of trade for mutually beneficial trade

How much does Korea gain and what is the range for the terms of trade for mutually beneficial trade

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