User Account

All Pages

What is the opportunity cost of decision

Assignment Help Business Economics
Reference no: EM131584714

Tony decided to visit his parent in San Diego during the long weekend. He has two options. Either he can take a flight or carpool with his friends. The flight cost is $200 and it takes 3 hours to reach home. Carpool cost is $100 and he will reach home in 8 hours.

(a) He decides to carpool with his friends. What is the opportunity cost of his decision?

(b) He decides to take a flight. What is the opportunity cost of his decision?

Reference no: EM131584714

Questions Cloud

Overestimate the household demand for insulation : Australian producers invest in new capacity to increase supply but they overestimate the household demand for their insulation materials flowing.
Explain how will the company respond to the media report : If MKD adopts an obstructionist stance, how will the company respond to this media report? Provide one supporting fact.
What is flores net pay : Prior to this week Flores had earned $89,600 for the year. Assuming the social security rate for the employee is 6% and Medicare is 1.5%, what is Flores net pay
What is the opportunity cost of his decision : (a) He decides to carpool with his friends. What is the opportunity cost of his decision? (b) He decides to take a flight. What is the opportunity cost of his
What is the opportunity cost of decision : (a) He decides to carpool with his friends. What is the opportunity cost of his decision? (b) He decides to take a flight. What is the opportunity cost.
Compute the uncollectible account expense : Compute the uncollectible account expense, and make the appropriate journal entry, for the current year assuming the uncollectible account expense
Report the annual depreciation and annual book value : Prepare depreciation schedule to be used for tax purposes for a $998,400 asset with no salvage value and a 10-year recovery period using the 200% declining.
Discuss the induction method : Prove that n! n as long as n = 2. (n! is shorthand for n ·(n-1)·(n-2)· ...3 · 2 · 1.)
What is the budgeted accounts receivable at march : ACCT 116 Budget Assignment. Prepare a Schedule of Expected Cash Collections - What is the budgeted accounts receivable at March 31st

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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