Considered opportunity costs, Macroeconomics

Assignment Help:

Gasoline, insurance, depreciation, and repairs are all costs of owning a car. Which of these can be considered opportunity costs in the context of each of the following decisions?
a. You own a car and are deciding whether to drive 100 miles for a weekend visit to a friend at another university.
b. You do not own a car but are considering buying one so that you can get a part-time job located 5 miles from where you live.
In general, why does the context in which you decide to do something affect the opportunity cost of doing it?


Related Discussions:- Considered opportunity costs

Find real interest rate and nominal interest rate, Assume that an economy's...

Assume that an economy's GDP Y=5000. Also assume that the government runs a deficit where tax revenue T=1000 and government expendituresG= 1500. The consumption function is represe

State the both overnight target rates and inflation, Overnight target rates...

Overnight target rates and inflation One of the main targets of every central bank is a low and stable inflation. It's main control variable is the overnight interest rate targ

Survivor Island, the central economic problem facing the group of survivors...

the central economic problem facing the group of survivors

Sustainability of current account deficit, Sustainability of Current Accoun...

Sustainability of Current Account Deficit: Theoretically speaking, a current account deficit can be sustained as long as the growth rate of national income exceeds the rate of

Calculate asset turnover, The following information has been extracted from...

The following information has been extracted from the recently published accounts of Noddy Plc:                           Balance sheet as at 31 st May

Graph of supply and demand, Draw the supply and demand graph for pizza, the...

Draw the supply and demand graph for pizza, then answer the questions below. SUPPLY OF AND DEMAND FOR PIZZA Quantity Supplied Price Quantity Demanded 300 $15.00 100 240 12.00 180 1

Abnormal profits, explain the terms abnormal profits and normal profits

explain the terms abnormal profits and normal profits

Describe how exchange rate is expressed, Describe how exchange rate is expr...

Describe how exchange rate is expressed in some nation In some nations, exchange rate is expressed using home currency as base currency. In UK for instance, Danish exchange rat

Price elasticity of demand is computed for two products, if the price elast...

if the price elasticity of demand is computed for two products, and product A measures .79 , and product B measures 1.6 , then ? a. product A is more price elastic than product

Write Your Message!

Captcha
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