subject
Business, 13.01.2021 14:00 kyle65

The economic problem means that, both individually and socially, we must make choices and that all choices have costs. Economists understand that costs are not only those that we pay in money (“explicit costs”), but also the costs of the things that we give up to get what we want (“implicit costs”). Let’s say that you have the choice of going to a movie for three hours with your friends (which costs a total of $15 for the ticket and snacks) OR you can babysit for the same time for $10 an hour. You choose to babysit. What are the TOTAL costs of this decision to you (don’t forget, costs are more than money, they are what you give up)? (Name and describe at least four.)

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 17:10, maehardy4134
Acompany manufactures hair dryers. it buys some of the components, but it makes the heating element, which it can produce at the rate of 920 per day. hair dryers are assembled daily, 250 days a year, at a rate of 360 per day. because of the disparity between the production and usage rates, the heating elements are periodically produced in batches of 2,300 units. a. approximately how many batches of heating elements are produced annually? b. if production on a batch begins when there is no inventory of heating elements on hand, how much inventory will be on hand 4 days later? c. what is the average inventory of elements, assuming each production cycle begins when there are none on hand?
Answers: 1
image
Business, 22.06.2019 04:30, divagothboi
How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )
Answers: 3
image
Business, 22.06.2019 11:10, allieallie
Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.
Answers: 1
image
Business, 22.06.2019 14:20, kevinglvz
Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?
Answers: 1
You know the right answer?
The economic problem means that, both individually and socially, we must make choices and that all c...

Questions in other subjects:

Konu
History, 02.02.2021 21:10
Konu
Chemistry, 02.02.2021 21:10