O/C ASSIGNMENT Calculate the Opportunity Cost (O/C) of completing ECON1 successfully for SPRING 2021? Everything needs to be expressed in $ amounts. (You cannot add $ to the number of hours, hours need to be converted into $) This Opportunity cost (O/C) FOR ECON 1 should include the obvious cost (E. g. Book, Tuition, etc) and hidden cost (value of your time: how many hours per week * 12 weeks: What you will be doing and what it will be worth to you. E. g. Hidden cost is the O/C of time: what kind of uses of your time, e. g. let's say you spend 100 hours (In 12 weeks) to finish the Econ 1 class successfully. What else could you have done in these 100 hours and how much was that worth to you in $. E. g work for 100 hours , so you multiply with the wage rate. OR It could be 20 hrs of work, 20 hours of sleep, 20 hrs spent with your family and so on. How much is each hour worth, e. g. time spent with family $100 per hour. So 20 * $100 = $2000 and so on.

3. now assume that carnival booked lady antebellum in december 2016 to perform on the june 2017 western caribbean cruise. further assume that carnival pays lady antebellum its entire performance fee of $52,000 on december 28, 2016, for the june 2017 cruise. what journal entry will carnival make on december 28, 2016, for its payment to lady antebellum?

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers. firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?

)a business incurs the following costs per unit: labor $125/unit, materials $45/unit, and rent $250,000/month. if the firm produces 1,000,000 units a month, calculate the following: a. total variable costs b. total fixed costs c. total costs