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Hello i Have 3 questions with solutions on cost opportunity, I would like to have DETAILED EXPLANATION and formulas on how to solve he problem...
Hello i Have 3 questions with solutions on cost opportunity, I would like to have DETAILED EXPLANATION and formulas on how to solve he problem related to key concepts.
Thank you
1) 2-11
"If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $10 per hour." The opportunity cost of attending class this evening is:
a) $40
b) $0
c) $4
d) $44
2) 2-13
Referring to Table 2-1: A student has only a few hours to prepare for two different exams this afternoon. The above table shows alternative possible exam scores with three alternative uses of the student's time. The opportunity cost of scoring a 94 on the economics exam rather than a 77 is:
a) 14 points on the history exam.
b) 8 points on the history exam.
c) 15 points on the history exam.
d) 17 points on the history exam.
3) 2-14
Refer to Table 2-1. A student has only a few hours to prepare for two different exams tomorrow morning. The above table shows alternative possible exam outcomes with three alternative uses of the student's time. The opportunity cost of scoring an 84 on the history exam rather than 76 is:
Possibility A Economics History
Possibility A Economics History
Possibility A Economics History
a) 7 points on the economics exam
b) 10 points on the economics exam
c) 8 points on the history exam
d) 12 points on the economics exam