Which of the Following Is an Example of Opportunity Cost

A A shortage of clean drinking water in a desert region. 1 Which of the following is an example of opportunity costs.

Opportunity Cost Flip Book If I Choose Opportunity Cost Third Grade Social Studies Teaching Economics

Opportunity cost Return on the option not chosen - Return on chosen option.

. B An increase in prices of essential commodities due to a decrease in their supply. The opportunity cost is planting a different crop or an alternate use of the resources land and farm equipment. Economics questions and answers.

Which of the following is an example of opportunity cost. Renting an apartment near school b. Out of Select one a Because David used all his savings to paint his house he was unable to go for a vacation last year By choosing to attend college Jean was not able to continue working as an electrician as a resun she gave up more than sos.

Which of the following would be an example of opportunity cost. Economics questions and answers. An example of a personal opportunity cost would be Time comparing several brands of personal computers.

Using a personal computer for financial planning. The foregone 15000 is an example of what. What is an example of opportunity cost in your life.

The market value for the inputs a firm uses in production is the. We can also that the opportunity cost of producing 20 and set them up in the following Another example of a change in the PPF shows the tradeoff We can also that the opportunity cost of producing 20 and set them up in the following Another example of a change in the PPF shows the tradeoff. Saving money instead of taking a vacation c.

Which of the following is an example of an opportunity cost. C Choosing to buy a bike instead of a car. Purchasing automobile insurance e.

Its possible that if you dont choose to invest you could lose 20000. Selling Stocks now and 2 months later. Celeste is currently working in the Audit Division of a large Big 4 firm and drawing an Annual Pay of 50000.

Which of the following is an example of opportunity cost. For example we may purchase a Croissant on the way to work. His opportunity cost for doing it himself is the lost wages for four hours or 1600.

Option B is wrong because the. If he decides to do it himself it will take four hours. Top 7 Examples of Opportunity Cost.

The leisure time sacrificed to study for an exam. Paying off debt Versus Spending on Welfare by the government. 12 Which of the following is not an example of an opportunity cost that is also an implicit cost.

Organizing income tax records d. A farmer chooses to plant wheat. The income which could have been earned by a college student had he or she worked full time instead of attending college.

Opportunity cost 55000 - 75000. Example 4 Study Related Opportunity Cost Example. Which of the following is an example of opportunity cost.

Product cost per kayak totals500 which consists of 400 in variable production cost and100 in fixed production costthe latter amount is based on 105000 of fixed production costs allocated to the 1050 kayaks produced. We choose this over having breakfast at home or sitting down in a restaurant for a full breakfast. If for example you spend time and money going to a movie you cannot spend that time at home reading a book and you cant spend the money on something else.

A publisher introduces a new textbook which reduces sales of one of their existing textbooks. She plans to pursue her MBA from Wharton which will cost her 100000 and she will have to stay without work for 2 years as its a full-time course. The tuition fees paid to a university.

The230000 in selling and administrative expense consists of 75000 that is variable and155000 that is fixed. Presumably the present sacrifice yields a future benefit of better health and more enjoyment of leisure activities since he will be in better physical condition. ANSWER- OPTION A and D EXPLANATION- Examples of opportunity costs are as follows.

Saving money instead of taking a vacation is an example of the opportunity cost because it is is always leading to missing of an opportunity in case of availing of. A the value of the business owners time B lease payments for the building in which the firm operates C forgone labor earnings for an entrepreneur forgone interest payments when the money is invested in ones business. Which of the following best describes the concept of the time value of money.

A croissant is cheaper than a restaurant lunch but more expensive than breakfast at home. Entrepreneurship versus steady job. When economists refer to the opportunity cost of a resource they mean the value of the next-highest-valued alternative use of that resource.

All of the following are examples of opportunity cost except. This forgone 15000 is one of the implicit opportunity costs of Carolines business. Explore your next job opportunity on Indeed Find jobs.

Brown makes 400 an hour as an attorney and is considering paying someone 1000 to paint his house. Apples investment in the iTunes music store. If you decide not to go to work the opportunity cost is the lost wages.

Opportunity cost -20000. Which of the following is an example of a financial. A firm has land that can be used in building a new store.

Hear this out loudPauseThe opportunity cost is time spent studying and that money to spend on something else. A commuter takes the train to work instead of driving. N21 Which of the following is NOT an example of an opportunity cost.

What is an opportunity cost example. With these examples you can see what opportunity cost means and how it can apply in different situations. D The high rates of rare gems due to their limited availability.

The following Opportunity Cost Examples provide an outline of the most common Opportunity Cost. Option A is accurate because the cost of production components for a given product is an example of opportunity cost. The amount a firm receives for the sale of its output is the.

For Frank the opportunity costs are the alternative uses of time spent now working out and the forgone pleasure of consuming foods that are not part of the diet. If the new store is not built the firm could sell the land for 2 million net of taxes. When the government spends 15 billion on interest for the national debt the opportunity cost is the programs the money might have been spent on like education or healthcare.

12 Ways To Make Better Decisions. The decline in the grades of a student athlete that occurs because she decides to spend more time practicing sports than on her academic work. The income that could have been earned by working full-time instead of going to college.

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