Which Situation Best Describes an Opportunity Cost Apex

Which best describes what production accomplishes. Wages drop so that workers have to spend a higher percentage of income on the cost of necessaities C.

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. Question 3 of 10 Which situation best describes an opportunity cost. Unlock all answers Please join to get access. Opportunity costs are the costs of an economic choice expressed in terms of the best missed opportunity.

When their insurance policy only covers part of a medical expense. Consumers demand goods faster than-they can be supplied increasing compeition among buyers. A higher opportunity cost of producing a good increases the supply of that good.

At this stage you should know whether or not the financial gains outweigh the costs. Finding the value of the best option that is not chosen. In simple terms opportunity cost is the benefit not received as a result of not selecting the next best option.

An opportunity cost is best described as. Lower the opportunity cost of producing the goods it trades. A small number of producers command nearly the entire market for a certain good or service.

The possible opportunities lost when making an economic decision. Hendikeps2 and 8 more users found this answer helpful. 1 Which of the following best describes the concept of opportunity cost a historical cost b accounting cost c the value of the best opportunity given up d the cost of the worst opportunity given up 2 All points inside the frontier of the PPC are.

Tap card to see definition. A marketing company goes out of business because it could not find enough clients. Based on the information provided in this situation which of the following best describes the opportunity cost.

Which of the following best explains cost-push inflation. A car company receives a large amount of capital from a bank to help it recover from a difficult period of low sells c. Rising prices for goods and services reduce spending power and cut into consumer demand B.

Country A has an absolute advantage producing coal. A person decides to go back to college in order to transition to a new career. An employer who hires a new employee cant hire the other people she interviewed.

The government will be able to improve the road system encouraging more people to drive on vacations. Which describes a situation in which the price of a good would rise. It values the unrealized return of the best possible alternative compared to the final decision made Choosing is losing.

A corporation that begins selling a new product sees its overall profits increase. AInefficient b efficient c equivalent d equilibrium. Other sets by this creator.

See answers 2 Best. A grocery hopes to increase its profits by selling organic vegetables grown on local farms that avoid dangerous pesticides. Which of the following accurately describes the effect of a situation of scarcity.

Question 4 of 10 Which situation best describes an opportunity cost. Which of the following best explains the purpose of a supply schedule. Opportunity cost- The best alternative given up by a particular decision Marginal analysis- A decision-making tool that weighs additional costs and benefits of going for one more unit of something Discretionary spending- Purchases for whatever someone wants Risk aversion- The amount of reluctance a person has to taking chances.

Opportunity cost -3000. An employer who hires a new employee cant hire the other people she interviewed. A person decides to go back to college in order to transition to a new career.

This means you would lose 3000 if you stay at your current job. Match the type of market structure with each example. Econ 442 test apex.

Which situation best describes an opportunity cost. Click card to see definition. Which calculates opportunity cost.

Econ - Final Test. Value added to resources that already exist. A Process of maximizing benefits and minimizing costs - Apex.

Which statement best describes this situation. The idea that people have unlimited wants and limited resources C. Which situation best illustrates a business increasing its productivity.

The increased costs associated with producing additional items B. Opportunity cost is a key concept in economics and has been described as expressing the basic relationship between scarcity and choice. Please just chose the correct answer for.

Helpful 0 Not Helpful. See answers 2 Best Answer. A government increases taxes on all.

Opportunity cost 32000 - 35000. Which situation best describes an. Explain Opportunity Cost and provide.

The profit that is obtained from these costs is the economic profit. To show the relationship between quantity. Social Security benefits will provide income for the elderly and disabled allowing them to spend money thus boosting the economy.

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