After much consideration you have chosen Cancun over Fort Lauderdale for your spring break trip this year. For this decision to change, which of the following must occur? A) The marginal cost of Cancun must decrease B) The marginal cost of Fort Lauderdale must increase C) The marginal benefit of Fort Lauderdale must increase D) The marginal benefit of Cancun must increase. can you tell me what the correct answer is and further explain marginal costs and marginal benefits

Q: After three years at the Massachusetts Institute of Technology, Renaud realizes that he doesn't want…

A: The marginal revenue refers to a extra revenue added by increasing the quantity with an additional…

Q: Somewhere in Kenya, a girl logs on for a personalized math lesson from California-based Khan…

A: Globalization or globalization is the active process of expansion of cross-border trade and…

Q: combinations and then draw a line to connect them. Explain where you operate on your PPF and why.…

A: The production possibility frontier (PPF) is a curve which in turn illustrates the variations in the…

Q: Is this an good example of an opportunity cost? Why or why not? “To begin, I began selling prints of…

A: Opportunity costs are generally referred to all the benefits both monetary and non-monetary which…

Q: If Tom and Abby specialize and then trade balls and rackets at 15 balls per 1 racket, A. Tom gains 2…

A: In the context of trade, specialization means concentrating on generating goods or services where…

Q: Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics…

A: Given: Sandy can produce 10 economics reports or 2 sales calls Tim can produce 2 economics reports…

Q: Kate has plans to go to a movie and already has a $10 nonrefundable, nonexchangeable, and…

A: The money that in turn has been spent already and also cannot be recovered in any case then it…

Q: Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbor, Friday, is a…

A: A budget line shows the various combinations of two goods that the consumer can afford.

Q: Question 18 4) Listen Some agricultural sub-Saharan nations of Africa have overfarmed and overgrazed…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Refer to the Front Page article to answer one question. FRONT PAGE Recycling Wastes Money New York…

A: A budget proposal refers to a detailed document comprising of all the information about the expected…

Q: Answer all the questions given below and also include sources.   Google provides email users with…

A: Yes , Google provides email users with 15GB of “free” storage. The idea is to offer people with some…

Q: Aaron and his friends Britney, Carlos, Diana, Emily, Frank, Gwen, Hugo, Isabela, and Juliana have…

A: 10 friends have 2 weekend activities to do mentioned below:ParkHot TubBenefit received by each…

Q: Hate, Ellie, and Marquis are all planning to go to the Taylor Swift Eras tour. Marquis is a huge…

A: first, we need to calculate the individual surpluses for each person and then add them up,Marquis:…

Q: Your answer has to be more than five(5) sentences for each question based on researched facts and…

A: The Production Possibility Curve (PPC) represents the different combinations of goods and services…

Q: The New York Times (Nov. 30, 1993) reported that “the inability of OPEC to agree last week to cut…

A: A cartel is a formal organization of producers of a commodity inorder to increase profits by…

Q: Attempts Average / 1 1. Understanding opportunity cost You work as an assistant coach on the…

A: Earnings per hour as a coach=$13 Carnival admission fees=$9 Attending the carnival includes two…

Q: Suppose you are a discus hurler and your goal is to maximize the distance you achieve. You “produce”…

A: In economics, total benefit refers to the sum of all the benefits received from a particular…

Q: Tom and Peyton have different abilities in the production of wings and beer. Tom can produce 120…

A: Absolute Advantage is the situation where the nation has the ability to produce greater quantity of…

Q: Product X (Xylophones) Product Y (Yarns) 50 0 Wer the following questions: Pat Pat make? 25 10 0 Pat…

A: Pat and Kerry are considering a partnership.With all Pat's resource’s, Pat can produce 50 X or 20…

Q: Elliot and Jordy find themselves on a deserted island. The only two activities available are fishing…

A: 1. Elliot and Jordy spend their time fishing and finding pineapples so time is the cost.  Elliot can…

Q: Question 02: Marginal Principle: How Many Hours at the Barber Shop? The opportunity cost of your…

A: Marginal analysis is the process of examining of cost and benefit of an activity. The optimal choice…

Q: Explain using a production possibilities curve what happened to the Russian economy when the SOEs…

A: The production possibility curve is a downward-sloping curve. It is a graphical representation of…

Q: What is the opportunity cost in this example? “ To begin, I began selling prints of my pictures in…

A: Opportunity cost refers to the cost that is foregone. In other words, it is the value of the next…

Q: Define opportunity cost. What is your opportunity cost for attending a class at 11:00 am? How does…

A: The potential gains that a person, investor, or organisation loses out on when choosing one choice…

Q: The accompanying table shows the relationship between the speed of a computer's CPU and its benefits…

A: Marginal cost:Marginal cost is the additional unit that is added to the total cost. It is calculated…

Q: Link and Zelda each have 12 hours a week they can spend making costumes and accessories for their…

A: Opportunity cost is the value of next best alternative for the given level of resources.

Q: Using an economic point of view, please describe and explain the following two situations: Describe…

A: Answer (1) The satisfaction of human needs and wants by optimally utilizing scarce resources of the…

Q: Suppose that your tuition to attend college is $10,000 per year and you spend $4,000 per year on…

A: The opportunity cost is the potential loss that is sacrificed when one option is selected over…