Beverly spends $100 on a teeth whitening kit. After one application, her gums are inflamed and it feels like her mouth is on fire. Beverly is trying to decide whether to apply the treatment again, or throw the kit away. The opportunity cost of a second application is:   Question 47 options: a $100.00 b the pain and suffering involved with the second application. c $100 + the pain and suffering involved with the second application. d $100 + the pain and suffering involved with the first and second application.

Q: A casino offers people the chance to play the following game: flip two fair coins. If both come up…

A: 0.37 Explanation:This is so because, on average, if your friend plays the game enough times, the…

Q: 1. You are the coordinator of a nonprofit that distributes donated items to three local homeless…

A: Since there are multiple questions, only the first question will be answered here. If you want…

Q: Units Consumed 2 B 4 Total Utility 0 40 B 80 D Refer to data. What is the value for C? Marginal…

A: Cardinal utility theory proposes that the abstract concept of utility, signifying satisfaction or…

Q: Most people do not steal, because Multiple Choice O O stolen goods are subject to the law of…

A: Stealing is an act of doing certain sort of theft or robbery with the motive of generating profit.

Q: Jia is considering whether to go out to dinner at a restaurant with her friend. The meal is expected…

A: The individual is considering whether she should go out for dinner with her friend to a restaurant.…

Q: the raffle? Jaime has never won a raffle before, so she is likely to win this time. The raffle has a…

A: A utility function of a rational consumer describes the willingness to consume a particular…

Q: Faisal has a budget of SR24 to spend on two fruits: Apples and bananas. The price of apple is SR3.00…

A: A budget line represents the combination of two products that a consumer can afford given the costs…

Q: Give 2 examples of an economic decision wherein ; 1. The cost outweighed the benefit. 2. The benefit…

A: Meaning of Cost-Benefit Analysis: The term cost-benefit analysis refers to the situation under…

Q: A recent trend in health insurance is the Health Savings Account (HSA). The idea behind Health…

A: Demand for healthcare refers to the level of consumption of healthcare by an individual in case of…

Q: A friend offers you a chance to play a game in which there are only two outcomes, each with equal…

A: A game is said to be fair when the value of a game is zero, it means there is neither gain of loss…

Q: Cognitive biases are the result of Multiple Choice heuristics used in the deliberative processes of…

A: Cognitive biases involves deviating from thinking rationally and are influenced by human emotions.…

Q: Assume that prior to the Fall 2022 outbreak of respiratory illnesses, Covid, influenza, and…

A: Perfectly competitive firms are those that sell in a market with numerous buyers and sellers. The…

Q: QUESTION 39 39. Economic rationality or optimization means that people should compare the…

A: In economics, people make decisions based on their consumer behavior and producer behavior when…

Q: d. Use expected utility to make a recommended decision. e. Should the decision maker feel…

A: Expected Utility: In decision theory expected utility represents the average utility or satisfaction…

Q: Let's assume you live 80 miles from the beach and it takes you two hours to drive there from home.…

A: Opportunity cost is the value of the next best alternative foregone when a decision is made,…

Q: Exercise 2. 1. How could they do that! They abducted Speedy, your favorite tortoise! They asked for…

A: You find yourself in a predicament where Mr. T has kidnapped Speedy, your beloved tortoise, and he…

Q: A student trying to maximize her semester GPA uses all her time to study. She splits her time…

A: Opportunity cost is known as the forgone benefit that could have been derived by an option which was…

Q: Nori is debating on a phone and where to get it. Several places have the same phone, but it's easier…

A: The travel time and the price of each phone is given below.StoreTravelling time Each wayPrice of…

Q: Ralph will consume any health care service just as long as its MB exceeds the money he must pay out…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Scott loves to go to baseball games, especially home games of the Cincinnati Reds. All else equal,…

A: The net benefit of a project is determined by totaling its benefits and subtracting all of its…

Q: When you make a choice, whatever you give up as a consequence is called a/an a) priduction cost b)…

A: Resources are scarce and wants are limited. Thus there always exists tradeoff of resources.

Q: You are deciding whether or not to purchase insurance. Your income is $100,000 and the chance of you…

A: Income = $100,000  Chance of becoming sick = 30% The cost of medical care when sick= $80,000…

Q: If a highway is made safer, the benefit is fewer deaths and injuries. Explain the following two ways…

A: Examining the economics of the insurance sector entails investigating financial patterns, evaluating…

Q: Whether a certain criterion is determinant or not is independent of the situation in which a product…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Improving your communication skills will enhance your career because Select one: a. the higher you…

A: Hi! thanks for the question but as per the guidelines, we can answer only one question at one time.…

Q: 2) To relieve stress, you have been told to not bottle up your anger but to let it out. A teakettle…

A: Managing stress is a common challenge in our daily lives, and people often employ various coping…

Q: Perceptual Filters depend on which of the following? D. All of the Above A. Formal Education B.…

A: Perceptual filtering refers to the process of taking in new information and interpreting it…