Daniel Mathews a footballer who is based in Sweden received a fine of $2 500 and a two-match suspension for use of performance-enhancing drugs. Daniel receives a match fee of $5 000 per match from the Sweden Footballers Board, plus additional appearance money of $10 000 per match from Adidas. He also pays $500 per match for comprehensive insurance against injury. In opportunity cost terms, the cost of this incident for Daniel Mathews is: a) $17 500 b) $14 000 c) $31 500 d) $14 000.

Daniel Mathews a footballer who is based in Sweden received a fine of $2 500 and a two-match suspension for use of performance-enhancing drugs. Daniel receives a match fee of $5 000 per match from the Sweden Footballers Board, plus additional appearance money of $10 000 per match from Adidas. He also pays $500 per match for comprehensive insurance against injury. In opportunity cost terms, the cost of this incident for Daniel Mathews is: a) $17 500 b) $14 000 c) $31 500 d) $14 000.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter1: Introduction: What This Book Is About

Section: Chapter Questions

Problem 1.5IP: Goal Alignment between Airlines and Flight Crews Planes frequently push back from the gate on time,...

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34) Cal Poly soccer is playing on the same night as a concert. The soccer tickets cost $10 while the concert costs $30. You are willing to pay up to $50 to see the concert. Assume there are no other costs of seeing either event. Based on this information, at a minimum, how much would you have to value seeing the soccer game to choose the game over the concert? A) $10 A B) $20 C) $40 D) $30 E) $50
Topic B Problem: Imagine you have two competing athletes who have the option to use an illegal and/or dangerous drug to enhance their performance (i.e., dope). If neither athlete dopes, then neither gains an advantage. If only one dopes, then that athlete gains a massive advantage over their competitor, reduced by the medical and legal risks of doping. However, if both athletes dope, the advantages cancel out, and only the risks remain, putting them both in a worse position than if neither had been doping. What class concept best describes this situation? Using this class concept, what outcome do we expect from these two athletes? Are there any factors that could change the outcome predicted by this course concept?
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Well explained answer and well labeled
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