Carlos is offered a contract as a rookie for the New England Patriots. If he accepts, he must leavethe university where he is getting a liberal arts education. What can we definitely say about Carlos'situation?the opportunity cost of staying in school would probably seem low by most peopleFootball is for a short period of time in a life span, but educational attainment can never be taken away.Carlos should stay in school.It's not even a contest. He should join the Patriots.Based on his own preferences, Carlos must weigh the relative opportunity costs of staying in school orjoining the Patriots. He should choose the option with the lower opportunity cost. I have eaten two slices of pizza costing $3 each. and am considering a third slice--also costing $3.What dollar amount am I considering in my decision?$6none of these$9$3

sity where he is getting a liberal arts education. What can we definitely say about Carlos' ortunity cost of staying in school would probably seem low by most people is for a short period of time in a life span, but educational attainment can never be taken away. hould stay in school. even a contest. He should join the Patriots. n his own preferences, Carlos must weigh the relative opportunity costs of staying in school or he Patriots. He should choose the option with the lower opportunity cost.

sity where he is getting a liberal arts education. What can we definitely say about Carlos' ortunity cost of staying in school would probably seem low by most people is for a short period of time in a life span, but educational attainment can never be taken away. hould stay in school. even a contest. He should join the Patriots. n his own preferences, Carlos must weigh the relative opportunity costs of staying in school or he Patriots. He should choose the option with the lower opportunity cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Need help with this homework thinking question (about opportunity costs) Sigmund Freud, in his 1930 essay Civilization and Its Discontents, argues that thesublimation of sexual desire leads to the mental energy required for advances in civiliza-tion: science, art, politics, etc. He writes,“Sublimation of instinct [such as sexual instinct] is an especially conspicu-ous feature of cultural development; it is what makes it possible for higherpsychical activities, scientific, artistic, or ideological, to play such an impor-tant part in civilized life... it is impossible to overlook the extent to whichcivilization is built up upon a renunciation of instinct...” How would an economist phrase Freud’s argument, in terms of opportunity costs? Might this explain the development of monogamous marriage as an institution?
O private citizens. Question 45 of 50 The collapse of the U.S. economy demonstrated that: O O capitalism was losing ground to Marxist communism. the United States was not a world power. the economies of the world are connected. Oprosperity was not possible in peacetime. Question 46 of 50 As part of an agreement in 1939, Stalin and Hitler agreed to:
Consider the production possibilities frontier for an economy that produces only sofas and cars. The opportunity cost of one sofa is:? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.
A. Explain what the Gino ratio measures and what it means b. If US has a Gini ratio of 0.484 and Switzerland's ratio is 0.384, what does it mean?
Select one or more: a. A Pareto efficient outcome is where you cannot make anyone better off without someone else ending up worse off. b. All are happy with their share of income in a Pareto eﬃcient outcome. c. There is only ever one Pareto eﬃcient outcome. d. If two people have £100 to split, any split in which all the money is used up is Pareto-Efficient, even if one person gets none.
question 3 multiple choice 3 Question 6 multiple choice 6
The countries with the highest mean incomes are also the countries with the highest O savings to income ratios O apital to labor ratios capital to savings ratios O labor to capital ratios
SLO-1.1. In centrally planned (command) economies the decides what goods and services will be produced. Ogovernment Ofirms Oconsumers Orest of the world
4. The opportunity cost of changing your decision on what to major in college is highest___ a. before you have earned any of the credits needed to obtain the major you initially chose. b. after you have officially declared a major. c. after you have earned ½ of the credits to obtain the major you initially chose. d. after you have completed your major and received your diploma.
Choices that are the best for the society as a whole are choices in the pursuit of incentives answering the “for whom” question Interest-ing I can’t remember social-interest
True/False A change in opportunity costs would probably change a persons behavior
A _____ is when a change in the state of affairs increases the welfare of at least one person and does not reduce the welfare of any others. A. diplomatic outcome B. unilateral adjustment C. Pareto-improvement D. fair outcome