Timothy quits his job, which pay $86000 a year, to enrol in a 3-year graduate program .His annual school expenses are $64900 for tuition, $8500 for books , and $13000 for food . What is his opportunity cost for attending the graduate program?

Q: You can spend spring break either working at home for $80 per day for five days or go to Guam for…

A: The opportunity cost is the value of the next best alternative.

Q: Discuss how the concepts in microeconomics can be applied to real-world situations and increase your…

A: Microeconomics is the study of economics at a level where the individuals or the organizations make…

Q: An electrician quits her current job, which pays $25,000 per year. She can take a job with another…

A: Opportunity cost is the next best alternative foregone to attain some kind of decision. The concept…

Q: Graham decided to play football this year instead of getting a part-time job. Last year he made…

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

Q: What is the opportunity cost of your MBA education? How does the opportunity cost to you change if…

A: Opportunity cost is the foregone benefit from an alternative selected.

Q: You have been working full time but think you would like to earn more money per hour in the future.…

A: For both $10 and $20,30 hours would be the opportunity cost in time.

Q: John is an economist working for Ministry of Tourism in Suva, earning $30,000 per year. There are,…

A: The three problem any individual or an economy faces are: (i) Resources are limited. (ii) Wants are…

Q: Mr. Khalil has 200 OMR; he wants to purchase a TV and washing machine that costs 200 OMR each. He…

A: When an individual, an investor, or a corporation chooses one option over another, opportunity costs…

Q: Timothy quits his job which pays $65 900 a year to enrol in a 2-year graduate program. His annual…

A: Opportunity cost measures the trade-off between two goods.

Q: You have been going to school and working 10 hours a week. The school offers you a scholarship worth…

A: 1)Opportunity cost in time-10 hours In money 10*10=100 per week. 2)I would choose quarter because…

Q: What does the law of increasing opportunity cost state?

A: Law of Increasing opportunity cost staes that when the production of a particular product is…

Q: The opportunity cost of going to school instead of working is the cost of a) housing. b) potential…

A: In financial matters, the cost analysis incorporates two unique sorts of expenses. The first is the…

Q: Ben considers going to the Kings of Leon concert in Philadelphia. A ticket costs $100. If Ben does…

A: The opportunity cost denotes the amount of potential gains (or benefits) that an individual or firm…

Q: Suppose you have a choice of working full-time during the summer or going full-time to summer…

A: Suppose you have a choice of working full-time during the summer or going full-time to summer…

Q: In a small town, there's a mousepad factory which employs workers at $8 an hour, for forty- hour…

A: In microeconomic theory, the opportunity cost of a particular activity option is the loss of value…

Q: The financial costs of obtaining a college education include tuition and fees, textbooks, and for…

A: Opportunity cost is the forgone benefit from the next best alternative by choosing another…

Q: Give some examples of benefit-cost analyses?

A: Benefit-cost analysis is a process used by the business to analyse the decisions and to choose the…

Q: Explain "Fairness and Equality or giving all the people same opportunity"

A: The study of economics take into consideration the allocation of the resources which is available in…

Q: By taking the train, Alain can travel from Paris to Lille in 1 hour. The same trip takes 5 hours by…

A: Opportunity cost is the benefit that is not received due to not choosing the other option.

Q: timothy quits his job, which pays $87000 a year to enrol in a 3 year graduate program. his anual…

A: Yearly amount from the job = $87000 The Annual school expense = $53500 Books charges = $6800 Food…

Q: Suppose you currently earn $40,000 a year. You are considering a job that will increase your…

A: Given, Current earning- $40000 Earning after MBA- $400,000  Annual cost- $50000 Tuition fee-…

Q: attending summer school cost 2,200. If you worked, you could earn 7,000. What is the opportunity…

A: Opportunity Cost:The opportunity cost of using a commodity or activity is equal to the value or cost…

Q: If your tuition is $5,000 this semester, your books cost $600, you can only work 20 rather than 40…

A: Opportunity cost refers to the best given up values among the alternate in the process of gaining…

Q: (Opportunity Cost) You can spend spring break either working at home for $80 per day for five days…

A: When it comes to evaluating a company's capital structure, opportunity cost analysis is vital. In…

Q: Why is the opportunity cost of attending college higher for a 50 year old than for a 20 year old?

A: Opportunity cost also called the implicit cost is the cost of the next best alternative that is…

Q: You win Rs 10,000 in a horse race. You have a choice between spending the money now and putting it…

A: Economics is a branch of social science that deals with the production, distribution, and…

Q: You have been going to school and working 10 hours a week. The school offers you a scholarship worth…

A: A) In one quarter time is = 12 week (assumed 4 weeks per month and 3 months in one quarter)…

Q: opportunity costs

A: Opportunity cost is the cost of the next best alternative that has to be foregone. In other words,…

Q: Timothy quits his job which pays $59,000 a year, to enrol in a 3-year graduate program.  His annual…

A: Given, Salary from job = $59,000 per year  Tuition expense= $60,300  Books expense = $9,500  Food…

Q: You have one scarce hour to spend between studying for an examination or taking classes in a…

A: Opportunity cost is the benefit that is sacrificed when the next best alternative is not chosen.

Q: Harry Homeowner pays $300 monthly on a mortgage in a community where identical houses rent for $800…

A: Opportunity cost is being calculated by an investor by making a comparison of returns of two options…

Q: y. Bob's opportunity cost of remaining in college is

A: Opportunity cost is the loss of potential gain from other alternatives when one particular…

Q: You can spend spring break either at home working for $80 per day for five days or go to Florida for…

A: Opportunity cost refers to the value of the best alternative forgone when one chooses an item or…

Q: Incentives and opportunity costs. Why do we do the things we do, and how do opportunity costs show…

A: The concept of scarcity is used to explain the existence of opportunity cost in economics. In the…

Q: Timothy quits his job that pays $60,000 a year, to enrollin a 2 year graduate programme. His anual…

A: Opportunity cost is the next best benefit or alternative which is forgone to attain the current…

Q: Timothy quits his job,which pays $87000 a year ,to enroll in a 3 years graduate program. His annual…

A: Opportunity cost is the forgone benefit that would have been derived from the next best alternative.…

Q: What is the opportunity cost of attending college ?What happens in terms of opportunity cost as one…

A: In terms of the opportunity cost, as one gets more educated such as earning a graduate degree or the…

Q: The opportunity cost of working is __ Select one: a. the wage you earn for the time spent working.…

A: d. what you would have done during the time if you were not working.

Q: Your choice for the summer is to either work at home for 4 weeks and get $100 per week or to go to…

A: Opportunity cost is defined as the benefits an individual, business, or investor forgoes when he/she…

Q: What is the opportunity cost of going to college?

A: Opportunity cost is the next best alternative foregone. Opportunity cost=sacrifice/gain.

Q: Suppose you get $1,000 as a birthday gift.  You can spend it today or you can put the money in a…

A: The opportunity cost of spending the money can be calculated as follows: When the $1,000 gift amount…

Q: In a small town, there's a mousepad factory which employs workers at $8 an hour, for forty-hour…

A: Opportunity cost is the cost of loosing one opportunity for gaining the best other one or we can say…