WebDetermining opportunity cost Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores carry the same suit, but it is more convenient for Juanita to get to some stores than others. WebJan 16, 2024 · As a result, the wage rate per hour, which is $16, equals the opportunity cost of time. As a result, the time opportunity cost is $24 ($16 + $8). Aside from that, buying in a neighboring city saves you $40 ($16+$16+$8) in time. As a result, it may be concluded that Juanita can reduce her overall cost by shopping at a nearby city market.
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WebSep 5, 2024 · Determining opportunity cost Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Jua ... [Show More] Last updated: 5 months ago Preview 1 out of 20 pages Add to cart Instant download OR PLACE CUSTOM ORDER Add to cart Instant … WebOpportunity cost = 50 x150/60 = $125 Price = $ 63 Total cost = Price of dress + Opportunity cost = 63 + 125 = $ 188 Juanita will minimize the cost of dress if she buys its from the across town which has the lowest total cost Student review 100% (1 rating) Thorough explanation Clear formatting Easy to follow "Thanks so much" raytheon boomerang system
Micro & Macro. Chapter 1 【Ten Principles of …
WebFinally, if Juanita buys her dress at the store in the neighboring city, the opportunity cost of her time is 2.5 hours: 60 minutes to drive there, 30 minutes to shop, and 60 minutes to return to work. The price she pays is $63, so she faces a total cost of $145+$63=$208 $145+$63=$208. WebDec 12, 2024 · To determine the opportunity cost of pursuing ProjectZ, TechSmyth runs a projection of the two projects. Currently, ProjectX generates $48,000 per year. It performs the following calculation: … WebYou can use the following Opportunity Cost Calculator. Return of Next Best Alternative Not Chosen. The Return of the Option Chosen. Opportunity Cost Formula. Opportunity Cost Formula =. Return of … raytheon boston jobs