Example of opportunity cost example
[DOC File]Transfer Price (in-class problem)
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For example, the opportunity cost of studying on Friday night might be missing your high school team's football game. Why would LeBron James chose not to attend college and play college basketball? An economist would answer this question by stating that the opportunity cost of college (making millions in the NBA) was too high for James.
[DOC File]Opportunity Cost Work Sheet
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Opportunity Cost Assignment Name_____ In your own words explain . opportunity cost. Create your own example to support your explanation. Does money have to be involved when you talk about opportunity cost? Why or why not? For each of the examples explain the opportunity costs for …
The Opportunity Cost of a Lifetime
In this example we do not know the opportunity cost because we do not know if the ice cream bar ranks as the next best alternative, or is third on the individual’s list of preferences. Suppose the “rules of the game” had been that “the class” could choose one snack, and the choice was Candy A.
[DOC File]PPF and Opportunity cost questions
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16. (p. 10) Purchasing a car is an example of a durable-product goal. TRUE Bloom's: Comprehension Difficulty: Easy Learning Objective: 2 Topic: Types of Financial Goals 17. (p. 12) Opportunity costs refer to money already spent. FALSE. An opportunity cost is the time, money, or resource given up when a decision is made.
Definitions and Examples of Opportunity Cost
For example, after school you can play video games, study, watch television or go to sleep. Even when YOU are completely UNAWARE of it, you are constantly making decisions and there is both an opportunity cost and opportunity benefit of each decision. Opportunity cost/benefit analysis.
[DOC File]Choices and Opportunity Cost - Class Schedule
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What is the opportunity cost of switching production from 0 units of food to 2 million units of food? What shape is the PPF curve in this example? Explain in your words why it is this shape. In what circumstances would the PPF be a straight line? Could a PPF be …
[DOC File]Opportunity Costs and Managerial Decision Making in a ...
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This is incorrect, since only one alternative choice is their opportunity cost. For example, suppose John is willing and able to purchase good A, B, or C, in that order of preference. He will purchase A. Good B, not good B and good C, is his opportunity cost. The concept of money is not introduced in this lesson because students need to ...
[DOCX File]Opportunity Cost Assignment Name:___________
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The highest-valued alternative you give up is the opportunity cost of your decision. Opportunity cost is the highest-valued forgone activity. It is not all the possible things you have given up. For example, if you go to the movies you have to give up a certain amount of gum and soda. If you are a sodaholic, you have to give up five sodas.
Chapter 01 Personal Financial Planning in Action
Transfer price: example 2. Min. transfer price = incremental (outlay) costs/unit to point of transfer + opportunity cost/unit to the supply division. The SF Manufacturing Co. has two divisions in Iowa, the Supply Division and the BUY Division. Currently, the BUY Division buys a part (3,000 units) from Supply for $12.00 per unit.
[DOC File]Opportunity cost activity
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The opportunity cost is the decision maker's net gain over the second best choice, if selecting the best alternative. One should opt to do something only if the associated net benefit outweighs that of the second best alternative. The concept of opportunity cost has applicability to collective social decisions as well as to individual decisions.
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