Jerry has $50 to spend at the electronics store. He sees two movies that he wants that are $15 each. There is also a video game that he wants that costs $45. Which statement best describes the opportunity costs and benefits of buying the movies? Select the best answer from the choices provided.
The opportunity cost is $30; the benefit is the hours of entertainment from the movies.
The opportunity cost is that he cannot afford the game; the benefit is that he saved $45.
The opportunity cost is $30; the benefit is that he still has $20.
The opportunity cost is that he cannot afford the game; the benefit is that he has the two movies.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jerry has $50 to spend at the electronics store. He sees two movies that he wants that are $15 each. There is also a video game that he ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Jessica teaches business studies in a reputed college. As part of the curriculum, she needs to demonstrate to her students the steps involved in starting a business.
Answers (1)
Grey owns the surface rights for High Desert Ranch, which includes a house, a bunkhouse, and two barns. Industrial Mining Inc. owns the subsurface rights.
Answers (1)
Which type of map projection will allow a navigator to accurately measure a direction? (ie the projection shows 'true north'.)
Answers (1)
An auditor has determined a $10 million materiality level for a client's balance sheet and a $3 million materiality level for the client's income statement.
Answers (1)
According to your textbook, a 1998 study of price variation found that what percentage of all the goods and services the US economy produces is subject to price changes no more frequent than once a quarter. A. TrueB. False
Answers (1)
New Questions in Business
Headings in reports that describe the content of the section and may even give a conclusion about the section are called:
Answers (1)
Coronado Company purchased land for $80,000. The company also paid $12,000 in accrued taxes on the property, incurred $5,000 to remove an old building, and received $2,000 from the salvage of the old building.
Answers (1)
Trueview video ads can be especially effective for driving what goals?
Answers (1)
There are three factors that can affect the shape of the Treasury yield curve (r*t, IP_t, and MRP_t) and five factors that can affect the shape of the corporate yield curve (r*t, IP_t, MRPt, DRP_t, and LP_t).
Answers (1)
Alyson is an employee at Who'd of Thunk It Games, a company that was just purchased by a competitor. The goals set forth by the new management team are extremely ambitious and are placing seemingly insurmountable goals for the employees.
Answers (1)