Question: Define the term opportunity cost, and give an example of one.

Define the term opportunity cost, and give an example of one.

Step by Step Solution

★★★★★

3.40 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Opportunity Cost This cost refers to the value of sacrifice made or be... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

238-B-M-A-D-M (980).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

Define opportunity cost and give an example of such a cost in reference to the use of a productive resource.

Q:

1. Define opportunity cost and give an example of how opportunity costs might affect your financial decision making. 2. Explain and give an example of how marginal analysis makes some financial...

Q:

Define the term sales mix, and give an example to support your definition.

Q:

During April, Dryden Company's material purchases amounted to 6,500 pounds at a price of $14.8 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct...

Q:

1412. Define the term opportunity cost, and give an example of one.

Q:

14-12. Define the term opportunity cost, and give an example of one

Q:

Question 4: (20 points) A. List and explain with examples two important criteria that must be satisfied in order for information to be relevant. (10 points) B. Define the term "opportunity cost", and...

Q:

Question 4: (20 points) A. List and explain with examples two important criteria that must be satisfied in order for information to be relevant. (10 points) B. Define the term "opportunity cost", and...

Q:

Question 4: A. List and explain with examples two important criteria that must be satisfied in order for information to be relevant. B. Define the term "opportunity cost", and give an example of one

Q:

a 310.000 b. syatso c. 50100

Q:

Let denote the mean diameter for bearings of a certain type. A test of H0: = 0.5 versus Ha: = 0.5 will be based on a sample of n bearings. The diameter distribution is believed to be normal....

Q:

A manager is contemplating using Rules 1 and 4 for determining out-of-control conditions. Suppose that the manager constructs 3 limits. (a) What is the overall type I error probability assuming...

Q:

What is the difference between the short-run Phillips curve (SRPC) and the long-run Phillips curve (LRPC)? (A) The SRPC is downward sloping and the LRPC is horizontal. (B) The SRPC is upward sloping...

Q:

Consider the following table, which gives a security analysts expected return on two stocks for two particular market returns: (LO 7-2)

Q:

Are selling and administrative expenses treated as product costs or as period costs under variable costing?

Q:

Are selling and administrative expenses treated as product costs or as period costs under variable costing?

Q:

Are selling and administrative expenses treated as product costs or as period costs under variable costing?

Q:

Consider a portfolio made of two independent classes, with n 1 and n 2 , 1 - year term life insurance contracts, respectively. The contracts are issued to policyholders with independent and...

Q:

What is the current yield for a bond that has a coupon rate of 4.5% paid annually, a par value of $1000, and 20 years to maturity? Investors require a return of 5.9% from the bond. (Round to 100 th...

Q:

1. Suppose an investor decides to construct a portfolio consisting of a risk-free asset that pays 6 percent and a stock index fund that has an expected rate of return of 12 percent and a standard...