Coursework Writing Which one of the following statements is not true about a work breakdown structure (WBS)? B)Comparative advantage is interesting theoretically, but it is not relevant when evaluating real-world economic conditions. III. The direct method allocates only some of the support department costs directly to production departments and is more accurate than the reciprocal services method. III. Opportunity cost may vary with circumstances. The opportunity cost of seeing the movie is equal to: 9. The opportunity cost of a given action is equal to the value foregone of all feasible alternative actions. Answer to: Which of the following statements about opportunity cost is true? Religion Papers A)The opportunity cost of a decision is the cost of all possible alternatives to the good produced. jtullos. Cheap Custom Research Papers a wbs breaks down a project into smaller activities that can be successfully estimated. It assists in anticipating profits. Theo (a UVic student) has bought a concert ticket, for an event scheduled in Vancouver during the final exam period. They regulate some aspects of production and distribution. d) I and III only. Since resources are limited but can be put to unlimited use, when a choice is made, the other alternatives available are foregone in the process of making a choice. Which of the following statements about the general transfer-pricing rule is/are true? the wbs is used as input to many other project processes. Which of the following statements is true about a market economy? a) I, II and III. b. under hard capital rationing, a business enforces limits on investment budgets because it prefers not to raise financing from the capital markets. Opportunity cost is equal to implicit costs plus explicit costs. Robert's investment in an unsuccessful business venture. b) I c) III only. Question: Which of the following statements about opportunity cost are true? You are willing to pay $80 for the concert and the concert ticket costs $50. 56% average accuracy. Speech Writing Which of the following statements about opportunity cost is TRUE? III. d) I and III only. Opportunity cost is equal to implicit costs plus explicit costs. Accounting Papers A) It is an unavoidable cost that cannot be changed no matter what action is taken. Opportunity cost is the cost of next best alternative forgone. Use the production possibilities frontiers in Exhibit 4 to answer the following question. (a) It is the value of all alternatives you pass up when you make a choice (b) It is value of the best alternative you give up when you make a choice (c) It can only be measured in dollar terms (d) It is the same for all individuals (b) It is the value of the best alternative you give up when you make a choice. a year ago. All other trademarks and copyrights are the property of their respective owners. Which of the following is true regarding opportunity cost? 8. … (a) The opportunity cost of a college education is measured only by the payments for tuition and books (b) The opportunity cost of a decision is strictly monetary (c) Some decisions have zero opportunity cost. D-Currency can be exchanged … Opportunity cost accounts for alternative uses of resources such as time and. c.) The slope of the marginal cost curve is equal to the firm's supply curve. All of the following regarding PPF are true EXCEPT: Preview this quiz on Quizizz. 0. 0. Creative Writing, Critical Thinking Writing 10. It influences producers. 197) A) Target return on investment is an example of a cost-based method. Opportunity cost accounts for alternative uses of resources such as time andmoney.a) I, II and III.b) Ic) III only.d) I and III only.2. 2. a year ago. Which of the following statements about opportunity cost is TRUE? Opportunity costs only measure direct out of pocket expenditures. Suppose that you deciding between seeing a move and going to a concert on a particular Saturday evening. Which of the following statements is true? The opportunity cost of going to the movie is: 3. 2. Which of the following statements about opportunity cost is true? 197) Which of the following statements about cost-oriented approaches is true? It encourages people to spread their resources around.Which of the following statements about opportunity cost are true? D) Scarcity arises when there is a wide disparity in income distribution. The slope of the total revenue curve and total cost curves are equal. b) I Opportunity cost accounts for alternative uses of resources such as time and money. It does not include any direct monetary costs, but includes the imputed costs of the alternatives chosen. A ticket costs $10, and the next-best alternative use of your time would be to go to dinner with a friend. 6. Suppose that you are willing to pay $20 to see a movie on Saturday night. 2. Which of the following statements is true about scarcity? Which of the following statements about opportunity cost is TRUE? Opportunity costs only measure direct out of pocket expenditures. Movie and Book Reviews D) Incremental Cost Is The Same Thing As Marginal Cost. Which of the following statements about opportunity cost is TRUE?Opportunity cost is equal to implicit costs plus explicit costs.Opportunity cost only measures direct monetary costs.III. Lab Reports B) Fixed Cost Is The Same Thing As Variable C) Costs Look The Same From All Perspectives. Question 3 Options: A) Focusing On Incremental Costs Is A Bad Idea For Managers. Answer: 1 2 3 Most relevant text from all around the web: Opportunity cost only measures direct monetary costs. If the United States has a comparative advantage in the production of food, then Mexico must have a comparative advantage in the production of clothing . Victoria 8007 Australia, Subject: Economics / General Economics. Save. d) Marginal analysis. Suppose that you are willing to pay $50 to see a movie on Saturday night. b) $20. It influences consumers. Edit. a. opportunity costs are those values that have already been incurred, cannot be recouped, and should not be considered in an investment decision. Opportunity cost accounts for alternative uses of resources such as time and money. a) I II and III. To calculate accurately the opportunity cost of an action we need to first identify the next best alternative to that action. Question options:. Opportunity cost accounts for alternative uses of resources such as time andmoney.a) I, II and III.b) Ic) III only.d) I and III only.2. It exists because resources are scarce. A ticket costs $15, and the next-best alternative use of your time would be to go to a concert which costs $80 and you value at $100. 2. A. D) The higher the opportunity costs, the lower is the relevant cost. Which of the following statements is true about the direct method of allocating support department costs to production departments? Which of the following statements about opportunity cost is TRUE? Answer A-Income-earning investment opportunities exist. Price exceeds marginal cost. I. Question 25. Suppose you play a round of golf costing $75. Play this game to review Economics. Opportunity cost only measures direct monetary costs. b. © copyright 2003-2021 Study.com. Sociology Papers Medical Papers. by sage | May 14, 2020 | economics. 3. f the statements is true. I. Case Study Writing It exists because resources are scarce. Suppose that you deciding between seeing a move and going to a concert … In addition to the cost of the ticket, Theo will need to pay $60 for a return ferry ride to Vancouver, in order to attend the concert, but has not yet bought the ferry ticket. The opportunity cost of seeing the movie is equal to: a) $15. Opportunity cost is equal to implicit costs plus explicit costs. The opportunity costs are zero. A ticket costs $10, and the next-best alternative use of your time would be to go to dinner with a friend. 5. I. I. He was willing to pay $220 for the concert ticket at the time he bought it, but only had to pay $70. II. B) These methods focus on the demand side of the pricing problem and involve stimulating demand and decreasing revenue. Ob. When the producing division has excess capacity, the transfer decision should be based on the outlay cost. 2. [Answer] Which of the following statements about opportunity cost are true?CHECK ALL THAT APPLY. III. B) It is the income foregone by not using a resource in an alternative way. project managers use the wbs as a tool to estimate project costs, activity durations, and resource requirements. c) III only. The benefits which could have accrued from those alternatives are the opportunity cost of making a choice. 11th - 12th grade. B) Scarcity is not a problem for the wealthy. - Definition, Theory, Formula & Example, Five Determinants of Demand & the Demand Curve, Total Product, Average Product & Marginal Product in Economics, How Changes in Supply and Demand Affect Market Equilibrium, Total Cost in Economics: Definition & Formula, Principles of Macroeconomics: Certificate Program, College Macroeconomics: Tutoring Solution, CLEP Principles of Macroeconomics: Study Guide & Test Prep, Business 104: Information Systems and Computer Applications, Biological and Biomedical Opportunity cost is best described by which of the following statements? Cost reduction often requires improvements in the delivery of care. ... . The phrase "opportunity cost is the opportunity lost" captures the idea of opportunity cost. b.) Opportunity cost only measures direct monetary costs. Opportunity cost only measures direct monetary costs. A friend offers to buy the concert ticket from him from $25. 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