Answer:
I should avoid prolonged sun exposure
Explanation:
Systemic Lupus Erythematosus (SLE) is a type of illness in which the healthy tissues of the body gets attacked by the immune system by accident. Genetic, environmental and certain medications and hormonal factors trigger the onset of this disease in human beings.
People who have SLE are required to get protective clothing, sunglasses and sunscreens when they are to go under the sun.
So when the client makes comments around staying away from long exposures under the sun, it means the teaching was successful.
A student demonstrating understanding of Systemic Lupus Erythematosus might acknowledge it as an autoimmune disease with diverse symptoms, understand that symptoms vary based on the body areas affected, and comprehend that diagnosis is not solely reliant on a positive ANAS test, but rather a combination of symptoms and autoantibodies.
Explanation:Success in teaching a client about Systemic Lupus Erythematosus (SLE) would be reflected in the client displaying an understanding of their condition. For example, the client might make the following statement: 'I understand that SLE is an autoimmune disease characterized by the production of autoantibodies, which lead to diverse symptoms such as fatigue, fever, hair loss, and a sunlight-sensitive rash. This rash often presents as a 'butterfly' over the cheeks and bridge of the nose in about 50% of people with SLE.'
The client may also demonstrate understanding by stating, 'I know that the symptoms will depend on the specific areas affected by the disease. It might result in joint arthritis, neurological symptoms like headaches and seizures, and even abdominal discomfort. The condition might also affect my kidneys, causing edema in the legs and weight gain.'
Lastly, the client can affirm knowledge by declaring, 'I reckon that the diagnosis of SLE is not simply based on a positive ANAS test, but rather on the identification of at least four of the most common symptoms accompanied by the confirmed production of an array of SLE-specific autoantibodies.'
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Which idea would be most effective for creating a "happy morning"? Pull clothes out of the dryer to wear 10 minutes before your ride arrives Have a designated area for items each family needs to take with them Make sure Mom gets everyone up while Dad enjoys his coffee in peace Ignore the bathroom use schedule?
Having a designated area for morning essentials, incorporating physical activities into the routine, and specializing in tasks to avoid wasted time are effective strategies for creating a happy morning routine. These approaches streamline the morning preparations, enhance family time, and contribute to a more organized start to the day.
To create an effective and "happy morning", one strategy would be to implement a strong time management method and create a routine that helps prioritize morning activities. Designating a specific area for each family member's essentials can streamline the morning routine and reduce stress. This dedicated space would be where items such as keys, bags, and various other necessities are placed the night before, ensuring that everything is ready to grab and go in the morning.
Creating a morning routine that includes physical activity, like a Saturday morning family walk, can boost energy levels and promote family bonding. Additionally, encouraging children to help with morning chores, such as yard work or washing the car, contributes to a more active lifestyle and teaches responsibility.
To further enhance morning productivity, reduce wasted time by having family members specialize in specific tasks. This can apply to both household chores and morning preparations. For example, one person could be responsible for breakfast while another organizes lunches, thereby maximizing efficiency and ensuring tasks are completed more swiftly.
Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?A. Customer perceived value
B. Marketing myopia
C. Customer relationship management
D. Customer satisfaction
Answer: (A) Customer perceived value
Explanation:
The customer perceived value is basically refers to the product value that helps in determining the actual consumer perceived value for that specific products and the services in an organization.
The importance of the customer perceived value is that it gives an idea about the consumer mindset regarding the cost of the product and by using this method we can also adopting various types of techniques or method in the market so the company productivity gets increased.
It is one of the quantitative method for measuring the perceived value in terms of various types factors such as social, emotional and cultural.
According to the given question, the customer perceived value is basically refers to the consumer evaluation between the cost in the market and various types of benefits.
Therefore, Option (A) is correct answer.
The term 'Customer Perceived Value' refers to a customer's evaluation of the difference between all benefits and all costs of a market offering relative to those of competing offers. It is a key concept in marketing and business, influencing customer purchase decisions and brand loyalty.
Explanation:The term that refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers is Customer Perceived Value. This concept is crucial in the field of marketing and business because it allows companies to understand how their product or service is valued by their consumers. Businesses can analyze this value and adjust their products, pricing, and marketing strategies accordingly to maximize customer satisfaction and profitability. For instance, if a customer perceives the value of a product to be greater than its cost and greater than that of its competitors, they are more likely to purchase and become loyal to the brand offering it.
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The 1924 name change from The Computing, Tabulating, and Recording Company to International Business Machines was done in part to signal to the world the _____ in which IBM would operate, thus providing a clear, broad understanding of IBM's sector and organizational offerings.0
a. profit potentialb. corporate levelc. portfoliod. businesse. functional level
Answer: d. Business
Explanation: International Business Machine is a multinational IT consulting corporation. The name change to IBM was to signal an expanded business offering and services of the organization.
Which of the following pizza firms competing in a crowded market likely offers the best value proposition to its customers, based on the following sales pitches?A. Firm A: "The Tastiest Pizza You've Ever Had." B. Firm B: "Get fresh, hot pizza, delivered under 20 minutes-or it's free." C. Firm C: "Get your pizza at your doorstep-absolutely free delivery, anywhere." D. Firma D: "One pizza, 5 points to be redeemed with a pan pizza upon reaching 50 points." E. Firm E: "Open you pizza box and find a free gift. Hurry! Free gifts for 100 lucky customers."
Answer:
B. Firm B: "Get fresh, hot pizza, delivered under 20 minutes-or it's free.
Explanation:
To attain a competitive advantage over the market, the company should make marketing strategies so that it could maximize its sales through which it can achieve its profit targets.
The customers could be attractive with the quality of products and services the company offers
In the given scenario, the customer wants the fresh plus hot pizza at the minimum time so that the customer can be fully satisfied with the amount he/she spent
So, the appropriate option is B.
Answer:
it is answer b
Explanation:
The answers to an economy's three central economic problems are determined by the interaction of three forces: economic forces, political forces, and social forces.
Correct/Complete Question:
The answers to an economy's three central economic problems are determined by the interaction of three forces: economic forces, political forces, and social forces. True or False
Answer:
True
Explanation:
The above forces, economic, political and social determine the answers to the three economic problems and also determines how economic forces operate in an economy. The three economic questions are;
- What goods and services should be produced?
- How should these goods and services be produced?
- Who consumes these goods and services?
Political forces are forces that influence the economic and political stability of the market. Social forces include cultural influences on the economic stability of the market. Economic forces on the other hand are the factors that determine/influence the competitiveness of the market in which a firm operates.
I hope this helps.
The view that the family is an enduring social institution because of the important tasks it performs for society — economic security, emotional support, socialization of children — is the __________ perspective.
Correct/Complete Question:
The view that the family is an enduring social institution because of the important tasks it performs for society — economic security, emotional support, socialization of children — is the __________ perspective.
A. interactionist
B. feminist
C. family systems
D. structure-functional
Answer:
D, structure-functional
Explanation:
A family is seen from structure-functional perspective because of its structure (father,mother, children) as well as its functions (economic security, emotional support, etc) to the society.
This means that the family system is a structured and working system that helps the society in different ways to ensure the well-being of the society at large.
I hope this helps.
The par value or stated value of stock represents the amount of legal capital that a corporation must maintain for the protection of the creditors. This statement is _______.True / False.
Answer:
True
Explanation:
This is the value of stock or share that was set by the owners of a corporation at the point of registration of the company. It is the price that is stated in the corporation's article of association and also in the share certificate. The par value of a share has no relationship with the market value as they can be far apart.
The par value is a value specified by law for the protection of the people who might want to extend credit to the corporation.
Claire and dag are farmers who produce beef and corn. in a​ year, claire can produce 4040 tons of beef or 400400 bushels of corn. in a​ year, dag can produce 2020 tons of beef or 160160 bushels of corn.. to maximize their total output of beef and corn​
Answer:
Dag will produce beef and Claire will produce corn
Explanation:
given data
claire produce = 40 tons of beef or 400 bushels of corn
dag produce = 20 tons of beef or 160 bushels of corn
solution
as maximize production of 2 farmer trade under comparative advantage
and comparative advantage depend on the opportunity costs
so here opportunity cost of producing beef = [tex]\frac{160}{20}[/tex] = 8 corn
and opportunity cost of producing corn = [tex]\frac{40}{400}[/tex] = 0.1
Dag will produce beef and Claire will produce corn because both have lower opportunity cost in these
"To maximize their total output of beef and corn, Claire and Dag should specialize in producing the commodity for which each has a comparative advantage.
First, we calculate the opportunity cost of producing beef for both Claire and Dag. The opportunity cost is the amount of corn given up to produce one unit of beef.
For Claire:
- Opportunity cost of beef = Bushels of corn given up / Tons of beef produced
- Opportunity cost of beef for Claire = 400400 bushels of corn / 4040 tons of beef
- Opportunity cost of beef for Claire = 100 bushels of corn per ton of beef
For Dag:
- Opportunity cost of beef = Bushels of corn given up / Tons of beef produced
- Opportunity cost of beef for Dag = 160160 bushels of corn / 2020 tons of beef
- Opportunity cost of beef for Dag = 80 bushels of corn per ton of beef
Since Claire has a lower opportunity cost for beef (100 bushels of corn per ton of beef) compared to Dag (80 bushels of corn per ton of beef), Claire has a comparative advantage in producing beef. Conversely, Dag has a comparative advantage in producing corn because his opportunity cost for corn (1 ton of beef per 80 bushels of corn) is lower than Claire's (1 ton of beef per 100 bushels of corn).
To maximize total output, Claire should produce only beef, and Dag should produce only corn. This way, they can trade and both benefit from specialization.
If Claire produces 4040 tons of beef and Dag produces 160160 bushels of corn, they will have maximized their total output. There is no need for them to produce the other good since they have a higher opportunity cost for it compared to the other farmer.
Therefore, the solution to maximize their total output of beef and corn is for Claire to produce 4040 tons of beef and for Dag to produce 160160 bushels of corn."
In San Francisco, the typical pay in the installation, maintenance, and repair occupation exceeded the national average by 44 percent. In Johnstown, Pennsylvania, the rate was 9 percent less than the national average. What do these statistics represent?
Answer: Relative pay differential.
Explanation:
Relative pay differential is earnings compared with earnings of others doing the same job.
A nurse is teaching a parent about the safety measures to be taken at home. Which statement made by the parent requires further teaching?
Answer:
Statement 3 - I lock my medications in the store cabinet.
Explanation:
I lock my medications in the store cabinets indicates further teachings
Which prevents easy access by toddler who can mistakenly ingest doses of drugs that is dangerous to their health so parent that makes such statement shows awareness and understanding of home safety around toddlers.
A society decides that it needs to produce more corn to feed the growing population. What must it do before it begins the production process? Analyze existing resources
Answer:
Perform an analysis on existing resources such as land availability, water availability, manpower, mechanization
Explanation:
The first thing required in such case is to first analyze the existing resources available to them to begin the production process. One factor to be considered is water availability. Do they have the available amount of water for irrigation purposes or for other purposes in the production process. Do they have available land area that can feed a growing population. They need to also check if they have adequate manpower and mechanization to engage in such large-scale production of corn.
Answer:
A
Explanation:
Purchasing power parity (PPP) is a conversion that determines the equivalent amount of goods and services different currencies can purchase.
A. True
B. False
Answer:
Yes this is True because this conversion is used to capture the differences in cost of living between countries.
Which of the following best describes cost allocation? A. the assigning of direct costs to the chosen cost object. B. a factor that links in a systematic way an indirect cost or group of indirect costs to a cost object. C. a grouping of individual cost items. D. the assigning of indirect costs to the chosen cost object.
Answer:
D. the assigning of indirect costs to the chosen cost object.
Explanation
Cost allocation is best described as the assigning of indirect costs to the chosen cost object.
Cost allocation is a methodology in financial reporting that is used to spread or share common costs among departments, services or inventory items. it has to do with the identification of common costs and apportioning them among cost objects that have jointly benefited from them.
Lane Bryant is a women's clothing line, dealing exclusively in stylish clothing and flattering fits for plus-size women. Which business orientation best describes Lane Bryant's approach?
Lane Bryant's business orientation can be defined as Market Orientation. This is because they focus on the needs of a specific market segment, which in this case is plus-size women. Their specific product offerings are tailored to meet the needs and tastes of their target audience.
Explanation:The business strategy used by Lane Bryant, a women's clothing line, can be described as a Market Orientation. This approach is all about understanding the needs and demands of a specific audience and offering products to fit those needs. Lane Bryant, as discussed, focuses solely on providing stylish and flattering clothing for plus-size women. They have specifically identified a niche market segment and tailored their product offering to meet the uniquely defined requirements of this group, with their competitive difference being the special fit and aesthetic they offer.
For example, Abercrombie & Fitch trademarked the slogan "casual luxury" to market their slightly upscale, East Coast yacht club-influenced clothing line. This is a perfect example of how a brand can orient its business based on a clear understanding of its target audience.
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a) Market orientation best describes Lane Bryant's approach.
Market orientation focuses on understanding and meeting the specific needs and preferences of customers. Lane Bryant has tailored its offerings to cater exclusively to plus-size women, emphasizing stylish clothing and flattering fits that address the unique needs of this market segment. This approach involves researching and responding to customer preferences, trends, and feedback, rather than just pushing a standard product line.
Lane Bryant's commitment to providing fashion-forward options for plus-size women demonstrates its focus on aligning its products with the desires of its target market. By prioritizing customer needs and preferences, Lane Bryant effectively utilizes a market orientation to differentiate itself and serve its niche audience effectively.
The correct question is shown below:
Lane Bryant is a women's clothing line, dealing exclusively in stylish clothing and flattering fits for plus-size women. Which business orientation best describes Lane Bryant's approach?
a) Market orientation
b) Product orientation
c) Sales orientation
d) Production orientation
Compute conversion costs given the following data: Direct Materials, $386,100; Direct Labor, $200,100; Factory Overhead, $220,300 and Selling Expenses, $39,500.A) $420,400B) $806,500C) $606,400D) $180,800
Answer:
Option (A) is correct.
Explanation:
Given that,
Direct Materials = $386,100
Direct Labor = $200,100
Factory Overhead = $220,300 and,
Selling Expenses = $39,500
Conversion costs = Direct labor + factory overhead
= $200,100 + $220,300
= $420,400
Therefore, the conversion costs for the company is $420,400.
States often pass regulatory legislation focused on certain industries that, because of federalism, can have unintended consequences. When a large or influential state makes a policy change, it may __________.
Answer:
prompt national companies who do business there to reflect those standards throughout the country.
Explanation:
Based on the information provided within the question it can be said that when these states make a policy change, they may prompt national companies who do business there to reflect those standards throughout the country. This is because these big national companies have an immense following and influence on the population of those states. In a consumer culture, individuals tend to follow the trends set forth by these big corporations.
When creating the Statement of Work (SOW) the ___ or ___ should review the SOW with the ___ or ___ to provide an opportunity to make certain all work is clearly spelled out
Answer:
The complete sentence is:
When creating the Statement of Work (SOW) the _contractor__ or _project team__ should review the SOW with the _sponsor__ or _customer__ to provide an opportunity to make certain all work is clearly spelled out.
Explanation:
Statement of Work is used in project management to state the work requirements. It involves timeline for vendors to deliver to the client, terms and conditions, pricing, and so on.
It is a legally binding document on all parties involved. Aimed at meeting project deadlines and ensuring deliverables by clearly stating who is accountable at various stages of the project.
Book value per common share is computed by:
A. Dividing total assets by the number of shares outstanding.
B. Multiplying the number of common shares outstanding times the market price per common share.
C. Dividing stockholders' equity applicable to common shares by the number of common shares outstanding.
D. Multiplying the number of common shares outstanding by par value per share.
E. Dividing the number of common shares outstanding by stockholders' equity applicable to common shares.
Answer:
(C) Dividing stockholders' equity applicable to common shares by the number of common shares outstanding
Explanation:
Book value per common share is computed by dividing the net assets of the Company by the number of shares outstanding.
[tex]BV/share = \frac{Total Assets - Total Liabilities}{Number of Shares Outstanding}[/tex]
[tex]= \frac{Net Assets}{Number of Shares Outstanding}[/tex]
[tex]= \frac{Stockholders' Equity}{Number of Shares Outstanding}[/tex]
Book value per common share is computed by dividing stockholders' equity applicable to common shares by the number of common shares outstanding.
Explanation:The correct answer to this question is option C. Book value per common share is computed by dividing stockholders' equity applicable to common shares by the number of common shares outstanding. The book value per share represents the net worth of each common share of a company, indicating the value that shareholders would receive if the company were to be liquidated and all its assets sold.
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Ali Co. bought a machine on January 1, Year 1, for $24,000, at which time it had an estimated useful life of 8 years, with no residual value. Straight-line depreciation is used for all of Ali's depreciable assets. On January 1, Year 3, the machine's estimated useful life was determined to be only 6 years from the acquisition date. Accordingly, the appropriate accounting change was made in Year 3. The direct effects of this change were limited to the effect on depreciation and the related provision for income tax. Ali's income tax rate was 40% in all the affected years. In Ali's Year 3 financial statements, how much should be reported as the cumulative effect on prior years because of the change in the estimated useful life of the machine?
a) $2,700
b) $2,000
c) $1,200
d) $0
Answer:
Explanation:
originally allocated depreciation amount = 24000 / 8 = $ 3000
for 2 years the depreciation charged = $ 6000
The depreciation amount that should be allocated now = 24000 / 6 = $ 4000
that means for 2 years ; depreciation charged must be = $ 8000
So, depreciation is undercharged by $ 2000 ( 8000 - 6000 )
So, the cumulative effect on prior years because of the change in the estimated useful life of the machine = 2000 * 0.06 = $ 1200
Which of the following costs should not be included in product costs for internal management reports that are used for decision-making? A) Costs of unit-level activities. B) Costs of batch-level activities. C) Costs of product-level activities.D) Costs of organization-sustaining activities.
Answer:
D. Costs of Organisation Sustaining activities
Explanation:
Product costs simply represents costs that relevant or incurrred during the creation of a product and specifically these costs include apportioned factory overhead, direct materials, direct labour and direct production supplies.
One simple way of understanding product costs is that it represents those costs incurred that can be apportioned or traced to specific production processes at: the unit level, batch level or the product level of production activities.
Cost of Organization-sustaining activities is not a part of these product specific costs because they represent activity costs that benefits an entire organisation but cannot be traced to any specific production process or activity. Example of this cost includes the cost of Corporate Social Responsibility to a particular community or the cost of financial statements preparation. As such these costs must not be included in preparing product costs fo internal management reports.
Organization-sustaining costs activities are the costs that should not be included in product costs for internal management reports used for decision-making.
Explanation:The costs of organization-sustaining activities should not be included in product costs for internal management reports used for decision-making.
Organization-sustaining activities refer to costs that are incurred to support the overall operations of the organization and are not directly related to the production of specific products.
Examples of such costs could be the salaries of top-level executives, rent for general office space, and general administrative expenses.
Product costs for internal management reports should only include costs that are directly related to the production of the specific products, such as costs of unit-level activities, batch-level activities, and product-level activities.
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At a recent faculty meeting, Loraine Waverly, president of Skywalker College, announced that enrollment is up by 12 percent over the previous semester. If enrollment the previous semester was 3,250 students, what is the student enrollment this semester? A) 390 B) 2,860 C)3,640 D) 4,030
Answer:
C. 3,640
Explanation:
Enrollment the previous semester = 3,250 students
% increase in students = 12%
Additional enrollment this semester = 12% × 3,250 = 0.12 × 3,250 = 390 students
Enrollment this semester = enrollment the previous semester + additional enrollment this semester = 3,250 students + 390 students = 3,640 students
Amy, the manager of a branch location of a large travel firm, treated company resources as if they were her own and encouraged continued development and training of her employees. She cared about the staff deeply and even organized international volunteering activities to promote their growth. Amy could best be described as which type of leader?A) situationalB) sharedC) laissez-faireD) servantE) transactional
Answer:
transactional
Explanation:
If Amy treated company resources as if they were her own and encouraged continued development and training of her employees; If She cared about the staff deeply and even organized international volunteering activities to promote their growth. Amy could best be described as transactional leader
A Transactional leader is a type of leader that promote good behavior by followers through the psychological method of behavior reinforcement which is 'rewards and punishments'. By using a rewards and punishments system, such transactional leaders keep their followers motivated.
When ProFem Inc. caters to clothing, cosmetics, and toiletries markets for women, it is most likely using which type of segmentation?
Answer:
Demographic segmentation
Explanation:
Market segmentation can be defined as a market strategy where organization produces several products in accordance with the response from the target consumer. the products development type will depends on the target consumer which varies from location (geographic), culture, behavioral, population, income e.t.c
the type of segmentation Profem inc. used is Demographic segmentation because they based their market on women goods and services. their consumer is women.
Demographic segmentation is the aspect of segmentation that focuses on gender, age, family, population, culture, e.t.c
Final answer:
ProFem Inc. is using gender segmentation to market its products to women. This strategy targets the significant portion of households where women are the primary decision-makers for purchases, allowing for more effective marketing campaigns.
Explanation:
When ProFem Inc. caters to the clothing, cosmetics, and toiletries markets for women, it is most likely using gender segmentation. This marketing strategy involves dividing a market into subsets based on gender to tailor products and marketing efforts that appeal specifically to women. Gender segmentation enables companies like ProFem Inc. to create targeted campaigns that connect with their audience more effectively.
In the context provided, marketing companies are significantly interested in knowing the population percentage of women who make the majority of household purchasing decisions. This informs gender segmentation strategies for businesses that want to reach the key decision-makers in households for products ranging from cosmetics to household items.
The data from a survey mentioned, which found that in 120 out of 200 surveyed households, women made the majority of the purchasing decisions, substantiates the conclusion that targeting women in marketing initiatives can be a critical strategy for businesses like ProFem Inc. operating in markets traditionally associated with female consumers.
"The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same services. This form of pricing is called ________."
Answer:
Customer-segment pricing
Explanation:
Customer-segment pricing is a form where the price of the product is grounded on the segment of the customer. It is the segmentation of the price, where the different prices are charged to different people for the similar or the same service or the product.
In this case, the gallery has a different admission prices for seniors, adults and students and they are entitled to have a same service, this form of the pricing is known as the customer pricing segment.
Suppose that in the fictional country of Albireo the work-eligible population is 180 million, there are 110 million workers in the labor force, and the employment level is 103 million. What is the unemployment rate?
Answer:
6.36 %
Explanation:
Unemployment means the state of being jobless but actively searching for work. Unemployed people are part of the labor force.
In the case of Albireo, the work-eligible population is 180 million.
There are 110 million workers in the labor force, and employment level is 103 million. It means that those in the labor force and are not employed are 110 million - 103 million.
The number of unemployed people = 7 million
The formula for calculating the rate of unemployment
= No. of unemployed people / No. in the labor force x 100
=7 million / 110 million x 100
=7/110 x 100
= 0.063 x 100
=6.36 %
Costa Rica is a top exporter of coffee. The highest quality coffee is sold abroad, and the lower quality coffee is consumed by native Costa Ricans.Which of the following statements best describes the economic questions this paragraph addresses?1. For whom to produce? and What to produce?2. For whom to produce? and When to produce?3. How to produce? and For whom to produce?4. What to produce? and How to produce?
Answer:
whom to produce? and What to produce?
Explanation:
Costa Rica produces coffee. This answers the question of what to produce
High quality coffee is exported while native Costa Ricans consume low quality coffee. This indicates that coffee is produced for foreigners. This answers the question of for whom to produce.
I hope my answer helps you.
An inaccurate county tax certificate failed to indicate the correct taxes due. Additional tax money due would be the responsibility of the:________.
Answer:
An inaccurate county tax certificate failed to indicate the correct taxes due. Additional tax money due would be the responsibility of the: COUNTY TREASURER.
Although some gains have been made in reducing the rate of malnourishment in some lower-income nations, about __________ people around the world are malnourished.
Answer:
1 billion
Explanation:
According to the World bank, about 1 billion people are malnourished around the world despite its efforts to reduce the rate of malnourishment in some lower-income nations. A larger percentage of this 1 billion malnourished people are in the Asian and Pacific continents; rather large percentage of about 60-65 percent.
I hope this helps.
College football attendance, especially student attendance, has been on the decline. In 2016, home attendance at major college football games declined for the sixth consecutive year and was the lowest since 2000. The opportunity cost of engaging in an activity is the value of the best alternative that must be given up to engage in that activity. Source: Jon Solomon, "College Football Attendance in 2016: Crowds Decline for Sixth Straight Year," cbssports, December 16, 2016. Your opportunity cost of attending a game compared with the opportunity cost facing a college student 10 years ago is:________ A. higher, because more games are televised today. B. higher, because the cost of cable TV is higher today. C. lower, because of social media. D. lower, because games are usually viewed on high-definition television today. Can this change in opportunity cost account for the decline in college football attendance? Briefly explain. A. No, because the price of the game ticket is the only thing that matters. B. Yes, because these changes increase the opportunity cost of watching football games in person. C. Yes, because sports fans are rarely rational. D. No, because opportunity costs do not involve an actual payment of money. g
Answer:
Your opportunity cost of attending a game compared with the opportunity cost facing a college student 10 years ago is:
A) higher, because more games are televised today.
Opportunity costs are the cost of choosing one alternative from another.
In this case, when college students attend college football games they are unable to do other activities, not only while they are at the stadium or going to the stadium, but they are not able to purchase other goods. The cost of those alternatives that are lost are higher now because many college football games are televised now, before if you wanted to see a game you had to go to the game. So a student is now able to watch the game while doing other activities, or saving money for buying something else.
Can this change in opportunity cost account for the decline in college football attendance?
B) Yes, because these changes increase the opportunity cost of watching football games in person.
Even though opportunity costs do not involve actual cash payments, they are still important and individuals do consider them when they are choose one option over another. E.g. imagine if you had to choose between spending a considerable amount of money by attending a game (ticket, gas, beverages, etc.) or watching that game on TV and buying a few clothes instead or going on a date, etc. What option would you choose?
The opportunity cost of attending a college football game compared to 10 years ago is higher, primarily due to the increased cost of cable TV. This change in opportunity cost can partially account for the decline in college football attendance.
Explanation:The opportunity cost of attending a college football game compared with the opportunity cost facing a college student 10 years ago is higher, because the cost of cable TV is higher today. This is because today, more games are televised and have a higher cost associated with cable TV. Additionally, the decline in college football attendance can be attributed to the increase in the opportunity cost of watching football games in person due to changes in technology, such as the availability of high-definition television and the rise of social media.
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Here are three things you could do if you do not attend your economics class, watch television with some friends, read a good novel, or go in to work. The opportunity cost of going to your economics class is:________.
a. $20, because this is the only alternative of the three where you actually receive a monetary payment.b. $13, because this is the lowest valued alternative forfeited.c. $25, because this is the highest valued alternative forfeited.d. $58, because this is the total dollar sum of the alternatives forfeited.
Answer:
.c. $25, because this is the highest valued alternative forfeited
Explanation:
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
If I attend my economics class, the $25 I would be missing out on is the opportunity cost because it is the highest valued alternative (which indicates that it is the next best option) I forfeited.
I hope my answer helps you