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iragen
1 month ago
13

Steven lives in a big city where there is a shortage of parking. He has a parking spot in his driveway where he parks his car. W

hich of the following statements is most correct?
A. Steven has a lower opportunity cost of owning a car than his neighbor, who must rent a parking spot.
B. The opportunity cost of using the spot is zero, because Steven owns the house.
C. The opportunity cost of using the parking spot is the price he could charge someone else for usingthe spot.
D. The opportunity cost depends on how much Steven's mortgage payment is.
Business
1 answer:
Scilla [3.8K]1 month ago
5 0

Answer:

The accurate choice is option C.

Explanation:

The opportunity cost tied to any economic choice represents the cost of relinquishing alternative options. We understand that resources are finite and can be allocated to different purposes, hence, using these resources for one matter necessitates a reduction in expenditure on alternatives.  

In this context, the parking space in the driveway could be utilized for personal purposes or rented out. The opportunity cost related to using that space for personal parking is the income that could have been achieved by renting it to others.

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What strategies would you recommend that apple pursue in order to assure widespread consumer adoption of apple pay?
soldi70 [3635]

Here are some strategies that Apple should implement to guarantee widespread use of Apple Pay -

i) Encourage more merchants to accept it by educating them and providing devices at low costs

ii) Expand support across various platforms so that users of different devices can access Apple Pay services

iii) Boost visibility by collaborating with additional e-commerce platforms and applications

3 0
2 months ago
Both Amy and Brad produce and consume apple pie and ice cream. In one hour, Brad makes five apple pies or ten gallons of ice cre
harina [3808]

Réponse:

Amy possède un avantage absolu dans la production de tartes aux pommes et de glaces.

Amy a un avantage comparatif dans la production de tartes aux pommes.

Brad a un avantage comparatif dans la production de glaces.

Amy devrait se spécialiser dans la production de tartes aux pommes, tandis que Brad devrait se focaliser sur la production de glaces.

Explication:

Une personne a un avantage comparatif dans un domaine si elle produit à un coût d'opportunité inférieur par rapport à d'autres individus.

Coût d'opportunité de Brad:

Pour produire une tarte aux pommes = 10 / 5 = 2

Pour produire une glace: 5 / 10 = 0.5

Coût d'opportunité d'Amy:

Pour produire une tarte aux pommes: 15/15 = 1

Pour produire des glaces: 15/15 = 1

Amy a le coût d'opportunité le plus bas comparé à Brad pour la production de tartes aux pommes. Ainsi, elle détient un avantage comparatif dans ce domaine.

Brad présente un coût d'opportunité inférieur à celui d'Amy pour la production de glaces. Il possède donc un avantage comparatif dans la production de glaces.

Une personne doit se spécialiser et échanger le produit pour lequel elle a un avantage comparatif.

Un individu a un avantage absolu dans la production d'un bien s'il produit une quantité supérieure à celle des autres.

Amy a un avantage absolu dans la production des deux biens.

6 0
3 months ago
Old Man Smith died owning a property with an estimated value of $500,000. He never married and died without leaving a will. Smit
Scilla [3833]

Response:

The property will go to the nearest direct heir, which is his sister. This is because property is typically divided among siblings. Therefore, since Smith's sister qualifies as one of the siblings, she is entitled to inherit the property.

Clarification:

7 0
3 months ago
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