You bought a non-refundable ticket to a movie you really wanted to see. You’ve been waiting for days maybe even weeks for the movie to open. A friend has an extra ticket to see your favorite artist in concert and you get to go for FREE! What is your opportunity cost of going to the concert? a) nothing - it's FREE!
b) seeing the movie
c) spending time with your friend
d) the cost of the movie ticket

The correct answer is:

a) nothing - it's FREE

Explanation:

opportunity cost refers to the benefit forgone in other to benefit from another alternative.

In this example, the opportunity cost is "nothing", since it was not stated that attending the concert will deprive you of attending the movies when it eventually opens. The concert and the movie do not occur at the same time, hence there is no opportunity cost for attending the concert in place of the movie.

However, if attending the concert meant not being able to attend the movie, then the opportunity cost would have been the cost of the movie ticket.

answer: that government dose not want hire eric but hire minorities and woman on affirmative action quotas.

explanation:

marginal cost is a microeconomic measure that us to evaluate the extent to which the level of production of a good is sustainable in accounting, that is, to how many quantities the company plans to profit from the production of the good.

the concept of marginal cost is simple, it means the cost of producing one more item. for example, in the case of pies, the marginal cost is the cost of producing one more pie than those that have already been produced.

it is important to understand that productive activity influences marginal cost. the marginal cost of some goods can be very high, while others may be insignificant. for example, the marginal cost of producing an extra plane is very high. already the marginal cost of a water company to provide 1l more water is derisory.

in the case of pies, the cost involves the inputs, the labor and the fixed cost, which involves the fixed space of the bakery. the level of production initially has the marginal cost decreasing because there is space and manpower available. however, to produce more you have to hire more workers and buy more inputs. if physical space is limited, workers will conflict with places, inputs and their productivity will decrease, meaning there is an optimum point of production for each level of space and manpower. from this point on, the productivity of the workers will be getting smaller because of lack of space, so that the marginal cost of producing one more pie will be increasing. so, although you have not posted the chart, but if you have the answer, you can see that my explanation goes according to the marginal cost curve that will increase from the 4th pie, answer (c).