ECN 104
Allegany College Of Maryland
All 2 results
Sort by
-
(SOLVED)Question Answered step-by-step Question 1(1 point) Suppose Adam is deciding what mode of... Question 1 (1 point) Suppose Adam is deciding what mode of transportation to take to get to work in the morning. If Adam decides to take a taxi,
- Exam (elaborations) • 12 pages • 2022
-
- $7.49
- + learn more
Suppose Adam is deciding what mode of transportation to take to get to work in the morning. If Adam decides to take a taxi, which of the following is an explicit cost of his decision? 
 
 
 
Question 1 options: 
 
 	 
The loss of exercise he gets when he walks to work (assume exercise gives him positive benefit) 
 
 
 
 	 
The $2.50 it costs to ride the subway. 
 
 
 
 	 
The value he gets from commuting with his wife who also takes the subway 
 
 
 
 	 
None of the above are explicit costs ...
-
ECN104 - QUIZ #4 ECN 104
- Exam (elaborations) • 2 pages • 2022
-
- $8.49
- + learn more
1. Suppose Adam is deciding what mode of transportation to take to get to work in the 
morning. If Adam decides to take the subway, which of the following is an explicit cost of 
his decision? 
Answer: the $2.50 it costs to ride the subway 
2. Suppose a firm has annual revenue of $600,000 from producing cars. Alternatively, the 
firm could produce only the Engines and earn revenue equal to 100,000. Assume that 
the firm's annual raw materials costs are equal to 400,000 and that the rent it pays...
Get paid weekly? You can!
That summary you just bought made someone very happy. Also get paid weekly? Sell your study resources on Stuvia! Discover all about earning on Stuvia