--%>
Assignment Help - homework help

Problem on opportunity cost buying a product

After agonizing regarding whether to buy a hot dog or a hamburger along with his last dollar while he goes to the fair, Jeeter at last chooses the hot dog. The hamburger shows Jeeter's: (i) normative choice, because it would be more nutritious. (ii) opportunity cost of buying a hot dog. (iii) comparative advantage since he gives up hamburgers for hot dogs. (iv) area of specialization in use. (v) rebellion against government regulations.

I need a good answer on the topic of Economic Costs problems. Please give me your suggestion for the same by using above options.

   Related Questions in Business Economics

  • Q : Business Strategies Cingular and Alltel

    Cingular and Alltel involve in aggressive and expensive advertising for cell-phones. A reason for this advertising may be: (1) attempts to increase market share. (2) predatorily drive other firms by the market. (3) to increase the use of cell phones.

    		•
  • Q : Explain the shapes of the

    Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product.  If current output is such that marginal cost exceeds marginal benefit, should more or l

    		•
  • Q : Explain about the Payments for using

    Payments for the use of land, capital and labor are respectively termed as: (w) rent, wages and profits. (x) rent, interest and wages. (y) dues, profits and depreciation. (z) fruit, profits and money.

    Q : Introduction of the term capital

    Give brief introduction of the term capital structure? And also write down its principles?

    		•
  • Q : Ambrose’s budget constraint Question:

    Question: Ambrose consumes two goods, peanuts (x1 ) and a composite good (x2). He has a utility functionU = 4 √x1 + x2. This means his MU1 = 2/ √x1 an

    		•
  • Q : Advantage in production of two products

    Explain by giving example of an absolute advantage in production of two products?

    		•
  • Q : Main economic functions of government

    Enumerate and briefly discuss the main economic functions of government.  Which of these functions do you think is the most controversial?  Why?

    		•
  • Q : Describe the Euro Describe the Euro?

    Describe the Euro?

    		•
  • Q : Illustrate Rational Behaviour of

    Illustrate Rational Behaviour of Economic Perspective?

    		•
  • Q : Contrast a vertically integrated firm

    Contrast a vertically integrated firm, a horizontally integrated firm, and a conglomerate?

    		•