Select the correct text in the passage.
What is the opportunity cost in this scenario?
Mikael has saved $4,000 for his trip to Brazil. He has calculated that his total transportation expenses will be $1,000. The hotel will cost him
another $1,500. He will spend about $500 on food. He plans on spending the remaining $1,000 for sightseeing and buying souvenirs.
While booking his plane ticket, he realizes that the price has gone up. His total transportation expenses will go up by $200. He realizes that he
cannot cancel his hotel reservation. He also doesn't want to go cheap on food. Finally, he decides to give up visiting the popular Ouro Preto
during his stay in Brazil.

Answers

Answer 1

Answer:

All the cost sums up to $4,000 when there is no extra charge. In this case, the opportunity cost is the same with the total cost. In this case Mikael is willing to forgo $4,000 for this opportunity and it makes his opportunity cost. However, since the transportation expenses become $1,200 instead of $1,000. We don't know exactly he buys this ticket or not, but since it is said that "while he was booking", we have to consider that he buys the ticket. The hotel costs $1,500 and it cannot be redeemed. However, $2,700 is a sunk cost, not an opportunity cost. Because in this case, Mikael does not have any alternative. He gave up from his decision in the end.

Explanation:

Answer 2

The opportunity cost in this scenario is giving up visiting the popular Ouro Preto during his stay in Brazil. Mikael decides against going to the well-known Ouro Preto since he cannot change his hotel reservation and will not forgo good food.

Opportunity cost is the price of the next best option that is given up while making a choice. In this instance, Mikael has set aside a specified amount for travel, lodging, meals, and sightseeing/souvenirs as part of his vacation to Brazil. But his travel costs will increase by $200 as a result of the higher plane ticket price. Mikael needs to decide where to make budget cuts in order to account for this rise.

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Related Questions

What was Hamilton's plan for the economy and why did congress oppose it?

Answers

Answer:

Hamilton's plan for the new country's financial system had three major parts. Assuming the states' debts by issuing interest-bearing bonds was the first part of the plan.

Explanation:

Hamilton also instituted tariffs for imported goods as a way of raising federal revenue and helping domestic businesses

In what way are Richard Aoki and Wilma Mankiller alike?
O A. They are both leaders of black studies groups.
O B. They are both role models for their communities.
C. They are both known for helping people outside their
communities.
O D. All of the above

Answers

EXPLANATION: D. all of the above

Answer:

b. they are both role models for their communities

The question was “what does this graph show about the international cotton trade?” Any type of help works :)

Answers

over time, both the US and Britain increased in their consumption of cotton, but after 1820, lead consumer switched from the US to Britain.

this was just what came up off the top of my head after looking at the picture attached. let me know if this helped or at least made sense <3

Almost half of Japan's population is crowded onto ____.

Answers

Answer:

Densities are especially high in the urban corridor between Tokyo and Kobe, where 45 percent of the country's population is packed into only 17 percent of its land area.

Explanation:

who belongs to the middle class?

Answers

Answer:

huh?

Explanation:

Which Latin American country has the most free (from government control) economy?
(15 points)
A. Mexico
B. Brazil
C. Cuba

Answers

Answer:

I think Mexico, im not very sure tho

Explanation:

Answer:

I'm positive it's Mexico, A

Explanation:

Mexico has a 63.37 percent economic freedom rating, so i believe it's A

Which of the following statements is true regarding the work of archaeologists?

a. Archaeologists study only ancient human cultures.
b. All archaeologists work for universities.
c. Archaeologists will often work for engineering companies to excavate and study an area before a building is constructed.
d. Archaeological studies are usually carried out in a short period of time.

Answers

It’s either A or B

I’m not good but I’m pretty sure it’s one of those.

Answer:

Archaeologists will often work for engineering companies to excavate and study an area before a building is constructed.

Explanation:

A succession of rulers fritim the same family is called
O A) a dynasty
OB) a kingdom
C) a kinship
FL

Answers

Answer:

A dynasty

Explanation:

Dynasty refers to a sequence or succession of rulers from the same family or lineage. So, the same family or clan holds power for many years or generations. Maintaining a dynasty is usually and traditionally being associated with the ideas of power, privilege, fame, leadership, clan, and wealth.

which of the following Is related with the southern oscillation?​

Answers

Jetstream hope this helps out

In the 1800s, middle-class women in America had
few job opportunities.
many job opportunities.
many educational opportunities.
few chances to stay at home.

Answers

Answer:

few job opportunities

Explanation:

they didn't hade the same opportunities as men

Answer:

a

Explanation:

A problem that all four Mesopotamian empires had was difficulty in. PLZ ITS DUE TODAY
A. trading with other empires.

B. choosing strong leaders.

C. keeping track of their history.

D. controlling such a large area.

Answers

Answer:

D-Controlling such a large area

Explanation:

D - “controlling such a large area .”

Which of the following bodies of water borders Central Asia?
A.
the Sea of Japan
B.
the Caspian Sea
C.
Lake Balkhash
D.
the Amu Darya River

Answers

Answer:

I believe the answer is B. The Caspian Sea borders Central Asia.

Explanation:

Hope this helps! ^^

Answer: A The Caspian Sea

Explanation:

What was the Catholic Church the main source of?

Answers

As a branch of Christianity, Roman Catholicism can be traced to the life and teachings of Jesus Christ in Roman-occupied Jewish Palestine about 30 CE. According to Roman Catholic teaching, each of the sacraments was instituted by Christ himself.




(Simplify if needed)

how did the Nile river influence ancient Egypt crop schedule ​

Answers

Answer:

C

Explanation:

Correct !!

Answer:

d Crops were harvested when the Nile River was at its lowest point.

In what ways were the Middle Ages both light and dark?

Answers

Answer:

no middle age is not whiteand black sun is there in middle age and now also but the flims or movie were black and white beacuase they were not intelligent

Which sentence below is tariff used correctly? A. All states charge a tariff B. A tariff is charged to mail a letter C. Americans are required to pay a tariff at the airport D. A tariff was added to the Chinese imports.

Answers

Answer:

D. A tariff was added to the Chinese imports.

Explanation:

In economics, Tariffs refers to a additional amount that a company need to pay to gain permission to sell their product in a certain country.

This could be seen in option D.

Typically, Tariffs will increase the amount of price needed entering the market. Because of this, the company that imported the product had to increase the price of their product.  This will make the imported products seems more univariable by the local customers.

This is why  Tariff is generally an effective measure to help local businesses compete with foreign businesses.

Why was the library of alexandria important to hellenistic culture

Answers

It was where scholars from all over came to study.

how does confirmation bias lead to the spread of untrue information?

Answers

Answer: Media objectivity.

Explanation:

If a journalist does not present objective facts when reporting, this can lead to a wrong picture of society's situation. Therefore, in a democratic and civilized society, it is necessary for the media to be independent and for journalists to do their job responsibly and professionally. The media are often the creators of public opinion; for society to have validated, accurate and objective information, the media must be independent, and the journalist must be objective.

What animal did the ancient romans like to use in some of their art and architecture

Answers

Answer:

Wolves, bears, wild boar, deer and goats were native to Rome and other animals were introduced following conquests abroad. Elephants, leopards, lions, ostriches and parrots were imported in the 1st Century B.C. followed by the hippopotamus, rhinoceros, camel and giraffe.

Explanation:

What city is at 53°N, 50°E

Answers

Answer:

Samara in Russia

Explanation:

Samara is a large old city present in Russia.  The city is located near the two rivers i.e Volga and Samara rivers with an area of 541.382 square kilometres and population around 1.1 million.

The coordinates of the samara are:

latitude of Samara: 53° 14' 29.4180'' N or 53°

longitude of Samara: 50° 13' 16.4820'' E or 50°.

Since the question is asking about the city which is located at the coordinates of 53°N, 50°E, therefore, Samara is the correct answer.

Thus, Samara in Russia is the correct answer.

What was the outcome of the Battle of Baton Rouge?

The Union Army delayed Louisiana’s secession from the Union.
Confederate troops retreated along the river into New Orleans.
The Union Army defeated Confederate forces during the battle.
Confederate troops took control of the Mississippi River.

Answers

Answer:

d confederates took control of the mississippi river

Explanation:

If you do this you get 33 points have it done by 11:59.❤️

Answers

Answer:

Republic and its roles, duties, right of patrician ,and problem in the roman republic is explained below in detail.

Explanation:

Republic is a structure of government where the leader of the administration is elected by the citizens and is not an ancestral position. republics have a president who is chosen, rather than king or queen. a state in which the greatest authority rests in the fellow of citizens authorized to vote and is operated by a representative elected directly or indirectly by citizens.

Current republics are established on the concept that sovereignty holds with the people, though who is incorporated the Federal Republic.

Answer:

....123456

Explanation:

what do major religions have in common

Answers

Something that the five major world religions (Christianity, Judaism, Buddhism, Hinduism and Islam) have in common is a sense of community. A sense of community provides group cohesion and identity, as well as a way for rituals and traditions to be passed down from generation to generation.

help and plz dont answer if u dont know

Answers

Answer: The Himalayas

Explanation: I read it in history

Answer:

The Himalayas: Two continents collide. Among the most dramatic and visible creations of plate-tectonic forces are the lofty Himalayas, which stretch 2,900 km along the border between India and Tibet.

Explanation:

Hope this helps~ :D

if its wrong im sorry

During Washington's first term, political factions disagreed over which issue:
A - The nation's education system.
B - changing currency to gold.
C - ratification of the U.S. Constitution
D - Alexander Hamilton's financial program

Answers

Answer:

C - ratification of the U.S. Constitution

Explanation:

The founding fathers did not have much experience in government by the time they're creating the early draft of the constitution.

During Washington's term, many officials realize that the constitutions left out a lot of powers that should be belonged to the central government (such as the power to mobilize military and impose taxes)

So, some of those officials proposed that they should made ratification to the constitution.

Not all officials supported this. So, the government was divided into two factions, One faction supported the ratification of the constitution while the other rejected the idea.

1.What is the elevation at point A?
2.What is the elevation at point B?
3.What is the relief between points A and B?

Answers

Answer:

(3)  The relief between points A and B

Explanation:

May 9th.

Our lawful (?) owners have at last arrived. About sunset, day before yesterday, the Iroquois anchored here, and a graceful young Federal stepped ashore, carrying a Yankee flag over his shoulder, and asked the way to the Mayor's office. I like the style! If we girls of Baton Rouge had been at the landing, instead of the men, that Yankee would never have insulted us by flying his flag in our faces! We would have opposed his landing except under a flag of truce, but the men let him alone, and he even found a poor Dutchman willing to show him the road!

–A Confederate Girl’s Diary,

Sarah Morgan Dawson

Based on this passage, what is Dawson’s opinion of the women of her community?

She believes that they are stronger than the men in her area.
She thinks that they are weaker than men and easier to control.
She believes that most of them side with the Union in the conflict.
She thinks that they do not understand the situation the South faces.

Answers

Answer:

She believes that they are stronger than the men in her area.

Explanation:

Answer:

It's A.

Explanation:

It was the year Muhammad became the spiritual and political leader of mo
Which of the following are teachings contained in the Qur'an? Select
three correct answers,
Muslims cannot own slaves.
People cannot convert to Islam.
Muslims cannot eat pork or drink alcohol.
Muslims must wash themselves before praying
People will not be punished for disobeying God.
Women have the right to own property, earn money, and get an education.

Answers

Answer:

Muslims cannot own slaves.

Muslims cannot eat pork or drink alcohol.

Muslims must wash themselves before praying .

Women have the right to own property, earn money, and get an education.

Explanation:

As we can see there are four correct answers, as Muslims cannot own slaves. If they have them, they must release them. It is forbidden to drink alcohol or to eat pork.

Washing before praying is necessary to be pure in front of the God.

Woman have many rights including those above.

What is the term given to a political party's statement of principles?

1)Ideas

2)Goals

3)Doctrines

4)Platform

Answers

Doctrines I think the answe might be that

Answer:

a platform

Explanation:

Think of a moment in history from the first American Civilizations to the formation of the colonies in North America, that has impacted you. Make a drawing of that historical moment and explain what your drawing is about and why it impacted you.

Can someone please help me I’m horrible when it comes to social studies
You don’t have to make a drawing you can just put a photo if you want...

Answers

I think the mystery of Roanoke might fit into this project. Your drawing could be of a wooden post with “croatoan” carved into to symbolize the clue left behind. You callus also draw a boat to symbolize the govner of of the new Clooney (John white) sailing away to find supplies. When he came home to his colony everyone was gone and all that was left was the wooden post with the carvings.
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