Answer:
The opportunity cost is the income earned from her balance on savings account at the interest rate of 3% per year that Reece would received if she had not opened her owned brewery business. This opportunity cost is $600 per year.
Explanation:
Please find the below for further explanation and calculations:
The opportunity cost per one year = Income earned on saving account per one year = 20,000 x 3% = $600;
The reason why it is an opportunity cost is because as a result of opening brewery business, Reece sacrifices the income earned on this saving, instead, she contributes the saving fund to her brewery business.
Answer:
(a) rr: 1/3, cr: 0.5, m:1.8 M: 1800
(b) 1500
(c) 200
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Answer: Both A and C
Explanation:
The Phil's filling gas station operates on a highway was solo in that area and had no other gas stations nearby.It enjoyed the profit .
Sooner a new gas station opened near Phil's gas station.The profit of the Phil's gas station started decreasing. This was because the it has to lower prices to increase its demand and as there were substitutes available in the market now, people moved to another gas stations for their need.
Both of the cases will decrease its profit.
