What is the opportunity cost in this scenario?
Mikael has saved $4,000 for his to 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

The opportunity cost in this scenario is Sightseeing.

The Opportunity Cost in this scenario will be the amount of  $1,000 that has been made available for  sightseeing and buying souvenirs.

Opportunity Cost is an alternative forgone which a person or an individual give up or forgone  in order to choose  other available alternative when making a  decision  which inturn may  result in  the loss of  gain  that would have been derived  if the alternative forgone was  choosing.

Example of opportunity cost is  giving up

on buying movies tickets for a textbook.

Therefore the opportunity cost in this scenario is Sightseeing.

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Related Questions

The Escobar family went on a car trip. They drove 100 miles on country roads and 240 miles on the highway. They drove 50% faster on the highway than on the country roads. Let r represent their rate on country roads in miles per hour. a. Write and simplify an expression that represents the number of hours it took the Escobar family to complete their trip in terms of r. (Hint: 50% faster means 150% of the original rate.) b. Find their total travel time if they drove the posted speed limit.

Answers

Answer: Hey I'm sorry I didn't get to answer your question it's just that I need the points because I don't have enough to get help with my question. I hope you get the answer that you need for you question. Good Luck :)..

Explanation:

The expression that represents the number of hours it took the Escobar family to complete their trip in terms of r is 260/r

The expression for the total time of travel?

Let r represent their rate on country road and R represent their rate on highway.

So, we have:

R = (100% + 50%) * r

Evaluate

R = 1.5r

Rate is calculated using:

Rate = Distance/Time

So, we have:

r = 100/t and R = 240/T

Make T and t the subject

t = 100/r and T = 240/R

The total time of travel is:

Total = t + T

So, we have:

Total = 100/r + 240/R

Substitute R = 1.5r

Total = 100/r + 240/1.5r

Simplify

Total = 100/r + 160/r

Evaluate the sum

Total = 260/r

The total time of travel

The speed limit is 40mph

This means that:

r = 40

In (a), we have:

Total = 260/r

Substitute 40 for r

Total = 260/40

Evaluate

Total = 6.5

Hence, their total time of travel is 6.5hours

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Depth perception is not important in determining proper following distance.

A. True
B. False

Answers

The answer to this is false

Depth perception is not important in determining proper following distance is the false statement.

What is lack of depth perception?

The brain is able to integrate both images into a single 3-D image in a process called stereopsis. With the help of this information, it is possible to calculate both the distance between the items and their distance from one another.

Thus, the statement is not true.

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how many chapters are there in the Bible?​

Answers

there are 66 chapters in Bible

[tex]-2xy^2(x^3y-2x^2y^2+5xy^3[/tex]

Answers

[tex]\boxed{\sf a(b+c+d)=ab+ac+ad}[/tex]

[tex]\\ \sf\longmapsto -2xy^2(x^3y-2x^2y^2+5xy^3)[/tex]

[tex]\\ \sf\longmapsto -2x^4y^3+4x^3y^4-10x^2y^5[/tex]

Hope it helps

How do you grow rice

Answers

Answer:

put some rice in a pot

Then mix it up with some sauce

pour in some dirt

and you'll get some sweet plant

Explanation:

Ideally, you need at least 40 continuous days of warm temps over 70 F. (21 C.) to grow rice.

First, you need to find one or several plastic containers without holes. One or several depends upon how many miniature pseudo rice paddies you want to create. Next, either purchase rice seed from a gardening supplier or buy long grain brown rice from a bulk foods store or in a bag. Organically grown rice is best and it can’t be white rice, which has been processed.

Fill the bucket or plastic container with 6 inches (15 cm.) of dirt or potting soil. Add water up to 2 inches (5 cm.) over the soil level. Add a handful of the long grain rice to the bucket. The rice will sink to the dirt. Keep the bucket in a warm, sunny area and move it to a warm place at night.

Rice plants don’t need too much care from here on out. Keep the water level at 2 inches (5 cm.) or so above the dirt. When the rice plants are 5-6 inches (12.5-15 cm.) tall, increase the water depth to 4 inches (10 cm.). Then, allow the water level to lower on its own over a period of time. Ideally, by the time you harvest them, the plants should no longer be in standing water.

If all goes well, rice is ready to harvest in its fourth month. The stalks will go from green to gold to indicate it is time to harvest. Harvesting rice means cutting and gathering the panicles attached to the stalks. To harvest the rice, cut the stalks and allow them to dry, wrapped in a newspaper, for two to three weeks in a warm, dry place.

Once the rice stalks have dried, roast in a very low heat oven (under 200 F./93 C.) for around an hour, then remove the hulls by hand. That’s it; you can now cook with your very own home grown, long grain brown rice.

Which group represents external customers of an organization

Answers

The buyer of the company's products and services. :)

Why do you believe the concerns around smartphones were identified as responsibilities and not dilemmas?

Answers

Smartphones were created by humans and therefore the concerns that arise from them should be our responsibility. I don’t know how they would be consider dilemmas.

Carrying a load of 100 pounds can reduce your cars fuel efficiency by ?

Answers

Answer: 1%

Explanation:

"According to the Environmental Protection Agency, each additional 100 pounds on a vehicle can reduce its fuel efficiency by 1%. Carrying open cargo (i.e., on flatbeds) is also less fuel-efficient than carrying cargo inside a closed truck."

true or false
1. The computers of all the five generations have different properties.​

Answers

Answer:

The answer to your question is true

Indeed the answer is true

One of the five reasons young drivers, age 16 to 20 are involved in more
collisions than older drivers is _______
pressure.
A. peer
B. school
C. night

Answers

Answer:

A

Explanation:

because their friends can be drinking in the car and says to the driver will u like to drink and persuading which will lead to him being drunk

Peer pressure because that’s the only word that fits.

Which model best shows the movement of oxygen during photosynthesis?
Plant
Ò A. Atmosphere
O B. Soil - Plant
C. Plant - Soil
D. Plant - Atmosphere

Answers

D. Plant - atmosphere
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