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Housing Bubble Due

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    The opportunity cost of one alternative as the forgone opportunity to earn profit from the other. The opportunity cost is what we give up to pursue it. If I made the decision to go to the Bruce Springiness concert and not the UH concert my opportunity cost would be $20 because the my next best alternative to the Bruce Springiness concert is the IIS concert. The 1. 12 concert has a benefit of $1 00 and a cost of $80 so the net benefit is $20. The net benefit is what you are giving up in order to attend the Springiness concert. The opportunity cost Of seeing the Bruce Springiness concert is $20. 3-3.

    Housing Bubble Due to the housing bubble, many houses are now selling for much less then their selling price just two or three years ago. There is evidence that homeowners with virtually identical houses tend to ask for more if they paid more for the house. What fallacy are they making? Homeowners that have a higher asking price just because they paid more for the home are making a fixed cost fallacy or a sunk cost fallacy. This is when irrelevant costs are considered. 3-5. Struck Struck is hoping to make use of its excess restaurant capacity in the evening by experimenting with selling beer and wine.

    It speculates that the only additional costs are hiring more of the same sort of workers to cover the additional hours and costs of the new line of beverages. What hidden costs might emerge? When a restaurant sells alcohol there are several hidden costs that may arise that the management may have not anticipated. First if all, alcohol causes people to get drunk and that has a tendency to cause problems. Another hidden cost that may emerge is spending more money on security personnel and surveillance cameras and costs.

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    Housing Bubble Due. (2018, Feb 04). Retrieved from https://graduateway.com/managerial-economics-18/

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