76 787
Assignments Done
Successfully Done
In June 2019

Answer to Question #55233 in Microeconomics for urmat

Question #55233
You win \$100 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent
interest. What is the opportunity cost of spending the \$100 now?
Expert's answer
In one year I get $105, so if I spend $100 now, without putting it in a bank account, the opportunity cost of such step is $105-$100=$5.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question

Privacy policy Terms and Conditions