--%>

Define subjective opportunity cost for the Mercedes

Can someone explain me with excellent solution about problem of economic concept of Opportunity Cost...

If you exchange your Audi for a race horse you hate, and exchange the race horse for 100 shares of gold-mine stock you believe worthless, that you then trade for a diamond ring even if you dislike jewellery, and subsequently you swap the ring for a Picasso you believe is ugly, that you exchange for the Mercedes which was your only goal within all such deals, your subjective opportunity cost for the Mercedes was your satisfaction or say enjoyment of the: (1) Picasso painting. (2) Diamond ring. (3) Shares of mining stock. (4) Race horse. (5) Audi.

   Related Questions in Public Economics

  • Q : Use of relative prices not inclde by

    Please help me to solve the problem of economics that is given below: The functions of prices do not contain the use of relative prices like: (w) rationing devices. (x) mediums of exchange. (y) inf

  • Q : Combination of land People who seek

    People who seek gains and bear risks and improbability while they combine land, capital and labor in productive ways is: (i) socialists. (ii) sole proprietors. (iii) professional managers. (iv) entrepreneurs. (v) bureaucratic capitalists.

  • Q : Characteristics of Private property and

    I have a problem in economics on the Characteristics of Private property and laissez faire policies. Please help me in the following question. Private property and laissez faire policies are characteristics of: (1) Fascism. (2) Socialism. (3) Monarchy

  • Q : Maximization of complete value of

    Maximization of the complete value of output from a fixed amount of resources gives in: (i) Opportunity cost. (ii) Economic efficiency. (iii) Potential profitability. (iv) Comparative benefit. (v) Scarcity. How can I solve my

  • Q : Why are Land Land, labor, and capital

    Land, labor, and capital are all scarce since: (w) human wants are restricted. (x) less is obtainable than people want. (y) each productive resource needs a monetary return for its use. (z) once employed they cannot be used again.

    Q : Determine when a good is scarce A good

    A good is scarce when: (1) individuals are willing to pay a positive price for more of this. (2) this is socially but not individually beneficial. (3) individuals are willing to pay to have this not produced. (4) more is obtainable at

  • Q : Entails of a technical approach to

    A technical approach to economics entail: (1) positive questions since this cannot resolve normative matters. (2) normative questions since this cannot resolve positive matters. (3) positive and normative questions since this can resolve all matters.

  • Q : Basic economic questions NOT included

    The three basic economic questions do NOT include: (w) What?, (x) For whom?, (y) Where? and (z) How? Can someone explain me with about above problem of fundamental economic concept...

  • Q : Illustrate an economics problem of

    Assume that Michael Jordan purchases the New Jersey Nets basketball franchise and, expecting an explosion of sales at his car dealerships, he instructs two hundred new extra Toyotas. By an economic perspective, his buy of the Nets franchise is: (w) smart marketing str

  • Q : Explain about the Opportunity Cost in

    Opportunity cost is explained as the value of the: (w) best alternative specified for the decision made. (x) sum of all alternative choices while a decision is made. (y) monetary cost of making a decision. (z) cost incurred while one ignores alternati