Question

What is President Trump's opportunity cost for becoming president instead of running his business? How would...

What is President Trump's opportunity cost for becoming president instead of running his business? How would you measure his marginal revenue product?

Please write one full paragraph.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Here, we cannot show everything in quantitative terms as by becoming the president he also gains power of national decsion making which is on a large scale as compared to his business. The opportunity cost, might be the salary lost assuming his business is profitable, and the perks of taking independent decisions. The marginal revenue product= Marginal product* Marginal revenue. So, this depends on the increase in the output and revenue of USA by trump's becoming of a president. You can keep these points in view while writing the paragraph

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Link has a business selling swords he has collected on his various journeys. He determines his...
Link has a business selling swords he has collected on his various journeys. He determines his marginal revenue to be ?′(?) where ? is the number of swords he sells, while ?′(?) is his marginal cost. Write a sentence that indicates the meaning of the expression ∫ (? ′ (?) − ? ′ (?)) 15 10 ??. Be as specific as possible. Is it possible for ∫ (? ′ (?) − ? ′ (?))?? 15 10 to be negative? Write...
Discussion Questions: 1. If opportunity cost is more intellectually satisfying way of measuring costs of an...
Discussion Questions: 1. If opportunity cost is more intellectually satisfying way of measuring costs of an action than accounting cost, why do businesses use accounting cost? 2. Many people agree that corporations should be socially responsible. However, Milton Friedman denied the social responsibility of corporations by saying that the only corporate responsibility is to make profit. Who is right? Why? 3. President Trump promises to lower business taxes to a level comparable to some of the lowest business taxing states...
1.Suppose you are running your own flower delivery business (called Here Comes the Bloom) and have...
1.Suppose you are running your own flower delivery business (called Here Comes the Bloom) and have the following financial information (per year): total revenues from sales are $260,000, labor costs are $85,000, rent is $20,000, materials are $33,000, vehicle related costs (fuel, insurance, maintenance) are $10,000 and utilities are $7,000. You own the delivery van and could rent it out for $6,000 per year if you weren’t using it to run your own business. You have a standing offer to...
President Trump announced today, May 31, 2018, that his administration would impose tariff on Steel &...
President Trump announced today, May 31, 2018, that his administration would impose tariff on Steel & Aluminum products entering the US from Mexico, Canada, China and the European Union (EU). What are tariffs? Why are they imposed? If the referenced countries retaliate, how would it affect US consumers, companies and the US economy in general? In answering these questions and, to receive full credit, please view the Youtube Videos on tariffs and reference a couple of them
Would you rather have efficiency or variety? That is, one opportunity cost of the variety of...
Would you rather have efficiency or variety? That is, one opportunity cost of the variety of products we have is that each product costs more per unit than if there were only one kind of product of a given type, like shoes. Perhaps a better question is, “What is the right amount of variety? Can there be too many varieties of shoes, for example?”
Johnny Mobile started a food truck business in 2017 by investing $100,000 of his own money...
Johnny Mobile started a food truck business in 2017 by investing $100,000 of his own money in the corporation in exchange for stock. Mr. Mobile concentrates on serving Lobster Rolls and his profits have more than doubled from 2017 – 2019. Mr. Mobile does not understand why his profits have increased faster than his volume, but he believes that his focus and strategic positioning regarding high levels of customer service and product quality have helped fuel this growth in his...
Assume that you would like to invest in a company.Required:a)What is your cost object(5pts)? (Do not...
Assume that you would like to invest in a company.Required:a)What is your cost object(5pts)? (Do not define cost object; please write down the item or service that you want to produce and sell)b)What is the Direct Materialof your product or service(5pts)?c)What are the overhead costs of your product or service(5pts)?d)Assume that you would liketo assign overhead costs to your product or service. Which method you would prefer to use for assigning overhead costto your product or service(In other words,how do...
What is your opportunity cost of attending classes on campus? For the purposes of keeping things...
What is your opportunity cost of attending classes on campus? For the purposes of keeping things simple, focus on finding the opportunity cost, expressed as a dollar amount of your opportunity cost of attending a one-hour class on campus. First, find all your alternatives to attending class. Then assign a dollar value to each alternative. Next rank your alternatives, and last, based on the highest ranked alternative, share your opportunity cost. Since you have made the decision to take this...
Please give different answer, thank you. 1) What is your opportunity cost of taking Principle of...
Please give different answer, thank you. 1) What is your opportunity cost of taking Principle of Economics? How does the role of scarcity influence decisions that you have to make? 2) Assume that you were a small country, what would you rather have a comparative or absolute advantage with trading? Explain your reasoning.
President Trump campaigned on the promise to "Make America Great Again". Part of this program to...
President Trump campaigned on the promise to "Make America Great Again". Part of this program to make America Great Again relies on bringing jobs back to the US from manufacturing that is now being done in foreign countries. His plan for doing so is in its early stage of development and is likely to include taxes/tariffs on foreign goods and manufacturers, as well as quotas (restrictions on the amount of goods that can be imported). Use the Production Possibilities Frontier...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT