Question 12 The cost of postponing the Tokyo Olympics to 2021 in the wake of the COVID-19 virus outbreak ____ an opportunity cost of hosting the 2020 Olympic Games ____. a. is; if the costs of the Tokyo postponement are equal to a significant percentage of the total amount spent by Tokyo taxpayers to host the 2020 Olympics b. is not; because few people attending the 2020 Olympics will spend much time outside Olympic venues c. is; if the cost of postponing the Tokyo games would not occur unless Tokyo was hosting the 2020 Olympic games d. is not; because the cost of postponing the Tokyo Olympics is a necessary expense
Added by Tawana B.
Close
Step 1
In this case, the opportunity cost of postponing the Tokyo Olympics to 2021 would be the benefits that could have been gained if the Olympics were held in 2020 as planned. These benefits could include revenue from ticket sales, tourism, sponsorships, and Show more…
Show all steps
Your feedback will help us improve your experience
Crystal Wang and 56 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
TRAVELING During the 2008 Olympics held in Beijing, China, the cost of some hotel rooms was 33 times greater than the normal charge of $\$ 42$ per night. What was the cost of such a room during the Olympics?
Whole which of Numbers
Multiplying Whole Numbers
The medal distribution of Olympic Games for the top 23 countries is shown below: Gold Silver Bronze USA Russia China Britain Find the probability that the winner won the SILVER medal, given that the winner was from BRITAIN. (Round up answer to two decimal places)
David N.
A city is hit by an Asian flu epidemic. Officials estimate that $t$ days after the beginning of the epidemic the number of persons sick with the flu is given by $p(t)=120 t^{2}-2 t^{3},$ when $0 \leq t \leq 40 .$ At what rate is the flu spreading at time $t=10 ; t=20 ; t=40 ?$
The Derivative
Two Problems with One Theme
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD