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Read the scenario, then answer the questions: A college student is considering buying a new laptop. The laptop costs 400 and is expected to last 5 years. The student estimates that the laptop will save them 100 hours working on homework assignments at the college computer tab. What is considered a cost? square v What is considered a benefit? square How can the decision to buy the laptop be justified? square

Pergunta

Read the scenario, then answer the questions:
A college student is considering buying a new laptop. The
laptop costs 400
and is expected to last 5 years. The
student estimates that the laptop will save them 100 hours
working on homework assignments at the college computer
tab.
What is considered a cost? square  v
What is considered a benefit? square 
How can the decision to buy
the laptop be justified?
square

Read the scenario, then answer the questions: A college student is considering buying a new laptop. The laptop costs 400 and is expected to last 5 years. The student estimates that the laptop will save them 100 hours working on homework assignments at the college computer tab. What is considered a cost? square v What is considered a benefit? square How can the decision to buy the laptop be justified? square

Solução

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ArturMestre · Tutor por 5 anos

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1. The cost is the price of the laptop, which is $400.<br />2. The benefit is the estimated 100 hours of saved time on homework assignments.<br />3. The decision to buy the laptop can be justified if the benefit (100 hours of saved time) is greater than the cost ($400).

Explicação

1. In economics, a cost is any expenditure that is incurred in order to obtain a good or service. In this scenario, the cost is the price of the laptop, which is $400. This is a direct cost, as it is the amount the student has to pay to acquire the laptop.<br />2. A benefit, on the other hand, is the value or advantage that is gained from a particular action or decision. In this case, the benefit is the estimated 100 hours of saved time on homework assignments. This is an indirect benefit, as it is not a direct monetary gain but rather a saving of time and effort.<br />3. The decision to buy the laptop can be justified by comparing the cost and the benefit. If the benefit (100 hours of saved time) is greater than the cost ($400), then the decision to buy the laptop is justified. This is because the student would be saving more in terms of time and effort than they would be spending on the laptop.
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