Ishmael has four potential jobs to consider, each with different salary offers. From highest to lowest, the salaries are: $58,500, $57,000, $56,000, and $53,000. Based on the information provided, what is the opportunity cost of Ishmael accepting the position that pays $56,000

highest paying position

Explanation:

In the field of economic, "opportunity cost" may be defined as the loss of the potential gain from among the alternatives that were provided when one of the alternatives were chosen over the other alternatives. In other words, it is the loss of a benefit for a person who could have enjoyed if that person would have not taken the choice.

Opportunity cost helps to make decisions properly.

In the context, Ishmael has been offered four potential jobs  from highest salary to lowest salary. Based on this information, the opportunity cost of Ishmael  to accept the position which pays him $56,000 is the highest paying job.

answer; the inspector may have found some violation that could cause death or some kind of serious injury;

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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