Joe sold gold coins for $1000 that he bought a year ago for $1000. He says, "At least I didn't lose any money on my financial investment." His economist friend points out that in effect he did lose money, because he could have received a 3 percent return on the $1000 if he had bought a bank certificate of deposit instead of the coins. The economist's analysis in this case incorporates the idea of:

From the question, we are informed that Joe sold gold coins for $1000 that he bought a year ago for $1000 and he said that at least he didn't lose any money on my financial investment.

We are further told that his economist friend points out that in effect he did lose money, because he could have received a 3 percent return on the $1000 if he had bought a bank certificate of deposit instead of the coins.

This is a concept of opportunity cost. Opportunity cost is what one forgoes when one makes a different choice. The opportunity cost in this case is the bank certificate of deposit.

damienw117 damienw117 · Answer 2 · 2020-12-18T18:06:09+01:00

damienw117 damienw117

18-12-2020

Answer:

298143

step-by-step explanation:

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Answer from: Quest

step-by-step explanation:

x^2 -12x + 36 + y^2 = 36

x^2 + y^2 = 12x

r^2 = 12rcos(theta)

r = 12 cos(theta)

Explanation:

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