Every society faces trade-offs because we live in a world of scarcity. suppose a student-athlete has the opportunity to earn $1,000,000 next year playing for a minor league baseball team, $300,000 next year playing for a european professional football team, or $0 returning to college for another year. the opportunity cost of the student-athlete returning to college next year

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.