« previous next »

Author Question: In the spring, I enjoy the fragrance coming from my neighbors' flowers. The fragrance is is an ... (Read 101 times)

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
In the spring, I enjoy the fragrance coming from my neighbors' flowers. The fragrance is is an example of
 
  A) a negative externality.
  B) a private good.
  C) the need for antitrust legislation.
  D) a free rider problem.

Question 2

Explain what is meant by economic efficiency. Does efficiency imply that the fastest production processes or the most powerful equipment must always be used? Explain.
 
  What will be an ideal response?


phuda

  • Sr. Member
  • ****
  • Posts: 348
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

Efficiency involves a situation in which a given output is produced at lowest cost. Consequently, the fastest-operating or most powerful equipment may not always be efficient.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Guo Xi, Early Spring. Guo Xi, Early Spring.
As their numbers grow and their resources and health improve, the elderly will enjoy life more and ... As their numbers grow and their resources and health improve, the elderly will enjoy life more and ...
Spring for the Crane and Deer. Beginning position: Legs straight and together, arms at sides of ... Spring for the Crane and Deer. Beginning position: Legs straight and together, arms at sides of ...
The position of an object that is oscillating on a spring is given by the equation x = (18.3 ... The position of an object that is oscillating on a spring is given by the equation x = (18.3 ...
Wild-type flowers of Arabidopsis Wild-type flowers of Arabidopsis
Spring homework Spring homework
Video: Transmission Across a Synapse

For a complete list of videos, visit our video library