This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Refer to Figure 5-6. What does D2 represent? A) the demand curve reflecting marginal social ... (Read 83 times)

@Brianna17

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
Refer to Figure 5-6. What does D2 represent?
 
  A) the demand curve reflecting marginal social benefits
  B) the positive externalities curve
  C) the demand curve reflecting marginal private benefits
  D) the social welfare curve

Question 2

Based on Scenario 1 above critically evaluate the following statement. Because of the productivity differential between the two men we can conclude that the young man has a comparative advantage in the production of everything over the older man.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mammy1697

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

This statement is not true. Comparative advantage is achieved by being able to produce a good or service at a lower opportunity cost than someone else can. Here the only information that we have is that the young man is more productive than the older man. This isn't sufficient information to conclude that he has a comparative advantage in the production of everything.


@Brianna17

  • Member
  • Posts: 550
Reply 2 on: Jun 29, 2018
Gracias!

pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a Structure of the ovary and uterine (fallopian) tube. Figure illustrates stages of ovum development a
Attachment security correlates with later social competence. Attachment security correlates with later social competence.
Vienna: Social Structure and Social Interaction Vienna: Social Structure and Social Interaction
When a Tornado Strikes: Social Organization Following a Natural Disaster When a Tornado Strikes: Social Organization Following a Natural Disaster
Social Conditions in China Social Conditions in China
The Radioactive Decay Curve The Radioactive Decay Curve
Video: Embryonic development - week 1 and 2

For a complete list of videos, visit our video library