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Author Question: Refer to Scenario 4 . What is the opportunity cost of building one more prison? What will be an ... (Read 79 times)

cdr_15

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on: Jun 29, 2018
Refer to Scenario 4 . What is the opportunity cost of building one more prison?
 
  What will be an ideal response?

Question 2

Rate of return regulation sets the price at a level that enables the regulated firm to earn a specified target percent return on its
 
  A) total cost.
  B) sales revenue.
  C) capital.
  D) variable cost.


ankilker

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The opportunity cost of building one more prison is two schools. This is gleaned from the fact that the opportunity cost of 5 prisons is 10 schools or 5P = 10S. Solving for P leaves you with 2S or two schools

Answer to Question 2

C


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