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Author Question: Give an example of how money functions as a unit of account. What will be an ideal ... (Read 101 times)

genevieve1028

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on: Jun 29, 2018
Give an example of how money functions as a unit of account.
 
  What will be an ideal response?

Question 2

Suppose two individuals, Pooh and Piglet, desire protection (provided by Tigger) for their community, The Hundred Acre Wood, from heffalumps. Protection is a public good.
 
  The marginal cost of protection as well as Piglet's and Pooh's marginal benefits from protection are in the table above. What is the quantity of protection that achieves the maximum net benefit? A) 1 hour per day
  B) 2 hours per day
  C) 3 hours per day
  D) 4 hours per day


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bigsis44

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

Money functions as a unit of account when it is used to in a price. For instance, a price of 60 dollars for a purse shows how the price of the purse is being measured in units of money.

Answer to Question 2

C


genevieve1028

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Reply #2 on: Jun 29, 2018
Correct answers!


bigsis44

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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