Author Question: In a competitive economy with no government sector: a. goods with spillover benefits will not be ... (Read 66 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
In a competitive economy with no government sector:
 a. goods with spillover benefits will not be produced at all.
  b. there will be too few public goods produced.
 c. goods with spillover costs will be underproduced.
 d. too few resources be allocated to each industry.

Question 2

Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. Which of the following exchange rates between apples and oranges would allow both Alpha and Omega to gain by specialization and exchange?
 a. 1 ton of apples for 3 tons of oranges
  b. 3 tons of apples for 3 tons of oranges
  c. 2 tons of apples for 3 tons of oranges
  d. 1 ton of oranges for 0.2 tons of apples



gcook

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

b

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

For a complete list of videos, visit our video library