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

Author Question: An efficient allocation of resources is reached in the figure above when output equals A) 1 ... (Read 88 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 29, 2018
An efficient allocation of resources is reached in the figure above when output equals
 
  A) 1 million.
  B) 2 million.
  C) 3 million.
  D) 4 million.

Question 2

Explain how it might be possible to discuss costs of production of a good or service without using monetary values.
 
  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

xiaomengxian

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

All costs are essentially opportunity costs. That is to say that it is simply the value of the next best available alternative. Therefore, it is possible to discuss costs without mentioning monetary costs by analyzing what was given up to produce a good or a service.


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 29, 2018
Gracias!

pratush dev

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

(A) The nine regions of the abdominopelvic cavity. (B) The four regions of the abdomen, which are re (A) The nine regions of the abdominopelvic cavity. (B) The four regions of the abdomen, which are re
Solar output Solar output
Metallic Resources Metallic Resources
The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ... The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ...
The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ... The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ...
How much voltage does the resistor drop in Figure 10-2? a. 59 mV b. 19.94 V c. 20 V d. 10 V How much voltage does the resistor drop in Figure 10-2? a. 59 mV b. 19.94 V c. 20 V d. 10 V
Video: Splitting of Sugar, Oxidation/ Reduction & ATP Generation

For a complete list of videos, visit our video library