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

Author Question: In the above figure, if no government intervention occurs, at the unregulated competitive market ... (Read 139 times)

jwb375

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
In the above figure, if no government intervention occurs, at the unregulated competitive market equilibrium, there is an
 
  A) external marginal benefit of 2.
  B) external marginal cost of 2.
  C) external marginal benefit of 1.
  D) external marginal cost of 3.

Question 2

Explain the economic concept of opportunity cost.
 
  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

apple

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

The opportunity cost of something is the best alternative that we give up when we make a choice or a decision.


jwb375

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jun 29, 2018
Correct answers!


apple

  • Sr. Member
  • ****
  • Posts: 352
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

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.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

A melanistic jaguar is a colour morph which occurs at about 6% frequency in populations. A melanistic jaguar is a colour morph which occurs at about 6% frequency in populations.
Compression Occurs in vertebrae subjected to extreme stresses, as when one falls and lands on his or Compression Occurs in vertebrae subjected to extreme stresses, as when one falls and lands on his or
Effect of pH on drug absorption: (a) a weak acid such as aspirin (ASA) is in a nonionized form in an Effect of pH on drug absorption: (a) a weak acid such as aspirin (ASA) is in a nonionized form in an
Biosynthesis of methionine and threonine from homoserine, as it occurs in plants and bacteria Biosynthesis of methionine and threonine from homoserine, as it occurs in plants and bacteria
Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق" Plan of Trajan's Forum and Market "خطة منتدى ترجان والسوق"
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Krebs cycle : Formation of acetyl coenzyme A and Electron transport chain

For a complete list of videos, visit our video library