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 196 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?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Much time and effort occurs between the development of a research idea and the statistical analysis Much time and effort occurs between the development of a research idea and the statistical analysis
front muscle figure front muscle figure
Figure and Ground Figure and Ground
Stock Market Tracks Growth in GDP Stock Market Tracks Growth in GDP
If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance? If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance?
Iraqi market Iraqi market
Video: Bone cells and tissues - tissue composition and cells

For a complete list of videos, visit our video library