Author Question: Review the following statement. He who has choice has pain. What is meant by this? What will be ... (Read 32 times)

mrsjacobs44

  • Hero Member
  • *****
  • Posts: 500
Review the following statement. He who has choice has pain. What is meant by this?
 
  What will be an ideal response?

Question 2

If the natural monopoly shown in the figure above is unregulated, then consumer surplus will be
 
  A) 0.
  B) 4 million.
  C) 8 million.
  D) 16 million.



polinasid

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

He who has choice has pain refers to the sad but unavoidable fact that whatever we decide to do is going to have a cost. If we decide to buy a hamburger it means we can't buy a chicken sandwich. The sentence is primarily focused on the idea that all choices involve opportunity costs.

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

For a complete list of videos, visit our video library