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Author Question: By human capital, economists mean A) machines that replace humans. B) machines engineered to ... (Read 151 times)

hbsimmons88

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on: Jun 29, 2018
By human capital, economists mean
 
  A) machines that replace humans.
  B) machines engineered to avoid operator injury.
  C) the accumulated skill and knowledge of humans.
  D) humans who perform repetitive tasks.

Question 2

To find the economy's marginal social benefit curve for a public good, we sum the individual marginal benefit curves horizontally. True or false? Explain.
 
  What will be an ideal response?


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chem1s3

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

The statement is false. To find the economy's marginal social benefit curve of a public good, we sum the individual marginal benefit curves vertically because we need to obtain the sum of what everyone together is willing to pay for each unit of a public good.


hbsimmons88

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

tkempin

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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