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

Author Question: Alternate Outputs from One Day's Labor Input: United States: 12 bushels of wheat or 3 yards of ... (Read 120 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
on: Jun 30, 2018
Alternate Outputs from One Day's Labor Input: United States: 12 bushels of wheat or 3 yards of textiles. Great Britain: 3 bushels of wheat or 12 yards of textiles. The opportunity cost of one bushel of wheat in Great Britain is
 a. 1 yard of textiles.
 b. 3 yards of textiles.
 c. 12 yards of textiles.
  d. 4 yards of textiles.

Question 2

Private solutions often are not possible due to the costs of negotiating and enforcing these solutions. Such costs are called:
 a. transaction costs.
 b. external costs.
 c. deadweight losses.
  d. social costs.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

samiel-sayed

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


kaid0807

  • Member
  • Posts: 515
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

diana chang

  • Member
  • Posts: 288
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Countries of Origin of Unauthorized Immigrants to the United States Countries of Origin of Unauthorized Immigrants to the United States
A fuel pump in a farming area that clearly states the red diesel fuel is for off-road use only ... A fuel pump in a farming area that clearly states the red diesel fuel is for off-road use only ...
States that require licensing or certification. Graphic provided by Associated Bodywork & ... States that require licensing or certification. Graphic provided by Associated Bodywork & ...
Sympatric Speciation in Wheat Sympatric Speciation in Wheat
Regulatory effects of the vascular endothelium in normal and pathologic states Regulatory effects of the vascular endothelium in normal and pathologic states
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library