« previous next »

Author Question: In the spring, I enjoy the fragrance coming from my neighbors' flowers. The fragrance is is an ... (Read 84 times)

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
In the spring, I enjoy the fragrance coming from my neighbors' flowers. The fragrance is is an example of
 
  A) a negative externality.
  B) a private good.
  C) the need for antitrust legislation.
  D) a free rider problem.

Question 2

Explain what is meant by economic efficiency. Does efficiency imply that the fastest production processes or the most powerful equipment must always be used? Explain.
 
  What will be an ideal response?


phuda

  • Sr. Member
  • ****
  • Posts: 348
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

Efficiency involves a situation in which a given output is produced at lowest cost. Consequently, the fastest-operating or most powerful equipment may not always be efficient.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

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?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

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.

FLOWers FLOWers
Guo Xi, Early Spring. Guo Xi, Early Spring.
As their numbers grow and their resources and health improve, the elderly will enjoy life more and ... As their numbers grow and their resources and health improve, the elderly will enjoy life more and ...
Oil pressure relief valves are spring loaded. The stronger the spring tension, the higher the oil ... Oil pressure relief valves are spring loaded. The stronger the spring tension, the higher the oil ...
Where Are All These Added Sugars Coming From? Where Are All These Added Sugars Coming From?
An athlete stretches a spring an extra 40.0 cm beyond its initial length. How much energy has ... An athlete stretches a spring an extra 40.0 cm beyond its initial length. How much energy has ...
Video: Replication of DNA and Chromosomes/ How do cells replicate their DNA? (Animation) no Audio

For a complete list of videos, visit our video library