This topic contains a solution. Click here to go to the answer

Author Question: Briefly explain the concept of opportunity cost. What is the opportunity cost of attending college? ... (Read 230 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
Briefly explain the concept of opportunity cost. What is the opportunity cost of attending college?
 
  What will be an ideal response?

Question 2

If the government wishes to correct the existence of positive externality, it could
 
  A) grant subsidies to consumers to stimulate demand.
  B) impose a tax on the producers to stimulate supply.
  C) impose taxes on consumers to stimulate demand.
  D) grant subsidies to producers to reduce supply.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

maaaaaaaaaa

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

The opportunity cost of an action is the value of the next best alternative that a person has to give up when making a choice. The opportunity cost of attending college is what the college student would give up by going to school, such as the income she could have earned if she did not go to school.

Answer to Question 2

A





 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

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

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

For a complete list of videos, visit our video library