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Author Question: A simplified representation of the real world that is used to explain economic phenomena is a(n) ... (Read 80 times)

RODY.ELKHALIL

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on: Jun 29, 2018
A simplified representation of the real world that is used to explain economic phenomena is a(n)
 
  A) viewpoint.
  B) model.
  C) assumption.
  D) implication.

Question 2

Refer to the above figures. Which of the panels would be consistent with the situation in which external costs exist?
 
  A) Panel 1
  B) Panel 2
  C) Panels 1 and 2
  D) neither panel


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SamMuagrove

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

B

Answer to Question 2

A


RODY.ELKHALIL

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kishoreddi

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

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