Author Question: Refer to Figure 7-1. Marginal private benefit is represented by which curve? A) D2 B) Supply C) ... (Read 96 times)

student77 · **on:** Jun 29, 2018

Refer to Figure 7-1. Marginal private benefit is represented by which curve?

A) D2
B) Supply
C) D1
D) All of the above represent marginal private benefit.

Question 2

Explain why growth is not necessarily synonymous with development.

What will be an ideal response?

blazinlyss · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

C

Answer to Question 2

Growth is not necessarily synonymous with development because it may be difficult to transform growing output into economic benefits that reach most of a nation's people. Growth measures changes in income, whereas development measures the increase in the well-being of a nation's citizens. Economic development covers factors such as health and education.