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Author Question: What is the opportunity cost of producing capital goods such as a new road? What will be an ideal ... (Read 117 times)

stock

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on: Jun 29, 2018
What is the opportunity cost of producing capital goods such as a new road?
 
  What will be an ideal response?

Question 2

List four sources of market failure.
 
  What will be an ideal response?


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karlss

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

The opportunity cost of producing a new road can be measured by the next best alternative that could have been produced with the same resources.

Answer to Question 2

(1.) Imperfect competition
(2) Externalities.
(3.) Production of public goods.
(4.) Imperfect information.


stock

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

tuate

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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