This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: An efficient allocation of resources is reached in the figure above when output equals A) 1 ... (Read 55 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 29, 2018
An efficient allocation of resources is reached in the figure above when output equals
 
  A) 1 million.
  B) 2 million.
  C) 3 million.
  D) 4 million.

Question 2

Explain how it might be possible to discuss costs of production of a good or service without using monetary values.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

xiaomengxian

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

All costs are essentially opportunity costs. That is to say that it is simply the value of the next best available alternative. Therefore, it is possible to discuss costs without mentioning monetary costs by analyzing what was given up to produce a good or a service.


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 29, 2018
Wow, this really help

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Species of the algal genus Dinobryon not only photosynthesize, but are also efficient predators of b Species of the algal genus Dinobryon not only photosynthesize, but are also efficient predators of b
Hydrocephalus. The figure on the left is a child with the enlarged ventricles of hydrocephalus. The Hydrocephalus. The figure on the left is a child with the enlarged ventricles of hydrocephalus. The
The anterior pituitary is sometimes called the master gland because it secretes many hormones that r The anterior pituitary is sometimes called the master gland because it secretes many hormones that r
Three pathways of complement combined. (a) Figure shows a summary of how each pathway proceeds. (b) ... Three pathways of complement combined. (a) Figure shows a summary of how each pathway proceeds. (b) ...
(A) A brisk half-moon stroke is an efficient technique to use with the body brush or exfoliation ... (A) A brisk half-moon stroke is an efficient technique to use with the body brush or exfoliation ...
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Video: New DNA Strand Replication

For a complete list of videos, visit our video library