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 41 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

jamesnevil303

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

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?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Bronchoscopy. Figure illustrates physician using a bronchoscope to inspect the patient’s bronchial t Bronchoscopy. Figure illustrates physician using a bronchoscope to inspect the patient’s bronchial t
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Resources for Nutrition Facts Resources for Nutrition Facts
A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ... A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ...
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance? If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance?
Video: Bulk flow - factors that influence bulk flow

For a complete list of videos, visit our video library