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

Author Question: In the above figure, if no government intervention occurs, at the unregulated competitive market ... (Read 202 times)

jwb375

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
In the above figure, if no government intervention occurs, at the unregulated competitive market equilibrium, there is an
 
  A) external marginal benefit of 2.
  B) external marginal cost of 2.
  C) external marginal benefit of 1.
  D) external marginal cost of 3.

Question 2

Explain the economic concept of opportunity cost.
 
  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

apple

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

The opportunity cost of something is the best alternative that we give up when we make a choice or a decision.


jwb375

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jun 29, 2018
Correct answers!


apple

  • Sr. Member
  • ****
  • Posts: 352
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Based on this figure, what pathway is used during urinary catheterization, in which a tube is ... Based on this figure, what pathway is used during urinary catheterization, in which a tube is ...
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Radiation Side Effects, Healing Time, and Intervention Radiation Side Effects, Healing Time, and Intervention
Critical Pediatric Symptoms Indicating Need for Assessment and Possible Intervention Critical Pediatric Symptoms Indicating Need for Assessment and Possible Intervention
Figure of a Woman with a Drawing Showing Evidence of Original Painting and Outlining Design Scheme Figure of a Woman with a Drawing Showing Evidence of Original Painting and Outlining Design Scheme
How wide must a narrow slit be if the first diffraction minimum occurs at 12 with laser light ... How wide must a narrow slit be if the first diffraction minimum occurs at 12 with laser light ...
Video: Neurotransmission at chemical synapses & Excitory and inhibitory potentials

For a complete list of videos, visit our video library