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 193 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?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

A melanistic jaguar is a colour morph which occurs at about 6% frequency in populations. A melanistic jaguar is a colour morph which occurs at about 6% frequency in populations.
Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg Erythroblastosis fetalis. (a) The condition occurs with an RH+ father and RH– mother. (b) First preg
In this cartoon, Boss Tweed welcomes cholera—a skeletal figure of death carrying a handbag from “Asi In this cartoon, Boss Tweed welcomes cholera—a skeletal figure of death carrying a handbag from “Asi
Government Corruption versus GDP per Capita, 2009 Government Corruption versus GDP per Capita, 2009
Postreplication repair occurs if DNA replication Postreplication repair occurs if DNA replication
Immune-to-brain signaling occurs in response to infection, injury, and inflammation that occur in pe Immune-to-brain signaling occurs in response to infection, injury, and inflammation that occur in pe
Video: Glucagon (glycogenolysis and gluconeogenesis)

For a complete list of videos, visit our video library