« previous next »

Author Question: Because of voter rational ignorance, the government might not produce the efficient quantity of a ... (Read 66 times)

jCorn1234

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
Because of voter rational ignorance, the government might not produce the efficient quantity of a public good.
 
  Indicate whether the statement is true or false

Question 2

Explain why the availability of resources affects the elasticity of supply.
 
  What will be an ideal response?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Madisongo23

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

A good that can be produced using commonly available resources has costs that increase only a little when its production increases. Its supply will be more elastic. If, however, the production of a good requires very specialized resources, an increase in production will be very costly. Its supply will be more inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

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
An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ... An AC voltage is produced by a magnetic sensor. Most sensors should produce at least 0.1 volt AC ...
Active solar technologies use for heat, cool, and produce electricity Active solar technologies use for heat, cool, and produce electricity
Diagrams a mitotic chromosome, showing how chromatin is condensed to produce it Diagrams a mitotic chromosome, showing how chromatin is condensed to produce it
Presidential success under unified and divided government, from Eisenhower to trump Presidential success under unified and divided government, from Eisenhower to trump
Insect PollinationHoneybees are efficient pollinators of a variety of flowers, including those of be Insect PollinationHoneybees are efficient pollinators of a variety of flowers, including those of be
Video: Chemical Changes

For a complete list of videos, visit our video library