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

Author Question: Give an example of how money functions as a unit of account. What will be an ideal ... (Read 103 times)

genevieve1028

  • Hero Member
  • *****
  • Posts: 601
on: Jun 29, 2018
Give an example of how money functions as a unit of account.
 
  What will be an ideal response?

Question 2

Suppose two individuals, Pooh and Piglet, desire protection (provided by Tigger) for their community, The Hundred Acre Wood, from heffalumps. Protection is a public good.
 
  The marginal cost of protection as well as Piglet's and Pooh's marginal benefits from protection are in the table above. What is the quantity of protection that achieves the maximum net benefit? A) 1 hour per day
  B) 2 hours per day
  C) 3 hours per day
  D) 4 hours per day


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bigsis44

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

Money functions as a unit of account when it is used to in a price. For instance, a price of 60 dollars for a purse shows how the price of the purse is being measured in units of money.

Answer to Question 2

C


genevieve1028

  • Hero Member
  • *****
  • Posts: 601
Reply #2 on: Jun 29, 2018
Correct answers!


bigsis44

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

nephron - functional unit of the kidney nephron - functional unit of the kidney
Controlled cold compression unit. Controlled cold compression unit.
How to find the derivatives of inverse trigonometric functions (Part 1) How to find the derivatives of inverse trigonometric functions (Part 1)
How to integrate trigonometric functions containing sine and cosine with odd powers (Part 1) How to integrate trigonometric functions containing sine and cosine with odd powers (Part 1)
Functions Functions
Each enzyme functions best within a characteristic range of pH Each enzyme functions best within a characteristic range of pH
Video: Simple Diffusion - Ion transport

For a complete list of videos, visit our video library