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 90 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?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Trig Degrees/Radians unit circle Trig Degrees/Radians unit circle
Body systems and their major functions. Body systems and their major functions.
Mixing schematic Diagram CHE 415 unit operations experiment apparatus Mixing schematic Diagram CHE 415 unit operations experiment apparatus
What are examples of ideal forms? What are examples of ideal forms?
30-Unit Insulin Syringe 30-Unit Insulin Syringe
Summary of Functions of Principal Parts of the Brain Summary of Functions of Principal Parts of the Brain
Video: Isovolumetric VC, Ventricular ejection, Isovolumetric & Passive ventricular filling

For a complete list of videos, visit our video library