Author Question: Which of the following best describes a command economy? A) An economy that is characterized by ... (Read 222 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
Which of the following best describes a command economy?
 
  A) An economy that is characterized by barter trade of goods and services
  B) An economy where strong controls are imposed by the ruling authority
  C) An economy in which resources are allocated through the price mechanism.
  D) An economy in which there are a few privately owned firms

Question 2

Refer to the scenario above. Which of the following is true, if the individual is optimizing in levels?
 
  A) An optimizer will rent the hotel room for three days, if the net benefit of staying for the third day is negative.
  B) An optimizer will rent the hotel room for three days, if the cost of staying for two days exceeds the cost of staying for three days.
  C) An optimizer will rent the hotel room for three days, if the net benefit of staying for three days exceeds the net benefit of staying for two days.
  D) An optimizer will rent the hotel for three days, if the total benefit of staying for three days exceeds the total benefits of staying for two days.



amcvicar

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

B

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

amcvicar

  • Sr. Member
  • ****
  • Posts: 341

 

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

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?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

For a complete list of videos, visit our video library