Explain the concept of opportunity cost

Assignment Help Macroeconomics
Reference no: EM13197540

Using the concept of opportunity cost, explain why in developed countries with higher average incomes there is more support for costly environmental controls which raise goods on goods than in poorer countries.

Reference no: EM13197540

Questions Cloud

In what order would you complete the tasks : You are sitting at your desk entering charges for a patient when you receive a call from the front desk. Patient Angela Diaz has just been seen by the doctor, and she is in the process of checking out.  She needs to schedule two appointments.
Percentage change in monthly payment : Are either of the caps violated and what is the percentage change in monthly payment from year 1 to year 5?
Ethical challenge in hiring non cpa''s : write a paper explaining issues that bring concern to pricing your services and products. what ethical challenges will you face in hiring non CPA's.
Find articles about problems in education or economics : What is a specific problem facing the United States Congress where would I be able to find articles information about problems in education.
Explain the concept of opportunity cost : Using the concept of opportunity cost, explain why in developed countries with higher average incomes there is more support for costly environmental controls.
To derieve the cost of keeping maintenance : Say your parents give you a car for your birthday. It is not the new model you wanted, but it's in very good condition.The cost of keeping the car to you is.
Demonstrate the charging of optimal price for the product : Suppose a firm has a constant marginal cost of $10. The current price of the product is $25, and at that price, it is estimated that the price elasticity of demand is -3.0.
Explain short-run total variable cost : Suppose you are to specify a short-run total variable cost function for a nursing home. Explain the variables you would include in the function.
To improve the standard of living : To improve its standard of living, a nation’s economy must  remain stable, grow through innovation or else.

Reviews

Write a Review

 

Macroeconomics Questions & Answers

  How percapita income fiscal policy laws local economies

how percapita income fiscal policy laws local economies and census data affect the ability to fund governmental functions.

  What are the main forms of trade sales promotion

What are the key differences between relationship selling and traditional methods of selling? Which types of products or services do you think would be conducive to relationship selling.What are the main forms of trade sales promotion.

  Calculate the economic profit in case of monopoly

During recent years, MicroChips Corporation has enjoyed substantial economic profits derived from patents covering a wide rang of inventions and innovations for microprocessors

  Explain important characteristics of the economy

The production possibilities curve is an important model of how much an economy can produce given resources & technology.

  What sort of shift in supply or demand results equilibrium

Name three other providers of urgent care services. Emergency departments, urgent care clinics, and walk-in clinics supply urgent care services.What sort of shift in supply or demand would result in a market equilibrium with higher prices and sale..

  Market imperfection associated with negative externalities

An essay on Market imperfection associated with negative externalities.

  Explain the effects on the market for caviar

Caviar and champagne are complements. Recently, pollution has been a problem in the Volga River, where much of the world's caviar originates. The sturgeon that live in these waters are laying fewer eggs than before. Show graphically and explain..

  Lowering the target federal fund rate

Suppose the Federal Reserve lowers its target for the federal funds rate six times in seven months while the European Central Bank leaves its target for short term interest rates unchanged.

  Assume the new leadership in congress decides to repeal

Assume the new leadership in Congress decides to repeal some of the tax breaks granted to large businesses during the past several years.

  Illustrate what do you see are the economic pros

Illustrate what do you see are the economic pros and cons of the North America countries including Canada and Mexico get from adopting a common currency.

  What affects the exchange rate

The complete lung-run model for exchange rate determination posits that changes in the nominal interest rate also affect the exchange rate (E). Recall that the complete model combines the QTM, PPP and the Fisher effect. The simple lung-run version..

  Factors which impact productivity growth by subsidization

Physical capital, Natural resources, Human Capital and Technical Knowledge, should it be Government policy to subsidize the production or acquisition of all or these?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd