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

  Law of increasing opportunity costs-production possibilities

Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..

  Describe the implications of this economic forecast

Describe the implications of this economic forecast and the income elasticity of demand for the pricing strategy.

  Price ceiling sets

Price ceiling sets a maximum not illegal value that a seller may charge, typically placed below equilibrium. What do you think of a government placing a price ceiling next time gasoline prices rise above $4.00 a gallon?

  Elucidate what should the us congress federal reserve do

Elucidate what should the US Congress also the Federal Reserve do about it?

  Explain how can federal government spending crowd

Explain how can federal government spending crowd out private sector investment and consumption.

  How will it impact blackspots bottom line

From the two businesses perspectives, the two products are indistinguishable. The large investment required to build production facilities prohibits other firms from entering this market, and existing firms operate under the assumption that the ri..

  Explain how the invisible hand fights back when government

Explain how the invisible hand fights back when government try to overrule market forces with price controls.

  Calculate annual tax

Assume you currently earn taxable income of $100,000 per year. You are subject to an MTR of 50%. Currently, your ATR is 35%. Calculate your annual tax.

  Forecasting ease of calculation

Among the advantages of technique of forecasting are ease of calculation, relatively little requirement for analytical skills, and the ability to provide the analyst

  Solow model framework for understanding growth of nations

Does the structure of global economy permit poor nations to catch up with rich ones? Is the Solow model a useful framework for understanding whether poor nations tend to catch up with rich ones?

  First yr followed by cash payment of end of the second year

In this case there will be a cash outlay of $550,000 at the end of the first yr followed by a cash payment of $650,000 at the end of the second year.

  Illustratr what is the keynesian solution to a recession

Illustratr what is the Keynesian solution to a recession or depression. Explain how does the Keynesian multiplier work.

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