Answer:
Explanation:
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Answer:
a Coasian solution to an externality situation.
Explanation:
Basically. a Coasian solution to an externality situation occurs when the economic activities of one party results in a damage or cost to another party or their property. In this situation, the Coase Theorem which recommends two possible settlements may be applied. The first settlement is for the party causing the damage or imposing the cost to choose to give financial compensation to the affected party so that he can continue to impose the cost or cause the damage. The second settlement is for the affected party to pay the party causing the damage or imposing the cost so that he can stop causing the damage or imposing the cost.
From the question, the affected person chose the second possible settlement by offering to pay the passenger in front of him to keep her from reclining her airplane seat. It is therefore an example of a Coasian solution to an externality situation.
Answer: Capital should be increased in the production process.
Explanation:
We should note that based on rule of cost minimization, the quantity of capital and labor that's employee by a firm should be one where the MRTS i.e marginal rate of technical substitution between the capital and labor is equal to the wage rental ratio. Therefore,
MRTS = w/r
MPl/MPk = w/r
MPl/w = MPk/r
45/9 < 60/10
5 < 6
Since the ratio isn't equal, it simply means that the firm isn't using optimum mix of inputs. Based on the above, capital should be increased.
Answer:
bismuth subsalicylate is potentially dangerous to children and adolescents recovering from chicken pox or influenza because theres a risk of Reye's Syndrome.
Explanation:
Reye's Syndrome is a rare condition, if nausea or vomiting is observed after administration of the dose of bismuth subsalicylate, contact your doctor immediately, because these might be the early symptoms of the Reye's syndrome.
