Answer: See explanation
Explanation:
Economics is the study of human behavior and also how resources are allocated in the society. Economics studies the reason for the behavior in the individuals, firms or government when certain situations happen in the economy.
Opportunity cost is refered to as n alternative cost that's, the cos if what we forgo when we make an alternative decision. For example, if I purchase a book for $20, the opportunity cost is something else that I could have used the $20 for.
Answer:
c. rent-seeking behavior
Explanation:
In economics, rent-seeking behavior can be described as a behavior or conduct that tries to increase the share of an economic agent or an entity from the existing wealth without adding or creating new wealth. This implies that the entity aims to obtain added wealth without creating a new one.
From the question, the aim of the lawyers is mainly to increase their own wealth in terms of legal fees they will collect from preparing wills, trusts, and other legal documents when they prepare them for people when a law restrict people from self-preparing it using their personal computers. In turn, the lawyers will only increase their share of wealth without adding any wealth.
Therefore, this is an example of rent-seeking behavior.
Base on the scenario, the email metric that you can ignore
after your boss asked you to do some reporting in your email performance last
quarter is the industry average. The industry average are used in means of
having to create components financially when it comes to business plan.
The correct answer would be D. Limited Partnership
Answer:
rate of technological progress = 8 %
Explanation:
given data
capital net of depreciation = 10 percent
Population growing rate = 2 percent.
solution
we will apply here Golden Rule that is
According to golden Rule level of capital accumulation is in steady state which have the highest level of the consumption
so here rate of technological progress is = 10% - 2 %
rate of technological progress = 8%
and here economy will at Golden Rule steady state
so correct answer is 8 percent