Answer:
Explanation:
When there are two factors used in producing a good, the least-cost rule specifies that costs have been minimized when the MPP of the first factor divided by its price is equal to the MPP of the second factor divided by its price.
The least cost rule evaluated two factors of production. Let's say labor and capital. production at least cost has the requirements that labor’s marginal product divided by its price is equal to capital’s marginal product divided by its price.
The Office of Price Administration (OPA) was established within the Office for Emergency Management on August 28, 1941, in order to control prices (and thus inflation) and rents after the outbreak of World War II.
Answer:
Bob can pay to support his local public radio station, which depends on donations to be as effective as possible. Bob listens to the radio station several hours per day but never donates since he suspects that other people will donate enough to keep the station on the air.
Jim is working on a group project for a class in which he wants a high grade. However, since the grades are assigned to the group as a whole and he knows that the other group members will pick up most of the extra work, Jim calls in sick and plays video games on his Dream Station 64
Explanation:
Free riding is a form of market failure where a person who benefits from a good or service doesn't pay for it.
Bob enjoys the radio but doesn't support it and Jim doesn't participate in the group project but expects to earn a good grade; these are examples of free riding.
Karl doesn't benefit from the street light and doesn't pay; hence, he is not free riding.
I hope my answer helps you.
Answer:
Capital Loss
Explanation:
A capital loss occurs when an investment asset decrease in value between the time of purchase and the time for selling. The loss is realized only when the asset is sold. Examples of investment assets that can lose value include stocks, mutual funds, index funds, real estate, and bonds.
A capital gain or loss is the purchase price minus selling price of an investment asset. Capital gain is when the result is positive, implying that the asset has appreciated in value. A capital gain always attracts tax. David experienced a capital loss of $3000 as the selling price was lower than the buying price ($ 4000-$1000).
The informal sector (also known as informal or "grey" <em>economy</em>) is not taxed or monitored by the government and is made up of people who are self employed. The informal sector can be large or small depending on the country, and is hard to measure. The contributions of the informal sector are not calculated into a country's GDP.
