Many people have bemoaned the fact that hand-written personal letters have become largely a thing of the past
They have also noted that the number of emails they receive have increased quite dramatically and can hardly be compared to the volume of letters that they used to receive by mail. Explain in terms of opportunity cost why this might be the case. Explain why junk email is probably more of a problem than traditional junk mail delivered to our mail box.
The opportunity cost of sending an email is much lower than writing and sending personal hand-written letters. First, there is no postage required for sending an email and secondly copies of an email can be easily and effortlessly made to send to many more recipients. The same is true for junk email. It is relatively costless to reproduce a letter sent via email whereas the cost of printing, distributing and mailing traditional junk mail is much higher.
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Which of the following is NOT a divisible good?
A) gasoline B) tap water C) electricity D) movies
Explain the difference between nominal and effective tariffs
What will be an ideal response?
Which of the following government actions can hinder the economic development of a country?
A. It inhibits the growth of the financial and banking sector. B. It implements policies that increase inflation rates in a country. C. It adopts policies that effectively tax exports. D. All of these are correct.
Assume the wool industry is perfectly competitive. Why is it difficult for a wool producer to make excess profits in the long run?
A. the assumption that wool producers in the industry do not ?differentiate? their products B. the fact that wool producers are ?price takers? C. the fact that the demand curve facing each wool producer is perfectly elastic D. There is free entry into the wool industry.