The opportunity cost of going to college full time away from home includes
A) the income you could have earned from a full-time job.
B) the funds you would have saved if you had not paid the tuition.
C) the time you could have spent with friends back home.
D) All of the above are correct.
D
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According to the Coase theorem, under which conditions can private parties solve the problem of externalities?
a) if the cost of bargaining is small b) if the initial distribution of rights favours the person being adversely affected by the externality c) if the number of parties involved is sufficiently large d) if the number of parties involved is sufficiently small
What are the differences between competition in a purely competitive industry and competition in an industry with technological advance and innovation?
What will be an ideal response?