Each of the following explains why cost-benefit analysis is difficult except
a. there is no price with which to judge the value of a public good.
b. surveys are often biased and unreliable.
c. it is difficult to identify all factors that influence costs and benefits of public goods.
d. government projects rarely have sufficient funding to complete them on time.
d
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Redland produced 10 million tonnes of wheat in a certain year using a given stock of capital and efficiency units of labor
It was able to increase production to 15 million tonnes within two years without any increase in its capital stock or the number of efficiency units of labor. Suppose wheat is the only good produced in Redland. What is likely to be the reason behind the increase in production? Explain with a suitable diagram.
Why does it seem to be more difficult for investors to measure the capital stock of a firm like eBay rather than a firm like Ford Motor Company? Explain
What will be an ideal response?