Illustrate what is the opportunity cost in civilian output, Ask an Expert

Economics

Q. Smith likes cashews better than almonds and likes almonds better than walnuts. Macadamia nuts to almonds. Assuming his preferences are transitive, which does he prefer: a) Pecans or walnuts? B) Macadamia nuts or cashews?

Q. Illustrate what is the opportunity cost (in civilian output) of a defense buildup that raises military spending from 4.0 to 4.1 percent of a $14 trillion economy?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9274395

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