Plzz give the answer of second question. 1. What is the opportunity cost of a particular product?The price paid for that product.b. The value put on that product by the person who bought it.c. The value of the next-best alternative that is given up as a result of buying that particularproduct.d. The combined value of all the other alternatives that are given up as a result of buyingthat particular product.a.2. Which of the following is a capital good?An oven in a bakery.b. A home computer.a.c. The first application of CD ROM technology to an economics textbook.d. An investment in IBM stock.

A capital good is something which is used in order to produce goods or services. They are used as a…

Answered: 2. Which of the following is a capital…

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Economics

2. Which of the following is a capital good? a. An oven in a bakery. bome computer

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 2CQQ

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Question

Plzz give the answer of second question.

1. What is the opportunity cost of a particular product?
The price paid for that product.
b. The value put on that product by the person who bought it.
c. The value of the next-best alternative that is given up as a result of buying that particular
product.
d. The combined value of all the other alternatives that are given up as a result of buying
that particular product.
a.
2. Which of the following is a capital good?
An oven in a bakery.
b. A home computer.
a.
c. The first application of CD ROM technology to an economics textbook.
d. An investment in IBM stock.

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