Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

13. Nobel prize winning economist Milton Friedman has said there is no such thing as a free lunch. What did he mean by this statement?

13. Nobel prize winning economist Milton Friedman has said "there is no such thing as a free lunch." What did he mean by this statement? A) Points inside of a production possibilities frontier are efficient. B) Points along a production possibilities frontier are inefficient. C) When the economy is at an efficient production point producing more of one good requires producing a lower level of (at least) one other good. D) When the economy is at an inefficient production point producing more of one good requires producing a lower level of (at least) one other good. E) Food services at UTSC charge prices that are too high. F) Donald Trump has failed (so far) in his quest to make lunchtime food free for all people. G) Usually opportunity costs are negative. H) none of the abov

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essays In Economic Sociology

Authors: Max Weber, Richard Swedberg

1st Edition

0691218161, 9780691218168

More Books

Students also viewed these Economics questions

Question

How are segments identified? (Section 14.4.3)

Answered: 1 week ago