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1. Identify two microeconomics and two macroeconomics principles or concepts from the video.
2. Explain why you have categorized these selected principles or concepts as microeconomics or macroeconomics.
3. Explain what causes the shifts, and how each shift affects the price, quantity, and decision making.
4. Include responses to the following:
How might you apply what you learned about supply and demand from the video to your workplace or your understanding of a real-world product with which you are familiar?
How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on equilibrium price and quantity?
How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on equilibrium price and quantity?
How does the price elasticity of demand affect a consumer's purchasing and the firm's pricing strategy as it relates to the video?
Determine how the costs in (a) and (b) should be presented on Erin's financial statements as of December 31, 2008. Also determine the amount of amortization of intangible assets that Erin should record in 2008 and 2009.
MBA 640 Exam 1, Spring 1, 2014: Compute the unit product cost for one barbeque grill for each of the costing methods described in Chapter 9. Prepare an income statement for the year using the absorption approach.
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