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The recent flooding in the upper Midwest destroyed a important proportion of the corn crop. Though, it has been discovered that corn oil is far better in keeping cholesterol withi
market failure
Directions: You should legibly handwrite or type the answers to the following questions on a separate sheet of paper. These must be submitted in class (not via email unless you hav
how to estimate costs?
assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?
choose a topic from microeconomics that matters to you and find a recent news article covering that topic?
Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command
Provide an economic explanation of what you have shown in your diagrams above. Discuss what happens to Iceland's (1) level of economic output, (2) employment, (3) real wage rate,
define opportunity cost and how it is useful in managerial decision making?
compare marginal rate of technical substitution and marginal rate of substitution
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