Economics Chapter 2 Chapter 2 * Opportunity cost is a ratio. It is the decrease in the quantity produced of one good divided by the increase in the quantity produced of another good as we move along the production possibilities frontier. * The outward-bowed shape of the PPF reflects increasing opportunity cost. The PPF is bowed outward because resources are not all equally productive in all activities. * When goods and services are produced at the lowest possible cost and in the
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Watch the Presentation in Module/Week 4 entitled: “Ways to Fight Cancer”. Notice that the presentation outlines essentially 3 approaches to fighting cancer: a) reduction of cancer risks‚ b) correction of cancer genes‚ and c) destruction of cancerous tissue. 3. In the Individual Assigntment 3: 10 Discoveries in the War on Cancer document is a set of 10 scientists’ discoveries. Scan the discoveries briefly. Then open the assignment submission link in Module/Week 4. In the text box‚ number from 1 to
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SET INDUCTION ENHANCE STUDENTS INTEREST LEARNING IN SCIENCE Abstract The purpose of this study is to examine the effects of applying different type of set induction on students interest‚ attention and motivation level. Participants will be Year 5 students from who will receive 1 hour weekly different type of set induction along with their regular science lesson. The set induction that i was used in this study was story telling and games like activity. During the lesson teacher
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as they use more of their resources for corn production‚ there are fewer resources available for breeding poultry. Maximum annual output options Quantity of Corn (pounds) Quantity of Poultry (pounds) 1 1200 0 2 1000 300 3 800 500 4 600 600 5 400 700 6 200 775 7 0 850 1. Examine the following production possibility frontier graph with corn on the horizontal axis and poultry on the vertical axis illustrating these options and showing points 1–7. 2. Can St. Atanagio
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You are given the following data about two firms: FIRM A Quantity 0 1 2 3 4 5 6 Total revenue ($) 0 10 20 30 40 50 60 Average revenue ($) ___ ___ ___ ___ ___ ___ ___ Marginal revenue ($) ___ ___ ___ ___ ___ ___ Total cost ($) 30 42 50 60 76 100 140 Marginal cost ($) ___ ___ ___ ___ ___ ___ Average cost ($) ¥ ___ ___ ___ ___ ___ ___ FIRM B Quantity 0 1 2 3 4 5 6 Total cost ($) 100 134 154 177 216 266 366 Average cost ($)
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team and employee’s to determine with the project team and employee’s to determine concerns are helpful in order to ensure the end product. The design stage risk design should address the needs as well as alleviate current and future concerns prior. 4.Suppose that you have been contracted by a jewelry store to manage a project to create a new inventory tracking system. Describe your initial approach to the project. What should you need? To whom might you need to speak? The initial approach
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There is often a trade-off between equity (fairness) and efficiency • gain from trade are the advantages of specialization • economies normally move toward equilibrium • Three basic econ. questions - What to produce? How to produce? For Whom? • Three economic system ➢ all of it answer those 3 basic econ. questions ➢ types - traditional‚ command/planned‚ market ➢ most of the country are mixed economies (more than one type) Chapter 2 : Economic Models Trade-offs and Trade •
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things worse‚ sufficient funds were not available to debtor countries. - The European crisis can be seen as a general failure on part of the creditor countries. - The chief creditors began to experience severe monetary problems. - The US suffered from 1000s of bank failures after the stock market crash‚ - The increasing demand for liquidity in 1930-31 led to bank failures throughout Europe. - Fall of the Austrian credit Anstalt
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ECO 561 Economics March 12‚ 2012 Abstract The following paper discusses a business proposal on hair extensions. The proposal will include profit maximization strategy‚ how to increase revenue‚ entry into the market. The proposal will also look at product differentiation and the mix of pricing and non-pricing strategies to increase revenue as well as pricing and non-pricing strategies for hair extensions under the current business cycle in the United
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and the marginal cost is 2R. If the committee wants to maximize the net benefit from reducing acid rain‚ what is marginal cost at the optimal level of reduction? Answer Selected Answer: d. $400 Correct Answer: d. $400 • Question 4 1 out of 1 points Which of the following will cause an increase in consumer surplus? Answer Selected Answer: b. a technological improvement in the production of the good Correct Answer: b. a technological improvement in the production
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