St Atanagio is a remote island in the Atlantic. The inhabitants grow corn and breed poultry. The accompanying table shows the maximum annual output combinations of corn and poultry that can be produced. Obviously‚ given their limited resources and available technology‚ 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
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1. PRINCIPES OF ECONOMICS-MANKIEW CHAPTER 1- QUESTION FOR REVIEW (18) No 3. What is inflation and what causes it? = Inflation is an increase in the overall level of prices in the economy. Inflation happen because culprit is growth in the quantity o money when a government creates larges quantities of the nation’s money‚ the value of the money. No 5. Explain the two main causes of market failure and give an example of each! = Externality‚ is the impact of one person’s action on the well being
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Experiment 6: Microbial Cultivation Objectives: To successfully cultivate microorganisms from different sources to medium. Materials: Broth‚ Agar‚ Sterilized cotton swab‚ Procedure: 1) Get your broth with cotton swab inside containing your bacteria. 2) Remove the cotton and flame sterilize the mouth of the testtube. 3) Get your cotton swab inside‚ flame sterilize again the mouth of the testtube then plug it with cotton. 4) Grab the inverted plated media and flame sterilize the
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Econ 2200 Midterm #1 fall 2011 Section I Answer Four of the following six questions. Each question is worth 5 points. a. What is the difference between the Income Effect and a Change in Income? b. True or False: The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle. Explain. c. An Engel curve can be both positively and negatively sloped‚ why does this happen? d. What do we mean by the term “Consumer Surplus”? e
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Opportunity cost of an activity (or goods) is equal to the best next alternative foregone. Although opportunity cost can be hard to quantify‚ the effect of opportunity cost is universal and very real on the individual level. In fact‚ this principle applies to all decisions‚ not just economic ones. Since the work of the Austrian economist Friedrich von Wieser‚ opportunity cost has been seen as the foundation of the marginal theory of value[citation needed]. Opportunity cost is one way to measure
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QUESTION 1 a. A downward-sloping demand curve shows in both graphs when the quantity at each price is doubled what it was. However‚ the curve in demand for pharmaceutical drugs is drawn with a relatively steep slope as inelastic products. Equilibrium price down-sloping along the demand curve while quantity in both market increased to some extent. b. In inelastic demand of pharmaceutical drugs‚ the percentage change in price is greater than the percentage change in quantity demanded. While in elastic
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EFFECT OF ATMOSPHERIC PRESSURE ON THE ENVIROMENT THE BIOSPHERE Variations in atmospheric pressure can present special problems for the respiratory systems of animals because atmospheric pressure affects the exchange of oxygen and carbon dioxide that occurs during animal respiration. Normal atmospheric pressure at sea level is the total pressure that a column of air above the surface of the Earth exerts (760 millimetres of mercury‚ or 1 atmosphere)
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Safe and Healthy Environments Alisha Sperline Kaplan University CE220: Child Safety‚ Nutrition and Health Bonnie Hurless May 23‚ 2014 Safe and Healthy Environments Children learn though listening‚ speaking‚ seeing and discovering the environment that surrounds them. Providing a healthy positive environment for children ages 2-4 both indoors and outdoors will help them to learn‚ grow and develop to the best of their ability (Marotz‚ 2015‚ p.9-10). The environment should include positive health
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Limitations and constraints on marketing activities Task 1 Read each of the examples of marketing activities that might be carried out by business in the table below. For each example suggest a law that the business might be breaking and the reason why. |Example |Possible legislation being broken and why | |A picture on the packaging that shows better quality ingredients |Sales of goods
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Unit 1:Business Environment. In this assignment I will explain different types of businesses and how these different businesses operate. P1 Range of business. A business can be defined by where it is located. It can either be… -Local -National -International -Global An example of a local business is newsagents‚ charity shop‚ local council and local garage. These businesses are in a local area and only have one location which is in the local area. An example of a national business is‚ national
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