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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Abstract: This report is a description of an experimental determination of the enthalpy of reaction of sulfuric acid in a reaction with magnesium to produce magnesium sulfate. Through the use of an ice calorimeter‚ the rxn H° D for this reaction is determined to be 1 360kJ mol − − × . Introduction: This report details an experiment in thermochemistry. Included are the methods‚ results‚ and interpretation of results of an experimental determination of an enthalpy of reaction. The reaction
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Amanda Benitez English 1301 John Flickinger February 10‚ 2013 Benjamin Franklin’s Philosophies Benjamin Franklin was one of the greatest men to walk this earth. His accomplishments range from being a wonderful politician and statesman‚ to a scientist and an author. He also conquered many personal goals that made him a person that people sought to be around and to be like. In his early 20’s‚ Franklin decided that he wanted to become a “perfect” being. Following a list of 13 virtues‚ and
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BUAD 3470 Yifan Shen 9/8/2014 Personal Paper My name is Yifan Shen. I was born in Hangzhou‚ it is one of the most beautiful cities in China. I love my city very much. It sits at the head of Hangzhou Bay on China’s coast between Shanghai and Ningbo. Hanghzou grew to prominence as the southern terminus of the Grand Canal and has been one of the most renowned and prosperous cities in China for much of the last millennium‚ due in part to its beautiful natural scenery. The city’s West Lake is its
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Fire and Ice written by Robert Frost uses three figures of speech. It uses alliteration‚ anaphora‚ and paradox. Alliteration is the use of the same consonant at the beginning of each stressed syllable in a line of verse. Alliteration is used in the lines “Some say the world will end in fire‚ some say in ice (Frost‚ lines 1 and 2)”‚ and “I hold with those who favor fire (Frost‚ line 4).” Alliteration is used by repetition of "S" in some and say. It is used in the "H" in hold and the "H" sound in “who”
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