ECN 110 Lecture Notes - Lecture 2: Scotiabank, Marginal Cost, Marginal Utility
4 Dec 2015
School
Department
Course
Professor
Document Summary
Answers to questions and problems from chapter 1. Which of the following decisions would entail the greater opportunity cost: allocating a square block in the heart of. What are the major functions of the entrepreneur: specify and explain the typical shapes of marginal-benefit and marginal-cost curves. 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9000 pizzas. Through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus move outside its production possibilities curve. Problems: potatoes cost janice per kilo, and she has . 00 that she could possibly spend on potatoes or other items. What if she only had to spend: pham can work as many or as few hours as she wants at the college bookstore for per hour.
