ECON 101 Chapter : Econ101-2014 summer review.pdf
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ECON 101 Full Course Notes
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What is the opportunity cost of one movie and the opportunity cost of one ice cream cone: the company that you manage has invested million in developing a new product, but the development is not quite finished. At a recent meeting, your sales people report that the competition from other products has reduced the expected sales of your product to million. If it costs you one million to complete your development, would you go ahead and do so: you have a choice between spending you have now or put in a bank account that earns 5% interest. Find opportunity cost of cheese production in england and spain. Review questions #2 (chapters 4-6: a technological breakthrough reduces the cost of producing computer chips. 7: the canadian government administers two programs that affect the market for cigarettes. Media campaigns and labeling requirements are aimed at making the public aware of the dangers of smoking.