Production possibilities, trade-offs, opportunity cost, and supply-demandPPF video here
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Price floor costs jobs in Sacramento.
More on demand and practice. Practice test for supply AND demand here.
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supply_demand_housing.docx | |
File Size: | 15 kb |
File Type: | docx |
Terms/concepts for exam: elastic/inelastic demand, how higher prices decrease demand, determinants of supply, determinants of demand, fixed costs, variable costs, draw supply-demand and equilibrium, total revenue, profit, subsidies, costs of production, diminishing marginal utility, law of demand, law of supply, price or income effect.
Market Structures: Perfect Competition and Imperfect Structures
marketstructureseconomics.pptx | |
File Size: | 3574 kb |
File Type: | pptx |
Working by yourself or with one partner interview a manager or executive or owner. You may use email/texts as well as a face-to-face interview. Present your findings in a Google Slides presentation. Answer ALL of the following questions for full credit:
- Is your business perfect competition, monopolistic competition, oligopoly or monopoly? (You may have to help your candidate answer the question. Use the matrix we made in class.)
- Is the business growing and is the industry growing? Why?
- Describe your competition?
- Do you expect to be in business in five years?
- Does government limit profits in this business?
- If so, how does government limit profits?
- Do you wish government was more or less intrusive in this industry?