Ecn 361 topic - Study guides, Class notes & Summaries

Topic 2 DQ 1: Explain the difference between change in quantity demanded and shift in demand. What causes change in quantity demanded? What causes a shift in demand?

1. Question: A firm's opportunity costs of production are equal to its 2. Question: Adibok knows that it produces and sells high-quality athletic shoes. Wurkout knows that it produces and sells low-quality athletic shoes. According to the signaling theory of advertising, 3. Question: Monopolistic competition is considered inefficient because 4. Question: Table 17-5 The table shows the town of Driveaway's schedule for gasoline. Assume the town's seller(s) incurs a cost of $2 for each ga...

ECN 361 Topic 3 DQ 2 Participation & Responses

ECN 361 Topic 8 DQ 1 Participation & Responses

ECN 361 Topic 7 DQ 1 Participation & Responses

ECN 361 Topic 7 DQ 2 Participation & Responses

1. Question: While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulations come at the cost of reducing the incomes of the regulated firms' owners, workers, and customers. This statement illustrates the principle that 2. Question: Which of the following is an example of a normative, as opposed a to positive, statement? 3. Question: Refer to Table 2-2 .What is the opportunity cost to Footville of increasing the production of ...

Topic 5 DQ 1 List and briefly explain each of the four properties of indifference curves. Provide an example where you have made a buying decision based on one or more of these properties. Justify your answer.

ECN 361 Topic 7 DQ 1 Participation & Responses

ECN 361 Topic 7 DQ 2 Participation & Responses