Week 1 - Opportunity Costs, What do economists mean
Question # 00862619
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Updated on: 10/29/2024 10:09 PM Due on: 10/30/2024
Week 1
1.Opportunity Costs
What do economists mean by "opportunity cost?" What are your opportunity costs in taking this course?
2.Demand v. Quantity Demanded
What is the difference between a decline in the quantity demanded and a decline in demand? Give an example of something that you now buy less of. Is it an example of a decline in the quantity you demand or a decline in your demand?
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Solution: Week 1 - Opportunity Costs, What do economists mean