ECO 581 Keiser Wk 1 Biden Expands Effort to Secure US Energy Independence Summary
Description
What is the basic economic problem that all persons, businesses, and countries face? What are the differences in the way a market process vs. a command process attempt to deal with the basic economic problem? What is the difference between Economic Profits and Accounting Profits? Discuss the importance of taking into account the opportunity costs (implicit costs) in investment decisions. Illustrate your discussion with examples.
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WEEK 1 ACTIVE ASSIGNMENT – Due by Sunday 10/30/22
Select an article from the news of the past week that illustrates one or two of the concepts that are discussed in chapters 1 and 2. In a paper of no more than two pages (double-spaced, one-inch margins, 12-point type) briefly summarize the article and discuss the underlying economic concept(s) of the article.
textbook:
Managerial Economics, 7th Edition
Keat, Young and ErfleISBN: 9780133020267
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