Week 1 - Opportunity Costs, Demand V. Quantity Demanded
Question # 00840411
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Updated on: 04/05/2023 01:03 AM Due on: 04/05/2023
Week 1 Opportunity Costs, Demand V. Quantity Demanded
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, Demand V. Quantity Demanded