Tutorial1.docx - ECON 111 Introductory Microeconomics...

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ECON 111 Introductory Microeconomics Tutorial Questions Chapter One – Ten lessons from economics 1.Describe some of the trade-offs faced by each of the following? a. A family deciding whether to buy a new car Answer: For every dollar of money spent on a new car, the family gives up a dollar they can use to buy other goods and services such as vacation fees.
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