BU224 Microeconomics_Assignment-Unit-1.docx

BU224 Microeconomics_Assignment-Unit-1.docx - BU224...

Info icon This preview shows pages 1–2. Sign up to view the full content.

BU224 Microeconomics Unit-1 Assignment March 27, 2018 Follow instructions: ---------------------------------- General Instructions for all Assignments ----------------------------------- 1. Unless specified differently by your course instructor, save this Assignment template to your computer with the following file naming format: Course number_section number_LAST_FIRST_ unit number 2. At the top of the template, insert the appropriate information: Your Name, Course Number, Section Number and Date 3. Insert your answers below, or in the appropriate space provided for in the question. Your answers should follow the APA format with citations to your sources and, at the bottom of your last page, a list of references. Your answers should also be in Standard English with correct spelling, punctuation, grammar, and style (double spaced, in Times New Roman, 12-point, black font). Respond to questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions. 4. Provide a list of references at the end of the last page of your Assignment. At a minimum , list the textbook as your reference 5. Upload the completed Assignment to the appropriate dropbox. 6. Any questions about the Assignment, or format questions, should be directed to your course instructor. --------------------------------------------------------------------------------------------------------------------- 1. a. Define “Opportunity Costs” and explain how it applies in this problem Opportunity costs is something you must give up gaining something else, this is also known as a trade-off. (Krugman, (2015), p. 7) For example: I had a dilemma I faced last year on whether to spend money we saved on fixing up our garage or treating my husband and myself to an anniversary dinner followed by a concert. We did not have enough money to do both, so we weighed out the options we had. We looked around very close at our garage to see if it could go
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern