-Chapter 2: Supply & Demand
Q: What is Economics?
A: The study of the use of scarce resources which have alternative uses
No scarcity = No economics
Opportunity Cost: Value of the next best alternative
Bonus point 08/26/16
Provide a short answer to each of the three questions below.
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Directions: All homework must be typed. Please type your answers in a new
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Participation Homework # 1 ($15,000): Due Wednesday January 25th, by 11.45
Directions: All homework must be typed.
Please type your answers in a new document. Include your full name and Net
ID (Uni of Arizona email address) at the top.
Homework that i