DB: Econ 550 week 4
"Production Economics and Decisions"
From the scenario for Katrinas Candies, determine the relevant costs for the expansion
decision, and distinguish between the short run and the long run costs. Recommend the key
LECTURE NOTES- Chapter 1 Limits, Alternatives and Choices
Learning objectives After reading this chapter, you should be able to:
A. Define economics and the features of the economic perspective.
B. Describe the role of economic theory in economics.
Learning objectives After reading this chapter, students should be able to:
A. Characterize and give examples of markets.
B. Describe demand and how it can change.
C. Describe supply and how it can change.
D. Relate how supply and dem
Econ 550 week 5
From the scenario for Katrinas Candies, determine the appropriate type of market
structure for the situation in question. Cite at least four (4) defining characteristics that
have helped you reach this