Running head: CRUDE
The Crude Truth
Kimberly Kelley, Jamie Hendershot, Katherine Mannix
BBA0117 Applied Microeconomics - Business
I have read and understand the plagiarism policy as outlined in the syllabus and the sections in
Running head: POLICY
United States Monetary Policy and Current Economic Conditions
Sarah Beaty, Jamie Hendershot, Kimberly Kelley, Katherine Mannix, Douglas Zantello
BBA0117 Applied Macroeconomics - Business
I have read and und
Running head: ECON PRINCIPLES FOR MANAGERS
Problems and Applications
In order to get something one wants, one has to give up something they value or want.
This is the definition of a personal tradeoff.
I can recall three examples of important tradeoffs
Economists versus Accountants
Economists include all opportunity costs when analyzing a firm, whereas accountants measure
only explicit costs. Therefore, economic profit is smaller than accounting profit.
Production and Costs
Quantity of inputs used to make a good
And the quantity of output of that good
Gets flatter as production rises
Increase in output that arises from an additional unit of