You have collected the following data on output and total variable costs: Qb TVC ($) 1 69 2 118 3 152 4 . 177 5 . 198 6 . 218 7 . 243 8 . 279 9 . 330…October 4, 2020
//www.cmegroup.com/education/managing-risk-cme-group-how-it-works.html 1.) Explain Supply and Demand and Prices using his Flash comic book example.October 4, 2020
“Looking Closely at Cost and Competition”
Watch this video, Revenue, Profits, and Price: Crash Course Economics #24 (https://youtu.be/UWImfFax8Ew) , to help you prepare for this week’s discussion.
Reply to the following prompts by using a business with which you’re familiar.
- Do you think it’s easy for your selected business to enter this same industry?
- What are some key fixed, variable, implicit, and/or opportunity costs?
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