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- Chandra received a gift certificate that covers threesalsa dance lessons. After the first lesson, Chandradecided that she doesn’t like salsa, yet she stillplans to go the next lesson because it doesn’t costher anything. Evaluate Chandra’s logic.Articulate how economic factors influence acustomer’s ability and willingness to buy productsMatch each term with the correct definition. economics opportunity costmarginal analysis utilitya. The next-best thing that must be forgone in order to produce one more unit of a given product.b. The pleasure, happiness, or satisfaction obtained from consuming a good or service.c. The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.d. Making choices based on comparing marginal benefits with marginal costs.
- whith practical examples distinguish between sacale of preference and opportunity costNeed help with a disscusion post response. The image attached is the other persons post. I must reply with an option or added information. Must be 150 words. Here is the orginal instructions to reference... (DO NOT ANSWER, I ONLY NEED TO REPLY TO THE IMAGE ATTACHED) Identify, describe, and explain two lessons from microeconomics that you find most important to your future. Try to find one lesson from "business economics," one lesson from "microeconomics applied to society," and one lesson involving global issues. Describe and explain providing interesting examples! Respond to at least one lesson identified and explained by one or your classmates.Explain the concepts appraisal well and production well in brief ?
- Pls help to complete below homework : Pls explain in details why selected option is correct.Altruism: now consider the case where each individual cares about the benefit from the museum to the other two. For example, any additional utility to Alice or Bianca is also a utility gain for Claire. Hint: for each person, the total marginal benefit is TMB= MBA+ MBB+MBC Find each person’s optimal number of art works. Who will contribute and how many works of art will be provided?How does economic course differ from energy economics?a. Energy is relatively scarce unlikely resources studied in other courses.b. Economists focus on the inevitable depletion of fossil fuel resources.c. Energy efficiency is equivalent to economic efficiency.d. Energy prices fluctuate more than prices of most goods and services.
- match each term with the correct definition ;economics opportunity cost marginal analysis utility a. the next best thing that must be forgone in order to produce one more unit of a given product b. the pleasure happiness or satisfction obtained from consuming a good or service. c the social science concerned with how individuals institutions and society make optimal choices under conditions of scarcity d. making choices based on comparing marginal benefits with marginal costGive three examples of important trade-offs that you fqcevin your lifea) Trade-offs are important part of economic decision making. You are supposed to Analyze and explain any three trade-offs that you face in your life. b) You plan to study on weekend and your friends ask you to go to a farm house with them. What do you think is the true cost of spending your weekend on a farmhouse with friends? c) You plan to spend your weekend working at your father’s superstore for a wage, but your friends ask you go play cricket at the weekend. What do you think is the true cost of spending your weekend playing cricket with friends?