EBK ECON MICRO
6th Edition
ISBN: 9781337671828
Author: MCEACHERN
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Textbook Question
Chapter 1, Problem 9P
(Studying Economics) According to the text, economics majors on average make more money than most other majors and have more job opportunities. Are these the primary motivations one might have for studying economics? What are your motivations for studying economics?
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In this week’s discussion, we focus on how the market changes when there are changes to the supply or demand of goods and services.
(a) “This year the weather smiled on us, and we made a good crop,” said a wheat farmer in Manitoba. “But just as we made a good crop, the economic situation changed.” This quotation brings to mind the saying, “If you are a farmer, the weather is always bad.” How would use economic theory to explain that this saying might be true and what would you suggest the farmer do to make the best of the situation despite good or bad weather? (one paragraph)
(b) Along with your textbook reading, review the related videos and article for a background on Canada’s marijuana legalization, then respond to the following questions:Do you see any economic effects not mentioned that might occur in the longer period? What major changes do you see happening with the supply and demand sides of the cannabis market in the long run? (1-2 paragraphs; no mini essay).
MICROECONOMICS
Questions 3 ( ALL OF IT IS ONE QUESTION!!!)
For article 3 write the number of the graph that best describes what happened.
Fill in only the appropriate boxes in the chart for article 3 and be sure and indicate if it is an increase or a decrease.
For the graph use an arrow to indicate an increase or a decrease.
Make sure you fill in the graph PLEASE
Leave it blank if there is no change
Masks (Now).
The easing Covid-19 pandemic is expected to reduce demand for medical masks this year, joining a group of companies that have forecast a decline in business from Covid-19 prevention.
Masks became a billion-dollar business for the St. Paul, Minn., manufacturer starting in 2020, when the virus’s rapid spread sent consumers and healthcare workers looking to secure facial coverings to try to avoid infection. Now, as the latest U.S. surge caused by the Omicron variant fades, 3M said they are seeing slowing mask sales.
WHICH GRAPH BEST FITS THE ARTICLE.
Graph #
Graph…
[Microeconomic theory]
Explain in a picture what is meant by Corner Solution? Illustration of haram and halal goods, ice cream and hot coffee during the rainy season.
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