Draft a problem to be solved that addresses some real-world situation. These scenarios can come from news articles, podcasts, videocasts, or any other sources that are available to a potential reader. This problem should be relevant to the individual's interests, their home country, or their personal experience. you are permitted to estimate/approximate relevant numbers, or use any form of abstraction that we have used in class in order to construct these problems, but the problems must be answerable given the material from the course. Each problem should start with a description/summary of the situation to be addressed (the scenario). Subsequently, each problem must have a least two questions (two parts) to be answered and each question must require the application of different course material to be solved. The questions can apply material from anything covered in the course, each problem must include a well-written solution for each individual question. The goal is to have a list of problems that assists the reader in understanding how the course material can be applied in the real world. Relevance to the material, correct application of the material, diversity of the material covered, creativity, the difficulty of the questions/solutions, and the quality of the writeup itself are all important considerations in this assignment. Note: Be sure to reference any copyrighted material used in the write-up, and provided links/directions to necessary reading, and feel free to include a ToC and other organizational devices as seen fit.

(Course Material: Managerial Economics- A problem-solving approach)