Question
hello I need help with my economics long discussion. Prompt: 1) What is the definition of opportunity cost ? with an example 2) Compare
hello I need help with my economics long discussion.
Prompt:
1) What is the definition of " opportunity cost" ? with an example
2) Compare the difference between "Change in Supply"and " Change in Quantity Supplied". Discuss the causes and shape of curve
3) At what price does Shortage and Surplus occur ? Once a market has shortage and Surplus, then what happens to the market price?
4) if a decrease in Demand is smaller than a decrease in Supply, what happens to an equilibrium price and output sales?
5) if Coke price goes down, what happens to Pepsi demand? why?
No references
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started