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Theory Question and Mathematical Question Add in library

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Explain why scarcity forces individuals and society to incur opportunity costs. Give specific examples.( you can copy the diagram as well) Suppose a chocolate bar manufacturer promotes its products by advertising and opportunity to win a free car. Is this car free because the winner pays zero for it? Why is the production possibility frontier bowed outwards?   Question 2   Suppose you own a coffee shop. List some of fixed inputs and variable inputs you would use in operating the ...

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Tags: Australia Strathfield Economics Microeconomics Advanced Microeconomics Victoria University Micro Economics ACCY 130  


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