Economics Cost 6.2

Economics Cost 6.2

Open Ended

Example: Jada can sleep all day or write her paper du tomorrow in class. So jada spend all her time working on her paper rather that sleeping.

Now you write an example of a trade off?

Open Ended

Define Opportunity Cost?

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Write the difference between Trade Off and Opportunity Cost?

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List 4 Examples of a Fix Cost?

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Write 5 examples of Variable Cost?

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What is the difference between Marginal and Fix Revenue?