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Chapter 1 - TEST BANK
Introductory Macroeconomics SFW (University of Guelph)
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Macroeconomics, Second Canadian Edition (Hubbard)
Chapter 1 Economics: Foundations and Models
1.1 Explain these three key economic ideas: People are rational, people respond to incentives,
and optimal decisions are made at the margin
1)Change
si
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adt
o
A)mor
eCanadi
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offe
e
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B)Canadi
ansha
vi
ngt
opa
ymor
ef
orc
offe
e
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C)wa
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r
e
as
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sf
orc
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hope
mpl
oye
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s
.
D)t
hede
s
t
r
uc
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i
onoft
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as
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pe
opl
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2)I
ne
c
onomi
c
s
,c
hoi
c
e
smus
tbemadebe
c
aus
ewel
i
vei
nawor
l
dof
A)une
mpl
oyme
nt
.
B)s
c
ar
c
i
t
y
.
C)gr
e
e
d.
D)unl
i
mi
t
e
dr
e
s
our
c
e
s
.
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3)Whi
c
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hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ueabouts
c
ar
c
i
t
y?
A)Sc
ar
c
i
t
yr
e
f
e
r
st
ot
hes
i
t
ua
t
i
oni
nwhi
c
hunl
i
mi
t
e
dwant
se
x
c
e
e
dl
i
mi
t
e
dr
e
s
our
c
e
s
.
B)Sc
ar
c
i
t
yi
snotapr
obl
e
mf
ort
hewe
al
t
hy
.
C)Sc
a
r
c
i
t
yi
sonl
yapr
obl
e
m whe
nac
ount
r
yhast
ool
ar
geapopul
a
t
i
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D)Sc
ar
c
i
t
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i
s
e
swhe
nt
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r
ei
sawi
dedi
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par
i
t
yi
ni
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omedi
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1
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4)Thebas
i
ce
c
onomi
cpr
obl
e
m of________hasa
l
wa
yse
xi
s
t
e
dandwi
l
lc
ont
i
nuet
oe
xi
s
t
.
A)s
c
ar
c
i
t
y
B)e
ffic
i
e
nc
y
C)i
nfla
t
i
on
D)r
e
c
e
s
s
i
on
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5)Byde
fini
t
i
on,e
c
onomi
c
si
st
hes
t
udyof
A)how t
omakemone
yi
nt
hes
t
oc
kmar
ke
t
.
B)how t
omakemone
yi
namar
ke
te
c
onomy
.
C)t
hec
hoi
c
e
spe
opl
emaket
oa
t
t
ai
nt
he
i
rgoal
s
,gi
ve
nt
he
i
rs
c
ar
c
er
e
s
our
c
e
s
.
D)s
uppl
yandde
mand.
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a
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i
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6)Ane
c
onomi
c________i
sas
i
mpl
i
fie
dve
r
s
i
onofs
omeas
pe
c
tofe
c
onomi
cl
i
f
eus
e
dt
oana
l
yzean
e
c
onomi
ci
s
s
ue
.
A)mar
ke
t
B)t
r
ade
off
C)var
i
abl
e
D)mode
l
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7)Whe
r
edoe
c
onomi
ca
ge
nt
ss
uc
hasi
ndi
vi
dual
s
,fir
msandna
t
i
ons
,i
nt
e
r
ac
twi
t
he
ac
hot
he
r
?
A)i
npubl
i
cl
oc
a
t
i
onsmoni
t
or
e
dbyt
hegove
r
nme
nt
B)i
nanyar
e
nat
ha
tbr
i
ngst
oge
t
he
rbuye
r
sands
e
l
l
e
r
s
C)i
nanyphys
i
c
all
oc
a
t
i
onpe
opl
ewhe
r
epe
opl
ec
anphys
i
c
al
l
yge
tt
oge
t
he
rf
ors
e
l
l
i
nggoods
,s
uc
has
s
hoppi
ngmal
l
s
D)i
nanyl
oc
a
t
i
onwhe
r
et
r
ans
ac
t
i
onsc
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t
or
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ons
ume
rgr
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e
dbyt
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gove
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8)Thet
e
r
m ________i
ne
c
onomi
c
sr
e
f
e
r
st
oagr
oupofbuye
r
sands
e
l
l
e
r
sofapr
oduc
tandt
he
ar
r
ange
me
ntbywhi
c
ht
he
yc
omet
oge
t
he
rt
ot
r
ade
.
A)c
ol
l
e
c
t
i
ve
B)c
oope
r
a
t
i
ve
C)mar
ke
t
D)t
r
ade
off
2
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ye
c
onomi
ci
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as
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ear
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t
i
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,
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opl
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s
pondt
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nc
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9)Ec
onomi
s
t
sas
s
umet
ha
ti
ndi
vi
dual
s
A)be
ha
vei
nunpr
e
di
c
t
abl
ewa
ys
.
B)wi
l
lne
ve
rt
akea
c
t
i
onst
ohe
l
pot
he
r
s
.
C)pr
e
f
e
rt
ol
i
vei
nas
oc
i
e
t
yt
ha
tval
ue
sf
ai
r
ne
s
saboveal
le
l
s
e
.
D)ar
er
a
t
i
onalandr
e
s
pondt
oi
nc
e
nt
i
ve
s
.
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s
et
hr
e
eke
ye
c
onomi
ci
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as
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opl
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a
t
i
onal
,
pe
opl
er
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s
pondt
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nc
e
nt
i
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s
,
andopt
i
malde
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i
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10)Ec
onomi
s
t
sas
s
umet
ha
tr
a
t
i
onalbe
ha
vi
ori
sus
e
f
uli
ne
xpl
ai
ni
ngc
hoi
c
e
spe
opl
emake
A)be
c
aus
ei
r
r
a
t
i
onalpe
opl
edonotmakee
c
onomi
cc
hoi
c
e
s
.
B)e
ve
nt
houghpe
opl
ema
ynotbe
ha
ver
a
t
i
onal
l
yal
lt
het
i
me
.
C)be
c
aus
ei
ndi
vi
dual
sac
tr
a
t
i
onal
l
yal
lt
het
i
mei
nal
lc
i
r
c
ums
t
anc
e
s
.
D)e
ve
nt
houghpe
opl
er
ar
e
l
y
,i
fe
ve
r
,be
ha
vei
nar
a
t
i
onalmanne
r
.
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opl
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11)Ec
onomi
s
t
sas
s
umet
ha
tr
a
t
i
onalpe
opl
edoal
loft
hef
ol
l
owi
nge
x
c
e
p
t
A)us
eal
la
vai
l
abl
ei
nf
or
ma
t
i
onast
he
ya
c
tt
oac
hi
e
vet
he
i
rgoal
s
.
B)unde
r
t
akeac
t
i
vi
t
i
e
st
ha
tbe
ne
fitot
he
r
sandhur
tt
he
ms
e
l
ve
s
.
C)we
i
ght
hebe
ne
fit
sandc
os
t
sofal
lpos
s
i
bl
eal
t
e
r
na
t
i
vea
c
t
i
ons
.
D)r
e
s
pondt
oe
c
onomi
ci
nc
e
nt
i
ve
s
.
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s
et
hr
e
eke
ye
c
onomi
ci
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opl
ear
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t
i
onal
,
pe
opl
er
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s
pondt
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nc
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nt
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c
i
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i
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3
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12)Ec
onomi
c
sdoe
snots
t
udyc
or
r
e
c
tori
nc
or
r
e
c
tbe
ha
vi
or
sbutr
a
t
he
ri
tas
s
ume
st
ha
te
c
onomi
ca
ge
nt
s
be
ha
ve________,me
ani
ngt
he
ymaket
hebe
s
tde
c
i
s
i
onsgi
ve
nt
he
i
rknowl
e
dgeoft
hec
os
t
sandbe
ne
fit
s
.
A)e
qui
t
abl
y
B)r
a
t
i
onal
l
y
C)e
mot
i
onal
l
y
D)s
e
l
fis
hl
y
Ans
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c
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opl
eAr
eRa
t
i
onal
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ar
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ome
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ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
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onsar
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13)Cons
i
de
rt
hef
ol
l
owi
ngs
t
a
t
e
me
nt
s
:
a
. Carowne
r
spur
c
has
emor
egas
ol
i
nef
r
om agass
t
a
t
i
ont
ha
ts
e
l
l
sgas
ol
i
nea
tal
owe
rpr
i
c
et
hanot
he
r
r
i
valgass
t
a
t
i
onsi
nt
hear
e
a
.
b. Banksdonott
akes
t
e
pst
oi
nc
r
e
as
es
e
c
ur
i
t
ys
i
nc
et
he
ybe
l
i
e
vei
ti
sl
e
s
sc
os
t
l
yt
oal
l
ow s
omebank
r
obbe
r
i
e
st
hant
oi
ns
t
al
le
xpe
ns
i
ves
e
c
ur
i
t
ymoni
t
or
i
nge
qui
pme
nt
.
c
. Fi
r
mspr
oduc
emor
eofapar
t
i
c
ul
arDVDwhe
ni
t
ss
e
l
l
i
ngpr
i
c
er
i
s
e
s
.
Whi
c
hoft
heaboves
t
a
t
e
me
nt
sde
mons
t
r
a
t
e
st
ha
te
c
onomi
ca
ge
nt
sr
e
s
pondt
oi
nc
e
nt
i
ve
s
?
A)aonl
y
.
B)bonl
y
.
C)conl
y
.
D)aandb.
E)a
,b
,andc
.
Ans
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18)I
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6
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22)Ther
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e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
25)Thee
xt
r
ac
os
tas
s
oc
i
a
t
e
dwi
t
hunde
r
t
aki
nganac
t
i
vi
t
yi
sc
al
l
e
d
A)ne
tl
os
s
.
B)mar
gi
nalc
os
t
.
C)oppor
t
uni
t
yc
os
t
.
D)f
or
e
gonec
os
t
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
7
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26)De
Sha
wn'
sDe
t
ai
l
i
ngi
sas
e
r
vi
c
et
ha
tde
t
ai
l
sc
ar
sa
tt
hec
us
t
ome
r
s
'
home
sorpl
a
c
e
sofwor
k.
De
Sha
wn'
sc
os
tf
orabas
i
cde
t
ai
l
i
ngpac
ka
gei
s$40
,andhec
har
ge
s$75f
ort
hi
ss
e
r
vi
c
e
.Forat
ot
alpr
i
c
e
of$90,De
Sha
wnwi
l
lal
s
ode
t
ai
lt
hec
ar
'
se
ngi
ne
,as
e
r
vi
c
et
ha
taddsanaddi
t
i
onal$20t
ot
het
ot
alc
os
tof
t
hepac
ka
ge
.Wha
ti
sDe
Sha
wn'
smar
gi
nalbe
ne
fiti
fhes
e
l
l
sabas
i
cde
t
ai
l
i
ngpac
ka
ge
?
A)$35
B)$75
C)Hemake
samar
gi
nall
os
sof$15,notamar
gi
nalbe
ne
fit
.
D)Themar
gi
nalbe
ne
fitc
annotbede
t
e
r
mi
ne
d.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
27)De
Sha
wn'
sDe
t
ai
l
i
ngi
sas
e
r
vi
c
et
ha
tde
t
ai
l
sc
ar
sa
tt
hec
us
t
ome
r
s
'
home
sorpl
a
c
e
sofwor
k.
De
Sha
wn'
sc
os
tf
orabas
i
cde
t
ai
l
i
ngpac
ka
gei
s$40
,andhec
har
ge
s$75f
ort
hi
ss
e
r
vi
c
e
.Forat
ot
alpr
i
c
e
of$90,De
Sha
wnwi
l
lal
s
ode
t
ai
lt
hec
ar
'
se
ngi
ne
,as
e
r
vi
c
et
ha
taddsanaddi
t
i
onal$20t
ot
het
ot
alc
os
tof
t
hepac
ka
ge
.Wha
ti
st
hemar
gi
nalc
os
tofaddi
ngt
hee
ngi
nede
t
ai
l
i
ngt
ot
hebas
i
cde
t
ai
l
i
ngpac
ka
ge
?
A)$20
B)$30
C)$60
D)$60pl
ust
heval
ueofhi
st
i
me
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
28)De
Sha
wn'
sDe
t
ai
l
i
ngi
sas
e
r
vi
c
et
ha
tde
t
ai
l
sc
ar
sa
tt
hec
us
t
ome
r
s
'
home
sorpl
a
c
e
sofwor
k.
De
Sha
wn'
sc
os
tf
orabas
i
cde
t
ai
l
i
ngpac
ka
gei
s$40
,andhec
har
ge
s$75f
ort
hi
ss
e
r
vi
c
e
.Forat
ot
alpr
i
c
e
of$90,De
Sha
wnwi
l
lal
s
ode
t
ai
lt
hec
ar
'
se
ngi
ne
,as
e
r
vi
c
et
ha
taddsanaddi
t
i
onal$20t
ot
het
ot
alc
os
tof
t
hepac
ka
ge
.Shoul
dDe
Sha
wnc
ont
i
nuet
ooffe
rt
hee
ngi
nede
t
ai
l
i
ngs
e
r
vi
c
e
?
A)Ye
s
,hes
t
i
l
lmake
sapr
ofitbys
e
l
l
i
ngt
hee
ngi
nede
t
ai
l
i
ngs
e
r
vi
c
ewi
t
ht
hebas
i
cde
t
ai
l
i
ngpac
ka
ge
.
B)Ye
s
,butonl
yi
fher
ai
s
e
st
hepr
i
c
eoft
hebas
i
cde
t
ai
l
i
ngpac
ka
ge
.
C)No,hi
smar
gi
nalbe
ne
fiti
sl
e
s
st
hanhi
smar
gi
nalc
os
t
.
D)Mor
ei
nf
or
ma
t
i
oni
sne
e
de
df
orDe
Sha
wnt
omaket
hi
sde
c
i
s
i
on.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
8
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Sc
e
nar
i
o1.
1
Suppos
eac
e
l
lphonemanuf
ac
t
ur
e
rc
ur
r
e
nt
l
ys
e
l
l
s2
0,
000c
e
l
lphone
spe
rwe
e
kandmake
sapr
ofitof
$5,
000pe
rwe
e
k.Amana
ge
ra
tt
hepl
antobs
e
r
ve
s
,"
Al
t
hought
hel
as
t3,
000c
e
l
lphone
swepr
oduc
e
dand
s
ol
di
nc
r
e
as
e
dourr
e
ve
nueby$6,
000andourc
os
t
sby$6,
700,wear
es
t
i
l
lmaki
nganove
r
al
lpr
ofitof
$5,
000pe
rwe
e
ks
oIt
hi
nkwe
'
r
eont
her
i
ghtt
r
ac
k.Wear
epr
oduc
i
ngt
heopt
i
malnumbe
rofc
e
l
l
phone
s
.
"
29)Re
f
e
rt
oSc
e
nar
i
o1.
1.Us
i
ngmar
gi
nalana
l
ys
i
st
e
r
mi
nol
ogy
,wha
ti
sanot
he
re
c
onomi
ct
e
r
mf
ort
he
i
nc
r
e
me
nt
alr
e
ve
nuer
e
c
e
i
ve
df
r
om t
hes
al
eoft
hel
as
t3,
000c
e
l
lphone
s
?
A)gr
os
se
ar
ni
ngs
B)mar
gi
nalr
e
ve
nue
C)s
al
e
sr
e
ve
nue
D)gr
os
spr
ofit
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
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ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
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fle
c
t
i
veThi
nki
ng
30)Re
f
e
rt
oSc
e
nar
i
o1.
1.Us
i
ngmar
gi
nalana
l
ys
i
st
e
r
mi
nol
ogy
,wha
ti
sanot
he
re
c
onomi
ct
e
r
mf
ort
he
i
nc
r
e
me
nt
alc
os
tofpr
oduc
i
ngt
hel
as
t3,
000c
e
l
lphone
s
?
A)mar
gi
nalc
os
t
B)ope
r
a
t
i
ngc
os
t
C)e
xpl
i
c
i
tc
os
t
D)Anyoft
heabovet
e
r
msar
ec
or
r
e
c
t
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
31)Re
f
e
rt
oSc
e
nar
i
o1.
1.Hadt
hefir
m notpr
oduc
e
dands
ol
dt
hel
as
t3,
000c
e
l
lphone
s
,woul
di
t
spr
ofit
behi
ghe
rorl
owe
r
,andi
fs
obyhow muc
h?
A)I
t
spr
ofitwi
l
lbe$6,
700hi
ghe
r
.
B)I
t
spr
ofitwi
l
lbe$700hi
ghe
r
.
C)I
t
spr
ofitwi
l
lbe$700l
owe
r
.
D)I
t
spr
ofitwi
l
lbe$6,
000l
owe
r
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
9
Copyright © 2018 Pearson Canada, Inc.
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Tabl
e1.
1
Hour
s
Open
1
2
3
4
5
6
Tot
alRevenue
(
dol
l
ar
s
)
$50
75
95
110
120
125
Lydi
ar
unsas
mal
lnai
ls
al
oni
nt
het
ownofNe
w Hope
.Shei
sde
ba
t
i
ngwhe
t
he
rs
hes
houl
de
xt
e
ndhe
r
hour
sofope
r
a
t
i
on.Lydi
afigur
e
st
ha
the
rs
al
e
sr
e
ve
nuewi
l
lde
pe
ndont
henumbe
rofhour
st
henai
l
s
al
oni
sope
nass
howni
nt
het
abl
eabove
.Shewoul
dha
vet
ohi
r
eawor
ke
rf
ort
hos
ehour
sa
tawa
ger
a
t
e
of$10pe
rhour
.
32)Re
f
e
rt
oTabl
e1.
1.Us
i
ngmar
gi
nalanal
ys
i
s
,de
t
e
r
mi
nehow manyhour
ss
houl
dLydi
ae
xt
e
ndhe
rnai
l
s
al
on'
shour
sofope
r
a
t
i
ons
?
A)2hour
s
B)3hour
s
C)4hour
s
D)5hour
s
E)6hour
s
Ans
we
r
:D
Di
ff:
3 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
33)Re
f
e
rt
oTabl
e1.
1.Wha
ti
sLydi
a'
smar
gi
nalbe
ne
fiti
fs
hede
c
i
de
st
os
t
a
yope
nf
ort
wohour
si
ns
t
e
ad
ofonehour
?
A)$25
B)$50
C)$75
D)$125
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
10
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34)Re
f
e
rt
oTabl
e1.
1.Wha
ti
sLydi
a'
smar
gi
nalc
os
ti
fs
hede
c
i
de
st
os
t
a
yope
nf
ort
wohour
si
ns
t
e
adof
onehour
?
A)$10
B)$20
C)$25
D)$40
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
35)SooJ
i
ns
har
e
saone
be
dr
oom apar
t
me
ntwi
t
hhe
rc
l
as
s
ma
t
e
.He
rs
har
eoft
her
e
nti
s$700pe
rmont
h.
Shei
sc
ons
i
de
r
i
ngmovi
ngt
oas
t
udi
oapar
t
me
ntwhi
c
hs
hewi
l
lnotha
vet
os
har
ewi
t
hanyone
.The
s
t
udi
oapar
t
me
ntr
e
nt
sf
or$950pe
rmont
h.Re
c
e
nt
l
y
,your
ani
nt
oSooJ
i
nonc
ampusands
het
e
l
l
syou
t
ha
ts
hehasmove
di
nt
ot
hes
t
udi
oapar
t
me
nt
.SooJ
i
ni
sasr
a
t
i
onalasanyot
he
rpe
r
s
on.Asan
e
c
onomi
c
sma
j
or
,your
i
ght
l
yc
onc
l
udet
ha
t
A)SooJ
i
ndi
dnotha
veac
hoi
c
e
;he
rr
oomma
t
ewasas
l
ob.
B)SooJ
i
nfigur
e
st
ha
tt
headdi
t
i
onalbe
ne
fitofha
vi
nghe
rownpl
ac
e(
asoppos
e
dt
os
har
i
ng)i
sa
tl
e
as
t
$250.
C)SooJ
i
nfigur
e
st
ha
tt
hebe
ne
fitofha
vi
nghe
rownpl
ac
e(
asoppos
e
dt
os
har
i
ng)i
sa
tl
e
as
t$950.
D)Thec
os
tofha
vi
ngone
'
sowns
pa
c
eout
we
i
ghst
hebe
ne
fit
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
36)Mc
Cai
nFoodsLt
d.i
soneoft
hel
ar
ge
s
tpr
oduc
e
rsoff
r
oze
nf
r
e
nc
hf
r
i
e
si
nt
hewor
l
d.I
ft
hema
r
gi
nal
c
os
tofpr
oduc
i
ngane
xt
r
ami
l
l
i
onki
l
ogr
amsoff
r
e
nc
hf
r
i
e
si
s$1mi
l
l
i
on,t
he
nMc
Cai
nFoodsLt
d.s
houl
d
pr
oduc
et
hee
xt
r
af
r
e
nc
hf
r
i
e
s
A)onl
yi
ft
hemar
gi
nalbe
ne
fiti
sgr
e
a
t
e
rt
han$1mi
l
l
i
onpl
usanac
c
e
pt
abl
epr
ofitmar
gi
n.
B)asl
ongast
hemar
gi
nalbe
ne
fitt
hefir
mr
e
c
e
i
ve
si
sj
us
te
qualt
oorgr
e
a
t
e
rt
han$1mi
l
l
i
on.
C)asl
ongast
hemar
gi
nalc
os
tdoe
snotr
i
s
e
.
D)unt
i
lt
hemar
gi
nalbe
ne
fitt
hefir
mr
e
c
e
i
ve
sr
e
ac
he
sze
r
o.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
67
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Bi
ngeWa
t
c
hi
ngandDe
c
i
s
i
onsa
tt
heMar
gi
n.
11
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37)Theappr
oxi
ma
t
e
l
y12s
e
c
ondsbe
t
we
e
ne
pi
s
ode
sonNe
t
fli
xme
anst
ha
tbi
ngewa
t
c
hi
ngi
s
A)t
her
e
s
ul
tofas
e
r
i
e
sofmar
gi
nalde
c
i
s
i
ons
.
B)s
ome
t
hi
nge
ve
r
yonepl
anst
owhe
nt
he
yfir
s
tl
ogi
nt
oNe
t
fli
x.
C)s
ome
t
hi
ngNe
t
fli
xf
or
c
e
svi
e
we
r
st
odo.
D)ani
ndi
c
a
t
i
onofhow qui
c
kl
yNe
t
fli
xus
e
r
sc
anma
kede
c
i
s
i
ons
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
67
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Bi
ngeWa
t
c
hi
ngandDe
c
i
s
i
onsa
tt
heMar
gi
n.
38)Sc
a
r
c
i
t
yr
e
f
e
r
st
oas
i
t
ua
t
i
oni
nwhi
c
hunl
i
mi
t
e
dwant
se
x
c
e
e
dt
hel
i
mi
t
e
dr
e
s
our
c
e
sa
vai
l
abl
et
of
ul
fil
l
t
hos
ewant
s
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
4
Topi
c
:Sc
ar
c
i
t
y
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
39)Sc
a
r
c
i
t
yi
sapr
obl
e
mt
ha
twi
l
le
ve
nt
ual
l
ydi
s
a
ppe
arast
e
c
hnol
ogyadvanc
e
s
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
4
Topi
c
:Sc
ar
c
i
t
y
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
40)Ane
c
onomi
cmode
li
sas
i
mpl
i
fie
dve
r
s
i
onofr
e
al
i
t
yus
e
dt
oana
l
yzer
e
al
wor
l
de
c
onomi
cs
i
t
ua
t
i
ons
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
4
Topi
c
:Ec
onomi
cMode
l
s
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
41)Thes
al
e
sr
e
ve
nueas
e
l
l
e
rr
e
c
e
i
ve
sf
r
om t
hes
al
eofanaddi
t
i
onaluni
tofgoodsi
sc
al
l
e
dt
hemar
gi
nal
be
ne
fit
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
12
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lOMoARcPSD|9882954
42)Opt
i
malde
c
i
s
i
onsar
emadea
tt
hepoi
ntwhe
r
emar
gi
nalc
os
te
qual
sze
r
o.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
43)I
fi
tc
os
t
sSi
nc
l
ai
r$300t
opr
oduc
e3s
ue
dej
a
c
ke
t
sand$420t
opr
oduc
e4s
ue
dej
ac
ke
t
s
,t
he
nt
he
di
ffe
r
e
nc
eof$120i
st
hemar
gi
nalc
os
tofpr
oduc
i
ngt
he4
t
hs
ue
dej
ac
ke
t
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
44)Suppos
et
hee
xt
r
ac
os
tofpr
oduc
i
ngane
xt
r
ami
l
l
i
onki
l
ogr
amsoff
r
e
nc
hf
r
i
e
si
s$1mi
l
l
i
on.The
n,
Mc
Cai
nFoodsLt
d.s
houl
dmaket
hee
xt
r
af
r
e
nc
hf
r
i
e
si
ft
he
yge
ne
r
a
t
eaddi
t
i
onalr
e
ve
nueof$1mi
l
l
i
on.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Bi
ngeWa
t
c
hi
ngandDe
c
i
s
i
onsa
tt
heMar
gi
n.
45)Expl
ai
nt
hee
c
onomi
cas
s
umpt
i
ont
ha
t"
pe
opl
ear
er
a
t
i
onal
.
"
Ans
we
r
:"
Pe
opl
ear
er
a
t
i
onal
"me
anst
ha
te
c
onomi
s
t
sas
s
umec
ons
ume
r
sandfir
mswi
l
lus
eal
la
vai
l
abl
e
i
nf
or
ma
t
i
onast
he
yac
tt
oac
hi
e
vet
he
i
rgoal
s
.Ra
t
i
onali
ndi
vi
dual
swe
i
ght
hebe
ne
fit
sandc
os
t
sofe
ac
h
ac
t
i
on,andt
he
yc
hoos
eanac
t
i
ononl
yi
ft
hebe
ne
fit
se
x
c
e
e
dt
hec
os
t
s
.
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Pe
opl
eAr
eRa
t
i
onal
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
46)Expl
ai
nt
hee
c
onomi
ci
de
at
ha
t"
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
.
"
Ans
we
r
:Humanbe
i
ngsac
tf
r
om avar
i
e
t
yofmot
i
ve
s
,i
nc
l
udi
ngr
e
l
i
gi
ousbe
l
i
e
f
,e
nvy
,andc
ompas
s
i
on.
"
Pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
"me
anst
ha
tpe
opl
ewi
l
lac
ti
ft
he
yf
e
e
li
ti
si
nt
he
i
rbe
s
te
c
onomi
ci
nt
e
r
e
s
t
t
odos
o.
Di
ff:
2 Pa
geRe
f
:
5
Topi
c
:Pe
opl
eRe
s
pondt
oEc
onomi
cI
nc
e
nt
i
ve
s
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
13
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47)Wha
ti
sme
antbyt
hes
t
a
t
e
me
ntt
ha
t"
opt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n"
?
Ans
we
r
:I
ne
c
onomi
c
s
,t
hewor
d"
mar
gi
nal
"me
ans"
e
xt
r
a"or"
addi
t
i
onal
.
"Ec
onomi
s
t
sr
e
as
ont
ha
tt
he
opt
i
malde
c
i
s
i
oni
st
oc
ont
i
nueanyac
t
i
vi
t
yupt
ot
hepoi
ntwhe
r
et
hemar
gi
nalbe
ne
fite
qual
st
he
mar
gi
nalc
os
t
,s
oopt
i
malde
c
i
s
i
onsar
emadea
tt
hepoi
ntwhe
r
et
hee
xt
r
abe
ne
fitr
e
c
e
i
ve
df
r
om an
ac
t
i
vi
t
yi
se
qualt
ot
hee
xt
r
ac
os
tas
s
oc
i
a
t
e
dwi
t
ht
ha
ta
c
t
i
vi
t
y
.
Di
ff:
2 Pa
geRe
f
:
6
Topi
c
:Opt
i
malDe
c
i
s
i
onsAr
eMadea
tt
heMar
gi
n
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Re
fle
c
t
i
veThi
nki
ng
48)Suppos
et
ha
twa
t
c
hi
ngonemor
ee
pi
s
odeofyourf
a
vour
i
t
eNe
t
Fl
i
xs
how i
swor
t
h$200t
oyou.
Suppos
et
ha
ts
t
udyi
ngf
ort
ha
ts
ameamountoft
i
mewi
l
lboos
tyourmar
ke
nought
oge
tyouabur
s
ar
y
.
Wha
ti
st
hes
mal
l
e
s
ts
i
zeoft
hebur
s
ar
yt
ha
twoul
dc
aus
eyout
os
t
udyi
ns
t
e
adofwa
t
c
hi
nganot
he
r
e
pi
s
ode(
as
s
umi
ngyouar
er
a
t
i
onal
)
?
Ans
we
r
:Thebur
s
ar
ywoul
dha
vet
obea
tl
e
as
t$200f
orar
a
t
i
onalpe
r
s
ont
oc
hoos
et
os
t
udyi
ns
t
e
adof
wa
t
c
hi
ngt
hene
xte
pi
s
ode-as
s
umi
ngt
he
r
ear
enoot
he
rbe
ne
fit
st
os
t
udyi
ng.
Di
ff:
2 Pa
geRe
f
:
7
Topi
c
:Pe
opl
eAr
eRa
t
i
onal
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:1
.
1Expl
ai
nt
he
s
et
hr
e
eke
ye
c
onomi
ci
de
as
:Pe
opl
ear
er
a
t
i
onal
,
pe
opl
er
e
s
pondt
oi
nc
e
nt
i
ve
s
,
andopt
i
malde
c
i
s
i
onsar
emadea
tt
hemar
gi
n
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Bi
ngeWa
t
c
hi
ngandDe
c
i
s
i
onsa
tt
heMar
gi
n.
14
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1.2 Discuss how a society answers these three key economic questions: What goods and
services will be produced? How will the goods and services be produced? Who will receive the
goods and services produced?
1)Thet
hr
e
ef
undame
nt
alque
s
t
i
onst
ha
tanye
c
onomymus
taddr
e
s
sar
e
A)Wha
twi
l
lbet
hepr
i
c
e
sofgoodsands
e
r
vi
c
e
s
;how wi
l
lt
he
s
egoodsands
e
r
vi
c
e
sbepr
oduc
e
d;and
whowi
l
lr
e
c
e
i
vet
he
m?
B)Wha
tgoodsands
e
r
vi
c
e
st
opr
oduc
e
;how wi
l
lt
he
s
egoodsands
e
r
vi
c
e
sbepr
oduc
e
d;andwho
r
e
c
e
i
ve
st
he
m?
C)Whoge
t
sj
obs
;wha
twa
ge
sdowor
ke
r
se
ar
n;andwhoownswha
tpr
ope
r
t
y?
D)How muc
hwi
l
lbes
a
ve
d;wha
twi
l
lbepr
oduc
e
d;a
ndhow c
ant
he
s
egoodsands
e
r
vi
c
e
sbef
ai
r
l
y
di
s
t
r
i
but
e
d?
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
7
Topi
c
:Tr
ade
offs
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
2)Thei
de
at
ha
tbe
c
aus
eofs
c
ar
c
i
t
y
,pr
oduc
i
ngmor
eofonegoodors
e
r
vi
c
eme
anspr
oduc
i
ngl
e
s
sof
anot
he
rgoodors
e
r
vi
c
er
e
f
e
r
st
ot
hee
c
onomi
cc
onc
e
ptof
A)opt
i
mi
za
t
i
on.
B)e
ffic
i
e
nc
y
.
C)t
r
ade
off.
D)e
qui
t
y
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7
Topi
c
:Tr
ade
offs
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
3)Soc
i
e
t
yf
ac
e
sat
r
ade
offi
nal
loft
hef
ol
l
owi
ngs
i
t
ua
t
i
onse
x
c
e
p
t
A)whe
nde
c
i
di
ngwhowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d.
B)whe
nde
c
i
di
ngwha
tgoodsands
e
r
vi
c
e
swi
l
lbepr
oduc
e
d.
C)whe
nde
c
i
di
nghow goodsands
e
r
vi
c
e
swi
l
lbepr
oduc
e
d.
D)whe
ns
omepr
e
vi
ous
l
yune
mpl
oye
dwor
ke
r
sfindj
obs
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
7
Topi
c
:Tr
ade
offs
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
15
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4)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)Anyt
i
meyouha
vet
ode
c
i
dewhi
c
hac
t
i
ont
ot
a
keyouar
ee
xpe
r
i
e
nc
i
nge
c
onomi
ce
qui
t
y
.
B)Tr
ade
offsdonotappl
ywhe
nt
hec
ons
ume
r
spur
c
ha
s
eapr
oduc
tf
orwhi
c
ht
he
r
ei
se
x
c
e
s
ss
uppl
y
,
s
uc
hasas
t
oc
kc
l
e
ar
anc
es
al
e
.
C)Eve
r
yi
ndi
vi
dual
,noma
t
t
e
rhow r
i
c
horpoor
,i
sf
a
c
e
dwi
t
hmaki
ngt
r
ade
offs
.
D)Ec
onomi
c
si
sas
oc
i
als
c
i
e
nc
et
ha
ts
t
udi
e
st
het
r
ade
offswear
ef
or
c
e
dt
omakebe
c
aus
er
e
s
our
c
e
sar
e
unl
i
mi
t
e
d.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
7
Topi
c
:Tr
ade
offs
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
5)Whi
c
hoft
hef
ol
l
owi
ngi
sno
tane
xampl
eofane
c
onomi
ct
r
ade
offt
ha
tafir
m hast
omake
?
A)whe
t
he
ri
ti
sc
he
ape
rt
opr
oduc
ewi
t
hmor
emac
hi
ne
sorwi
t
hmor
ewor
ke
r
s
B)whe
t
he
ri
ti
st
oout
s
our
c
et
hepr
oduc
t
i
onofagoodors
e
r
vi
c
e
C)whe
t
he
rornotc
ons
ume
r
swi
l
lbuyi
t
spr
oduc
t
s
D)whe
t
he
ri
ts
houl
dpr
oduc
emor
eofi
t
spr
oduc
t
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7
Topi
c
:Tr
ade
offs
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
6)Thehi
ghe
s
tval
ue
dal
t
e
r
na
t
i
vet
ha
tmus
tbegi
ve
nupt
oe
nga
gei
nanac
t
i
vi
t
yi
st
hede
fini
t
i
onof
A)e
c
onomi
ce
qui
t
y
.
B)mar
gi
nalbe
ne
fit
.
C)oppor
t
uni
t
yc
os
t
.
D)mar
gi
nalc
os
t
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
7)TheCoffe
eNook,as
mal
lc
af
ene
arc
ampus
,s
e
l
l
sc
appuc
c
i
nosf
or$2.
50andRus
s
i
ant
e
ac
a
ke
sf
or$1.
00
e
ac
h.Wha
ti
st
heoppor
t
uni
t
yc
os
tofbuyi
ngac
appuc
c
i
no?
A)21/2Rus
s
i
ant
e
ac
ake
s
B)2
/5ofaRus
s
i
ant
e
ac
ake
C)$2.
50
D)$1.
00
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
7
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Anal
yt
i
cSki
l
l
s
8)Ar
l
e
nequi
t
she
r$125,
000aye
a
rj
obt
ot
akec
ar
eofhe
rai
l
i
ngpar
e
nt
s
.Wha
ti
st
heoppor
t
uni
t
yc
os
tof
he
rde
c
i
s
i
on?
A)ze
r
o,s
i
nc
es
hewi
l
lnol
onge
rbee
ar
ni
ngas
al
a
r
y
B)I
tde
pe
ndsont
he"
goi
ngr
a
t
e
"f
orhome
c
ar
epr
ovi
de
r
s
.
C)a
tl
e
as
t$125,
000
D)t
heval
ues
hea
t
t
r
i
but
e
st
ot
hes
a
t
i
s
f
ac
t
i
ons
her
e
c
e
i
ve
sf
r
om t
aki
ngc
ar
eofhe
rpar
e
nt
s
16
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Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Anal
yt
i
cSki
l
l
s
9)Thedi
s
t
r
i
but
i
onofi
nc
omepr
i
mar
i
l
yde
t
e
r
mi
ne
swhi
c
hoft
hef
undame
nt
ale
c
onomi
cque
s
t
i
ons
?
A)Wha
tgoodsands
e
r
vi
c
e
sar
et
obepr
oduc
e
d?
B)How t
hegoodsands
e
r
vi
c
e
sar
et
obepr
oduc
e
d?
C)Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
D)How t
opl
ant
hee
c
onomy?
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
8
Topi
c
:WhoWi
l
lRe
c
e
i
vet
heGoodsandSe
r
vi
c
e
sPr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
10)Aut
omobi
l
emanuf
ac
t
ur
e
r
spr
oduc
ear
angeofaut
omobi
l
e
ss
uc
hass
por
t
sut
i
l
i
t
yve
hi
c
l
e
s
,l
uxur
y
s
e
dans
,pi
c
kupt
r
uc
ksandc
ompa
c
tc
ar
s
.Wha
tf
undame
nt
ale
c
onomi
cque
s
t
i
onar
et
he
yaddr
e
s
s
i
ngby
maki
ngt
hi
sr
angeofpr
oduc
t
s
?
A)How t
opr
oduc
egoodst
ha
tc
ons
ume
r
swant
?
B)Whypr
oduc
eavar
i
e
t
yofaut
omobi
l
e
s
?
C)Wha
tt
opr
oduc
e
?
D)Whot
opr
oduc
eaut
omobi
l
e
sf
or
?
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
78
Topi
c
:Wha
tGoodsandSe
r
vi
c
e
sWi
l
lBePr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
17
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11)Cons
i
de
rt
hef
ol
l
owi
nge
c
onomi
ca
ge
nt
s
:
a
.t
hegove
r
nme
nt
b. c
ons
ume
r
s
c
. pr
oduc
e
r
s
Who,i
nac
e
nt
r
al
l
ypl
anne
de
c
onomy
,de
c
i
de
swha
tgoodsands
e
r
vi
c
e
swi
l
lbepr
oduc
e
dwi
t
ht
hes
c
ar
c
e
r
e
s
our
c
e
sa
vai
l
abl
ei
nt
ha
te
c
onomy?
A)t
hegove
r
nme
nt
B)pr
oduc
e
r
s
C)c
ons
ume
r
s
D)c
ons
ume
r
sandpr
oduc
e
r
s
E)t
hegove
r
nme
nt
,c
ons
ume
r
sandpr
oduc
e
r
s
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
78
Topi
c
:Wha
tGoodsandSe
r
vi
c
e
sWi
l
lBePr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
12)Thede
c
i
s
i
onaboutwha
tgoodsands
e
r
vi
c
e
swi
l
lbepr
oduc
e
dmadei
namar
ke
te
c
onomyi
smadeby
A)l
a
wmake
r
si
nt
hegove
r
nme
ntvot
i
ngonwha
twi
l
lbepr
oduc
e
d.
B)wor
ke
r
sde
c
i
di
ngt
opr
oduc
eonl
ywha
tt
hebos
ss
a
ysmus
tbepr
oduc
e
d.
C)pr
oduc
e
r
sde
c
i
di
ngwha
ts
oc
i
e
t
ywant
smos
t
.
D)c
ons
ume
r
sandfir
msc
hoos
i
ngwhi
c
hgoodsands
e
r
vi
c
e
st
obuyorpr
oduc
e
.
E)c
ons
ume
r
sdi
c
t
a
t
i
ngt
ofir
mswha
tt
he
yne
e
dmos
t
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
8
Topi
c
:Wha
tGoodsandSe
r
vi
c
e
sWi
l
lBePr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
13)Ce
nt
r
alpl
anni
ngr
e
l
i
e
son________t
ode
t
e
r
mi
newha
tt
ype
sofpr
oduc
t
st
omake
A)gove
r
nme
nte
mpl
oye
e
s
B)c
ons
ume
r
s
'
c
hoi
c
e
s
C)i
ndi
vi
dualbus
i
ne
s
s
e
s
D)c
ons
ume
r
s
'
want
s
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
8
Topi
c
:Ce
nt
r
al
l
yPl
anne
dEc
onomi
e
s
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:Ce
nt
r
alPl
anni
ngLe
adst
oSomeOddPr
oduc
t
s
18
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14)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
saboutt
hee
c
onomi
cde
c
i
s
i
onsc
ons
ume
r
s
,fir
ms
,andt
he
gove
r
nme
ntha
vet
omakei
sf
a
l
s
e
?
A)Gove
r
nme
nt
sf
ac
et
hepr
obl
e
m ofs
c
ar
c
i
t
yi
nmaki
nge
c
onomi
cde
c
i
s
i
ons
.
B)Onl
yi
ndi
vi
dual
sf
ac
es
c
ar
c
i
t
y;fir
msandt
hegove
r
nme
ntdonot
.
C)Bot
hfir
msandi
ndi
vi
dual
sf
ac
es
c
ar
c
i
t
y
.
D)Eac
hf
ac
e
st
hepr
obl
e
m ofs
c
ar
c
i
t
ywhi
c
hne
c
e
s
s
i
t
a
t
e
st
r
ade
offsi
nmaki
nge
c
onomi
cde
c
i
s
i
ons
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
8
Topi
c
:Wha
tGoodsandSe
r
vi
c
e
sWi
l
lBePr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
15)Whyi
si
tne
c
e
s
s
ar
yf
oral
le
c
onomi
cs
ys
t
e
mst
onotonl
ypr
ovi
depe
opl
ewi
t
hgoodsands
e
r
vi
c
e
s
,but
al
s
or
e
s
t
r
i
c
tt
he
mf
r
om ge
t
t
i
ngasmuc
hoft
he
s
egoodsands
e
r
vi
c
e
sast
he
ywi
s
h?
A)Fai
l
ur
et
odot
hi
sc
oul
dr
e
duc
et
hee
ffic
i
e
nc
yoft
hes
ys
t
e
m bypr
oduc
i
ngs
omegoodsands
e
r
vi
c
e
s
t
ha
tar
enotashi
ghl
yval
ue
dasot
he
r
s
.
B)Fai
l
ur
et
odot
hi
sc
oul
dl
e
adt
oani
ne
qui
t
abl
eal
l
oc
a
t
i
onofgoodsands
e
r
vi
c
e
spr
oduc
e
d.
C)Fai
l
ur
et
odot
hi
sc
oul
dl
e
adt
odr
as
t
i
cs
hor
t
a
ge
sofgoodands
e
r
vi
c
e
s
.
D)Fai
l
ur
et
odot
hi
sc
oul
dr
e
duc
e
se
ffic
i
e
nc
yandl
e
adst
oani
ne
qui
t
abl
eal
l
oc
a
t
i
onofout
put
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
8
Topi
c
:WhoWi
l
lRe
c
e
i
vet
heGoodsandSe
r
vi
c
e
sPr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Anal
yt
i
cSki
l
l
s
16)Whor
e
c
e
i
ve
st
hemos
tofwha
ti
spr
oduc
e
di
namar
ke
te
c
onomy?
A)l
a
wmake
r
sandot
he
rpol
i
t
i
c
al
l
yf
a
vor
e
dgr
oups
B)t
hos
ewhoar
ewi
l
l
i
ngandabl
et
obuyt
he
m
C)Eve
r
yoner
e
c
e
i
ve
sane
qualamount
.
D)pe
opl
ewhoe
ar
nt
hehi
ghe
s
ti
nc
ome
s
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
8
Topi
c
:WhoWi
l
lRe
c
e
i
vet
heGoodsandSe
r
vi
c
e
sPr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
17)How ar
et
hef
undame
nt
ale
c
onomi
cde
c
i
s
i
onsde
t
e
r
mi
ne
di
nNor
t
hKor
e
a?
A)I
ndi
vi
dual
s
,fir
ms
,andt
hegove
r
nme
nti
nt
e
r
a
c
ti
namar
ke
tt
omaket
he
s
ee
c
onomi
cde
c
i
s
i
ons
.
B)The
s
ede
c
i
s
i
onsar
emadebyt
hec
ount
r
y'
se
l
de
r
swhoha
vehadmuc
he
xpe
r
i
e
nc
ei
nans
we
r
i
ngt
he
s
e
que
s
t
i
ons
.
C)Thegove
r
nme
ntde
c
i
de
sbe
c
aus
eNor
t
hKor
e
ai
sac
e
nt
r
al
l
ypl
anne
de
c
onomy
.
D)TheUni
t
e
dNa
t
i
onsde
c
i
de
sbe
c
aus
eNor
t
hKor
e
ai
sade
ve
l
opi
nge
c
onomy
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
8
Topi
c
:Ce
nt
r
al
l
yPl
anne
dEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
18)How ar
et
hef
undame
nt
ale
c
onomi
cque
s
t
i
onsans
we
r
e
di
namar
ke
te
c
onomy?
A)Thegove
r
nme
ntal
onede
c
i
de
st
heans
we
r
s
.
B)I
ndi
vi
dual
s
,fir
ms
,andt
hegove
r
nme
nti
nt
e
r
ac
ti
nmar
ke
t
st
ode
c
i
det
heans
we
r
st
ot
he
s
eque
s
t
i
ons
.
C)Hous
e
hol
dsandfir
msi
nt
e
r
a
c
ti
nmar
ke
t
st
ode
c
i
det
heans
we
r
st
ot
he
s
eque
s
t
i
ons
.
D)Lar
gec
or
por
a
t
i
onsal
onede
c
i
det
heans
we
r
s
.
19
Copyright © 2018 Pearson Canada, Inc.
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lOMoARcPSD|9882954
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
89
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
19)Whi
c
hoft
hef
ol
l
owi
ngi
sapr
obl
e
mi
nhe
r
e
nti
nc
e
nt
r
al
l
ypl
anne
de
c
onomi
e
s
?
A)Hous
e
hol
dsandfir
msmakepoorde
c
i
s
i
onsi
nc
hoos
i
nghow r
e
s
our
c
e
sar
eal
l
oc
a
t
e
d.
B)The
r
ei
st
ool
i
t
t
l
epr
oduc
t
i
onofl
owc
os
t
,hi
ghqual
i
t
ygoodsands
e
r
vi
c
e
s
.
C)Pr
oduc
t
i
onmana
ge
r
sar
emor
ec
onc
e
r
ne
dwi
t
hs
a
t
i
s
f
yi
ngc
ons
ume
rwant
st
hanwi
t
hs
a
t
i
s
f
yi
ng
gove
r
nme
nt
'
sor
de
r
s
.
D)Expor
t
st
e
ndt
oe
x
c
e
e
di
mpor
t
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
8
Topi
c
:Ce
nt
r
al
l
yPl
anne
dEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
20)Al
loft
hef
ol
l
owi
ngc
ont
r
i
but
e
dt
ot
hedownf
al
loft
heSovi
e
tUni
oni
n1991e
x
c
e
p
t
A)publ
i
cdi
s
s
a
t
i
s
f
ac
t
i
onwi
t
hl
ow l
i
vi
ngs
t
andar
dsandpol
i
t
i
c
alr
e
pr
e
s
s
i
on.
B)ani
nabi
l
i
t
yt
opr
oduc
el
owc
os
tc
ons
ume
rgoodst
ha
thous
e
hol
dswant
e
d.
C)l
ac
kofhi
ghqual
i
t
ygoodsands
e
r
vi
c
e
s
.
D)l
ac
kofas
t
r
ongdi
c
t
a
t
orwhoc
anc
oor
di
na
t
ee
c
onomi
ca
c
t
i
vi
t
i
e
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
89
Topi
c
:Ce
nt
r
al
l
yPl
anne
dEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
21)________i
sas
i
t
ua
t
i
oni
nwhi
c
hagoodors
e
r
vi
c
ei
spr
oduc
e
da
tt
hel
owe
s
tpos
s
i
bl
ec
os
t
.
A)Al
l
oc
a
t
i
vee
ffic
i
e
nc
y
B)Pr
oduc
t
i
vee
ffic
i
e
nc
y
C)Equi
t
y
D)Opt
i
malmar
gi
nal
i
s
m
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
20
Copyright © 2018 Pearson Canada, Inc.
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22)Pr
oduc
t
i
vee
ffic
i
e
nc
yi
sac
hi
e
ve
dwhe
n
A)fir
msaddal
ow pr
ofitmar
gi
nt
ot
hegoodsands
e
r
vi
c
e
st
he
ypr
oduc
e
.
B)fir
mspr
oduc
et
hegoodsands
e
r
vi
c
e
st
ha
tc
ons
ume
r
sval
uemos
t
.
C)fir
mspr
oduc
egoodsands
e
r
vi
c
e
sa
tt
hel
owe
s
tc
os
t
.
D)t
he
r
ear
enos
hor
t
a
ge
sors
ur
pl
us
e
si
nt
hemar
ke
t
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
23)Whe
npr
oduc
t
i
onr
e
fle
c
t
sc
ons
ume
rpr
e
f
e
r
e
nc
e
s
,_
_______oc
c
ur
s
.
A)al
l
oc
a
t
i
vee
ffic
i
e
nc
y
B)pr
oduc
t
i
vee
ffic
i
e
nc
y
C)e
qui
t
y
D)e
ffic
i
e
ntc
e
nt
r
alpl
anni
ng
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
24)Al
l
oc
a
t
i
vee
ffic
i
e
nc
yi
sac
hi
e
ve
dwhe
nfir
mspr
oduc
egoodsands
e
r
vi
c
e
s
A)a
tt
hel
owe
s
tpos
s
i
bl
ec
os
t
.
B)t
ha
tc
ons
ume
r
sval
uemos
t
.
C)a
tt
hel
owe
s
toppor
t
uni
t
yc
os
t
.
D)a
tamar
gi
nalc
os
tofz
e
r
o.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
25)Mar
ke
t
spr
omot
e
A)e
qui
t
yandc
ompe
t
i
t
i
on.
B)vol
unt
ar
ye
x
c
hangeande
qual
i
t
y
.
C)e
qui
t
yande
qual
i
t
y
.
D)c
ompe
t
i
t
i
onandvol
unt
ar
ye
x
c
hange
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
89
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
21
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26)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ueaboutc
ompe
t
i
t
i
oni
namar
ke
t
?
A)Compe
t
i
t
i
onf
or
c
e
sfir
mst
oouts
our
c
et
hepr
oduc
t
i
onoft
he
i
rl
abour
i
nt
e
ns
i
vepr
oduc
t
s
.
B)Compe
t
i
t
i
onf
or
c
e
sfir
mst
ounde
r
c
utt
he
i
rs
e
l
l
i
ngpr
i
c
e
,t
husbe
ne
fit
i
ngc
ons
ume
r
swhowi
l
lbeabl
e
t
opur
c
has
epr
oduc
t
sa
tt
hel
owe
s
tpr
i
c
epos
s
i
bl
e
.
C)Compe
t
i
t
i
onf
or
c
e
sfir
mst
opr
oduc
eands
e
l
lpr
oduc
t
sasl
ongast
hemar
gi
nalbe
ne
fitt
oc
ons
ume
r
s
e
x
c
e
e
dst
hemar
gi
nalc
os
tofpr
oduc
t
i
on.
D)Compe
t
i
t
i
onf
or
c
e
sfir
mst
oaddonl
yl
ow pr
ofitma
r
gi
nst
ot
he
i
rc
os
t
sofpr
oduc
t
i
on.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
89
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
27)________i
nc
r
e
as
e
se
c
onomi
ce
ffic
i
e
nc
ybe
c
aus
ei
tf
or
c
e
sfir
mst
opr
oduc
eands
e
l
lgoodsands
e
r
vi
c
e
s
asl
ongast
headdi
t
i
onalbe
ne
fitt
oc
ons
ume
r
si
sgr
e
a
t
e
rt
hant
headdi
t
i
onalc
os
tofpr
oduc
t
i
on.
A)Compe
t
i
t
i
on
B)Vol
unt
ar
ye
x
c
hange
C)Equi
t
y
D)Ac
e
nt
r
al
l
ypl
anne
de
c
onomy
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
89
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
28)Whi
c
hoft
hef
ol
l
owi
ngge
ne
r
a
t
e
spr
oduc
t
i
vee
ffic
i
e
nc
y?
A)c
ompe
t
i
t
i
onamongs
e
l
l
e
r
s
B)c
ompe
t
i
t
i
onamongbuye
r
s
C)gove
r
nme
nti
ns
pe
c
t
or
s
D)gove
r
nme
ntpr
oduc
t
i
onr
ul
e
sandr
e
gul
a
t
i
ons
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
29)Vol
unt
ar
ye
x
c
hangebe
t
we
e
nbuye
r
sands
e
l
l
e
r
sge
ne
r
a
t
e
s________i
namar
ke
te
c
onomy
.
A)s
c
ar
c
i
t
y
B)al
l
oc
a
t
i
vee
ffic
i
e
nc
y
C)pr
oduc
t
i
vee
ffic
i
e
nc
y
D)e
qui
t
y
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
30)Whi
c
hoft
hef
ol
l
owi
ngi
sar
e
s
ul
tofamar
ke
te
c
onomy?
A)e
nvi
r
onme
nt
alpr
ot
e
c
t
i
on
B)ane
quali
nc
omedi
s
t
r
i
but
i
on
C)a
gr
e
e
me
ntone
qui
t
y
D)vol
unt
ar
ye
x
c
hange
Ans
we
r
:D
22
Copyright © 2018 Pearson Canada, Inc.
Downloaded by goobal sahoota (s201064076@ddsbstudent.ca)
lOMoARcPSD|9882954
Di
ff:
1 Pa
geRe
f
:
89
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
31)Pol
i
t
i
c
alc
andi
da
t
e
sof
t
e
nhol
df
undr
ai
s
e
r
sbyc
har
gi
ng"
pe
rpl
a
t
e
"f
ordi
nne
r
.We
ndypur
c
has
e
df
our
t
i
c
ke
t
st
oa$1,
000pe
rpl
a
t
edi
nne
rf
oral
oc
alc
i
t
yc
ounc
i
lc
andi
da
t
e
.I
st
hi
st
r
ans
ac
t
i
one
c
onomi
c
al
l
y
e
ffic
i
e
nt
?
A)No,pol
i
t
i
c
alc
andi
da
t
e
ss
houl
dne
ve
rbeal
l
owe
dt
oove
r
c
har
gef
oraf
undr
ai
s
i
ngdi
nne
r
.
B)Ye
s
,i
twasavol
unt
ar
ye
x
c
hanget
ha
tbe
ne
fit
e
dbot
hpar
t
i
e
s
.
C)No,We
ndypai
dt
oomuc
hf
orf
ourdi
nne
r
s
.
D)Ye
s
,i
ti
se
ffic
i
e
ntonl
yf
r
om t
hepe
r
s
pe
c
t
i
veoft
hec
andi
da
t
ebutnotf
r
om t
hepe
r
s
pe
c
t
i
veofWe
ndy
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
89
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Anal
yt
i
cSki
l
l
s
32)I
ne
c
onomi
c
s
,t
het
e
r
m"
e
qui
t
y"me
ans
A)e
ve
r
yonehasane
quals
t
andar
dofl
i
vi
ng.
B)t
hehar
de
s
twor
ki
ngi
ndi
vi
dual
sc
ons
umeal
lt
he
ywant
.
C)onl
ye
l
e
c
t
e
doffic
i
al
sha
vehi
ghs
t
andar
dsofl
i
vi
ng.
D)e
c
onomi
cbe
ne
fit
sar
edi
s
t
r
i
but
e
df
ai
r
l
y
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Equi
t
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
23
Copyright © 2018 Pearson Canada, Inc.
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33)Whi
c
hoft
hef
ol
l
owi
ngi
smot
i
va
t
e
dbyane
qui
t
yc
onc
e
r
n?
A)Somepr
ovi
nc
e
sandmuni
c
i
pal
i
t
i
e
sha
vet
r
ans
f
e
r
r
e
df
undst
of
oodbankpr
ogr
amsi
nor
de
rt
oi
nc
r
e
as
e
be
ne
fit
st
ol
owe
r
i
nc
omef
ami
l
i
e
s
.
B)Fol
l
owi
ngt
hei
mpl
e
me
nt
a
t
i
onofs
ubs
i
di
e
sf
ore
ne
r
gyc
ons
e
r
va
t
i
on,hous
e
hol
dde
mandf
orr
oof
t
op
s
ol
arpane
l
si
nc
r
e
as
e
dqui
t
es
i
gni
fic
ant
l
yi
nBC.
C)Somepr
ovi
nc
e
sal
l
ow aut
omot
i
vei
ns
ur
anc
ec
ompani
e
st
oc
har
geme
nandwome
ndi
ffe
r
e
ntr
a
t
e
sf
or
i
ns
ur
anc
e
.
D)Canadaoffe
r
spa
t
e
ntpr
ot
e
c
t
i
ont
opha
r
mac
e
ut
i
c
almanuf
ac
t
ur
e
r
st
opr
e
ve
ntot
he
r
sf
r
om dupl
i
c
a
t
i
ng
t
he
i
rpr
oduc
t
s
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
9
Topi
c
:Equi
t
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng,Et
hi
c
alRe
as
oni
ng
34)Whi
c
hoft
hef
ol
l
owi
ngi
smot
i
va
t
e
dbyane
ffic
i
e
nc
yc
onc
e
r
n?
A)I
n2013t
heAl
be
r
t
agove
r
nme
nthande
doutpr
e
pa
i
dc
r
e
di
tandde
bi
tc
ar
dst
ofloodvi
c
t
i
ms
.
B)Ther
i
ghtt
opur
c
has
et
i
c
ke
t
st
ot
heGr
e
yCupi
sde
c
i
de
dbyal
ot
t
e
r
y
.
C)Or
gant
r
ans
pl
antwai
t
i
ngl
i
s
t
sr
a
t
i
oni
ngs
c
ar
c
eki
dne
yst
ha
twoul
df
a
voryoungpa
t
i
e
nt
sove
rol
di
nan
e
ffor
tt
owr
i
ngmor
el
i
f
eoutofdona
t
e
dor
gans
.
D)Thef
e
de
r
algove
r
nme
ntEqui
l
i
za
t
i
onpr
ogr
am whi
c
hmake
sl
ar
ge
rt
r
ans
f
e
r
st
opoorpr
ovi
nc
e
st
hant
o
we
al
t
hyone
s
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng,Et
hi
c
alRe
as
oni
ng
35)Whi
c
hoft
hef
ol
l
owi
ngi
sane
xampl
eofane
ffic
i
e
nc
ye
qui
t
yt
r
ade
offf
a
c
e
dbye
c
onomi
ca
ge
nt
s
?
A)Pr
ovi
nc
i
alhe
al
t
hpr
ogr
amsar
enotc
os
te
ffe
c
t
i
ve
.I
ns
t
e
adoff
oc
us
i
ngonuni
ve
r
s
alac
c
e
s
st
ot
hehe
al
t
h
c
ar
es
ys
t
e
m,mone
ys
houl
dbes
pe
ntonpr
ogr
amst
ha
tpr
e
ve
ntdi
s
e
as
efir
s
tandt
r
e
a
t
i
ngdi
s
e
as
es
e
c
ond.
B)Conc
e
r
ne
daboutt
hef
al
l
i
ngbi
r
t
hr
a
t
e
,t
heFr
e
nc
hgove
r
nme
nthaspl
e
dge
dmor
emone
yf
orf
ami
l
i
e
s
wi
t
ht
hr
e
ec
hi
l
dr
e
n,i
nane
ffor
tt
oe
nc
our
a
gewor
ki
ngwome
nt
oha
vemor
ebabi
e
s
.
C)SomeCanadi
anuni
ve
r
s
i
t
i
e
sar
ea
c
t
i
ve
l
yr
e
c
r
ui
t
i
ngf
or
e
i
gns
t
ude
nt
sf
ort
he
i
rt
e
c
hnol
ogybas
e
d
pr
ogr
ams
.
D)Muni
c
i
pals
por
t
spr
ogr
amsmus
tc
har
geal
lpar
t
i
c
i
pant
st
hes
amepr
i
c
e
,e
ve
nwhe
npar
t
i
c
i
pant
sdon'
t
l
i
vei
nt
hemuni
c
i
pal
i
t
y
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Anal
yt
i
cSki
l
l
s
,
Et
hi
c
alRe
as
oni
ng
24
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36)Whi
c
hoft
hef
ol
l
owi
ngc
or
r
e
c
t
l
yde
s
c
r
i
be
st
her
e
l
a
t
i
ons
hi
pbe
t
we
e
ne
c
onomi
ce
ffic
i
e
nc
yand
e
c
onomi
ce
qui
t
y?
A)The
yar
ebot
haut
oma
t
i
c
al
l
yac
hi
e
ve
di
naf
r
e
emar
ke
te
c
onomy
.
B)The
yal
wa
ysc
al
lf
oroppos
i
t
eout
c
ome
s
.
C)The
r
ei
snoc
onfli
c
tbe
t
we
e
nt
het
wogoal
s
.
D)The
r
ei
sof
t
e
nat
r
ade
offbe
t
we
e
nt
het
wo.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
910
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
37)Al
l
oc
a
t
i
vee
ffic
i
e
nc
ybe
s
te
xpl
ai
ns________,andpr
oduc
t
i
vee
ffic
i
e
nc
ybe
s
te
xpl
ai
ns________.
A)how s
ome
t
hi
ngwi
l
lbepr
oduc
e
d;whe
ns
ome
t
hi
ngwi
l
lbepr
oduc
e
d
B)whe
ns
ome
t
hi
ngwi
l
lbepr
oduc
e
d;whys
ome
t
hi
ngwi
l
lbepr
oduc
e
d
C)whys
ome
t
hi
ngwi
l
lbepr
oduc
e
d;wha
twi
l
lbepr
oduc
e
d
D)wha
twi
l
lbepr
oduc
e
d;how s
ome
t
hi
ngwi
l
lbepr
oduc
e
d
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
38)As
s
umeane
c
onomi
c
si
ns
t
r
uc
t
orwantt
opr
omot
ee
qui
t
yi
nt
he
i
rc
l
as
s
r
oom.Todot
hi
s
,announc
e
t
ha
tal
ls
t
ude
nt
swi
l
lr
e
c
e
i
veafinalgr
adee
qualt
ot
hec
l
as
sa
ve
r
a
ge
.Bas
e
dont
hee
qui
t
ye
ffic
i
e
nc
y
t
r
ade
off,wha
ti
sal
i
ke
l
yout
c
ome
?
A)Mos
ts
t
ude
nt
swi
l
ls
pe
ndt
he
i
rt
i
meonot
he
rc
our
s
e
s
,r
e
s
ul
t
i
ngi
nl
i
t
t
l
el
e
ar
ni
ngandal
ow c
l
as
s
a
ve
r
a
ge
.
B)Fr
e
e
df
r
om c
ompe
t
i
t
i
on,s
t
ude
nt
swi
l
lf
ul
l
yappl
yt
he
ms
e
l
ve
st
oane
c
onomi
c
sc
our
s
ec
aus
i
ngt
he
c
l
as
sa
ve
r
a
get
or
i
s
e
.
C)St
ude
ntbe
ha
vi
ourwi
l
lnotc
hange
,bute
ve
r
yonei
nt
hec
l
as
swi
l
lha
vet
hes
amemar
k.
D)St
ude
nt
swi
l
lpute
xt
r
ae
ffor
ti
nt
ot
hi
se
c
onomi
c
sc
our
s
es
ol
e
l
yt
ohe
l
pot
he
rs
t
ude
nt
sdowe
l
l
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
10
Topi
c
:Tr
ade
offs
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Anal
yt
i
cSki
l
l
s
,
Et
hi
c
alRe
as
oni
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheEqui
t
yEffic
i
e
nc
yTr
ade
offi
nt
hec
l
as
s
r
oom.
39)Thegove
r
nme
ntmake
sal
le
c
onomi
cde
c
i
s
i
onsi
nami
x
e
de
c
onomy
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Mi
x
e
dEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
40)Whe
nvol
unt
ar
ye
x
c
hanget
ake
spl
ac
e
,bot
hpar
t
i
e
sgai
nf
r
om t
hee
x
c
hange
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
89
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
25
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lOMoARcPSD|9882954
AACSB:Re
fle
c
t
i
veThi
nki
ng
41)Auni
ve
r
s
i
t
ymus
tde
c
i
dei
fi
twant
st
ooffe
rmor
eI
nt
e
r
ne
t
bas
e
dc
l
as
s
e
s
.Thi
sde
c
i
s
i
oni
nvol
ve
s
ans
we
r
i
ngt
hee
c
onomi
cque
s
t
i
onof"
wha
tt
opr
oduc
e
.
"
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
78
Topi
c
:Wha
tGoodsandSe
r
vi
c
e
sWi
l
lBePr
oduc
e
d?
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
42)Onede
s
i
r
abl
eout
c
omeofamar
ke
te
c
onomyi
st
ha
ti
tl
e
adst
oamor
ee
qui
t
abl
edi
s
t
r
i
but
i
onof
i
nc
ome
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
9
Topi
c
:Mar
ke
tEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
43)Wha
ti
se
qui
t
y
,andhow doe
si
tdi
ffe
rf
r
om e
ffic
i
e
nc
y?
Ans
we
r
:Equi
t
yr
e
f
e
r
st
ot
hef
ai
rdi
s
t
r
i
but
i
onofe
c
onomi
cbe
ne
fit
s
.I
ne
c
onomi
c
s
,e
ffic
i
e
nc
yr
e
f
e
r
st
o
l
e
as
tc
os
tpr
oduc
t
i
on(
pr
oduc
t
i
vee
ffic
i
e
nc
y)andpr
oduc
i
ngac
c
or
di
ngt
ohumanpr
e
f
e
r
e
nc
e
s(
al
l
oc
a
t
i
ve
e
ffic
i
e
nc
y)
.
Di
ff:
2 Pa
geRe
f
:
9
Topi
c
:Equi
t
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
44)Wha
ti
soppor
t
uni
t
yc
os
t
?
Ans
we
r
:Oppor
t
uni
t
yc
os
tr
e
f
e
r
st
ot
hehi
ghe
s
t
val
ue
dal
t
e
r
na
t
i
vet
ha
tmus
tbegi
ve
nupt
oe
nga
gei
nan
ac
t
i
vi
t
y
.Fore
xampl
e
,t
heoppor
t
uni
t
yc
os
toft
aki
ngt
hi
se
c
onomi
c
sc
l
as
si
swha
tyouar
egi
vi
ngupt
o
t
aket
hec
l
as
s
,whi
c
hma
ybet
aki
nganot
he
rc
l
as
ss
uc
hasac
c
ount
i
ngorps
yc
hol
ogy
,wor
ki
nge
xt
r
ahour
s
a
tyourj
ob
,ore
xt
r
as
l
e
e
p(
whi
c
he
ve
ri
syourhi
ghe
s
t
val
ue
dal
t
e
r
na
t
i
ve
)
.
Di
ff:
2 Pa
geRe
f
:
7
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
26
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45)De
finepr
oduc
t
i
vee
ffic
i
e
nc
y
.Doe
spr
oduc
t
i
vee
ffic
i
e
nc
yi
mpl
yal
l
oc
a
t
i
vee
ffic
i
e
nc
y?Expl
ai
n.
Ans
we
r
:Pr
oduc
t
i
vee
ffic
i
e
nc
yi
sane
ffic
i
e
nc
yc
r
i
t
e
r
i
ont
ha
tde
s
c
r
i
be
sas
i
t
ua
t
i
oni
nwhi
c
hgoodsand
s
e
r
vi
c
e
sar
epr
oduc
e
da
tt
hel
owe
s
tpos
s
i
bl
ec
os
t
.I
tdoe
snoti
mpl
yal
l
oc
a
t
i
vee
ffic
i
e
nc
ywhi
c
hi
sa
c
r
i
t
e
r
i
onas
s
oc
i
a
t
e
dwi
t
hpr
oduc
i
nggoodsands
e
r
vi
c
e
st
ha
tc
ons
ume
r
sval
uemos
t
.Fore
xampl
e
,a
manuf
ac
t
ur
e
rma
ybeabl
et
opr
oduc
et
ype
wr
i
t
e
r
sa
tt
hel
owe
s
tpos
s
i
bl
ec
os
tofs
a
y
,$200butt
hi
sdoe
s
notne
c
e
s
s
ar
i
l
yme
ant
ha
tc
ons
ume
r
sar
ewi
l
l
i
ngt
opa
y$200f
orat
ype
wr
i
t
e
r
.
Di
ff:
3 Pa
geRe
f
:
9
Topi
c
:Effic
i
e
nc
y
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Anal
yt
i
cSki
l
l
s
46)Wha
ti
sac
e
nt
r
al
l
ypl
anne
de
c
onomy?
Ans
we
r
:Ac
e
nt
r
al
l
ypl
anne
de
c
onomyi
sane
c
onomyi
nwhi
c
ht
hegove
r
nme
ntde
c
i
de
show e
c
onomi
c
r
e
s
our
c
e
swi
l
lbeal
l
oc
a
t
e
d.
Di
ff:
3 Pa
geRe
f
:
89
Topi
c
:Ce
nt
r
al
l
yPl
anne
dEc
onomi
e
s
Le
ar
ni
ngOut
c
ome
:1
.
2Di
s
c
us
show as
oc
i
e
t
yans
we
r
st
he
s
et
hr
e
eke
ye
c
onomi
cque
s
t
i
ons
:Wha
tgoodsands
e
r
vi
c
e
s
wi
l
lbepr
oduc
e
d?How wi
l
lt
hegoodsands
e
r
vi
c
e
sbepr
oduc
e
d?Whowi
l
lr
e
c
e
i
vet
hegoodsands
e
r
vi
c
e
spr
oduc
e
d?
AACSB:Re
fle
c
t
i
veThi
nki
ng
1.3 Understand what economic models are and aren't, and why they're a good idea
1)Ec
onomi
cmode
l
sdoal
loft
hef
ol
l
owi
nge
x
c
e
p
t
A)ans
we
re
c
onomi
cque
s
t
i
ons
.
B)por
t
r
a
yr
e
al
i
t
yi
nal
li
t
smi
nut
ede
t
ai
l
s
.
C)makee
c
onomi
ci
de
ase
xpl
i
c
i
tandc
onc
r
e
t
ef
orus
ebyde
c
i
s
i
onmake
r
s
.
D)s
i
mpl
i
f
ys
omeas
pe
c
tofe
c
onomi
cl
i
f
e
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
10
Topi
c
:Ec
onomi
cMode
l
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
2)Al
loft
hef
ol
l
owi
ngar
epar
tofane
c
onomi
cmode
le
x
c
e
p
t
A)as
s
umpt
i
ons
.
B)hypot
he
s
e
s
.
C)da
t
a
.
D)opi
ni
ons
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
10
Topi
c
:Ec
onomi
cMode
l
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
27
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3)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
saboutpos
i
t
i
vee
c
onomi
canal
ys
i
si
sf
a
l
s
e
?
A)Pos
i
t
i
veanal
ys
i
sus
e
sane
c
onomi
cmode
lt
oe
s
t
i
ma
t
et
hec
os
t
sandbe
ne
fit
sofdi
ffe
r
e
ntc
our
s
eof
ac
t
i
ons
.
B)The
r
ei
smuc
hmor
edi
s
a
gr
e
e
me
ntamonge
c
onomi
s
t
sove
rnor
ma
t
i
vee
c
onomi
canal
ys
i
st
hanove
r
pos
i
t
i
vee
c
onomi
canal
ys
i
s
.
C)The
r
ei
smuc
hmor
edi
s
a
gr
e
e
me
ntamonge
c
onomi
s
t
sove
rpos
i
t
i
vee
c
onomi
canal
ys
i
st
hanove
r
nor
ma
t
i
vee
c
onomi
canal
ys
i
s
.
D)Unl
i
kenor
ma
t
i
vee
c
onomi
cana
l
ys
i
s
,pos
i
t
i
vee
c
onomi
cana
l
ys
i
sc
anbet
e
s
t
e
d.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
4)Whi
c
hoft
hef
ol
l
owi
ngi
sapos
i
t
i
vee
c
onomi
cs
t
a
t
e
me
nt
?
A)Thes
t
andar
dofl
i
vi
ngi
nCanadas
houl
dbehi
ghe
r
.
B)I
ft
hepr
i
c
eofi
Phone
sf
al
l
s
,al
ar
ge
rquant
i
t
yofi
Phone
swi
l
lbepur
c
has
e
d.
C)Thegove
r
nme
nts
houl
dr
e
s
t
r
uc
t
ur
et
hehe
al
t
hc
ar
es
ys
t
e
m.
D)TheOnt
ar
i
ogove
r
nme
nts
houl
dnotha
vebai
l
e
doutCanadi
anaut
omanuf
ac
t
ur
e
r
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
5)Whi
c
hoft
hef
ol
l
owi
ngi
sapos
i
t
i
vee
c
onomi
cs
t
a
t
e
me
nt
?
A)Pe
opl
es
houl
dnotbuySUVs
.
B)Thegove
r
nme
nts
houl
dmanda
t
ee
l
e
c
t
r
i
caut
omobi
l
e
s
.
C)Sc
a
r
c
i
t
yne
c
e
s
s
i
t
a
t
e
st
ha
tpe
opl
emaket
r
ade
offs
.
D)For
e
i
gnwor
ke
r
ss
houl
dnotbeal
l
owe
dt
owor
kf
orl
owe
rwa
ge
st
hant
hec
i
t
i
ze
nsofac
ount
r
y
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
6)Whi
c
hoft
hef
ol
l
owi
ngi
sanor
ma
t
i
vee
c
onomi
cs
t
a
t
e
me
nt
?
A)Ri
s
i
nggl
obalde
mandf
orc
oalhasl
e
dt
oi
nc
r
e
as
e
si
nt
hepr
i
c
eofc
oal
.
B)Wi
t
hr
i
s
i
ngmor
t
ga
ger
a
t
e
sandr
i
s
i
ngune
mpl
oyme
ntr
a
t
e
s
,t
henumbe
rofuns
ol
dhome
shas
i
nc
r
e
as
e
d.
C)Tor
ont
oi
sc
ons
i
de
r
i
ngi
nc
r
e
as
i
ngf
undsf
orl
i
ght
r
ai
lde
ve
l
opme
ntt
opr
omot
et
heus
eofpubl
i
c
t
r
ans
por
t
a
t
i
on.
D)Phar
ma
c
e
ut
i
c
almanuf
ac
t
ur
e
r
ss
houl
dnotbeal
l
owe
dt
opa
t
e
ntt
he
i
rpr
oduc
t
ss
opr
e
s
c
r
i
pt
i
ondr
ugs
woul
dbemor
ea
ffor
dabl
e
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
7)Whi
c
hoft
hef
ol
l
owi
ngi
sanor
ma
t
i
vee
c
onomi
cs
t
a
t
e
me
nt
?
A)Thepr
i
c
eofgas
ol
i
nei
st
oohi
gh.
B)Thec
ur
r
e
nthi
ghpr
i
c
eofgas
ol
i
nei
st
her
e
s
ul
tofs
t
r
ongwor
l
dwi
dede
mand.
C)Whe
nt
hepr
i
c
eofgas
ol
i
ner
i
s
e
s
,t
hequant
i
t
yofgas
ol
i
nepur
c
has
e
df
al
l
s
.
D)Whe
nt
hepr
i
c
eofgas
ol
i
ner
i
s
e
s
,t
r
ans
por
t
a
t
i
onc
os
t
sr
i
s
e
.
Ans
we
r
:A
28
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Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
8)Whi
c
hoft
hef
ol
l
owi
ngque
s
t
i
onsors
t
a
t
e
me
nt
sr
e
gar
di
ngmi
ni
mum wa
gei
snor
ma
t
i
ve
?
A)How doc
hange
si
nmi
ni
mum wa
ge
saffe
c
tt
hee
mpl
oyme
ntoppor
t
uni
t
i
e
soft
e
e
ns
?
B)Pe
opl
ewor
ki
ngi
nt
her
e
t
ai
ls
e
c
t
orde
s
e
r
vehi
ghe
rpa
y
.
C)Wa
ge
spl
a
yar
ol
ei
nc
aus
i
ngs
ome
onet
oappl
yf
oraj
ob.
D)Hi
ghe
rmi
ni
mum wa
ge
swi
l
lc
aus
efir
mst
oe
mpl
oyf
e
we
rpe
opl
e
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:Shoul
dt
heGove
r
nme
ntofOnt
ar
i
oI
nc
r
e
as
ei
t
sMi
ni
mum Wa
ge
?
9)Thee
c
onomi
cana
l
ys
i
sofmi
ni
mum wa
gei
nvol
ve
sbot
hnor
ma
t
i
veandpos
i
t
i
veana
l
ys
i
s
.Cons
i
de
rt
he
f
ol
l
owi
ngc
ons
e
que
nc
e
sofami
ni
mum wa
ge
:
a
. Themi
ni
mum wa
gel
a
wc
aus
e
sune
mpl
oyme
nt
.
b. Ami
ni
mum wa
gel
a
w be
ne
fit
ss
omegr
oupsandhur
t
sot
he
r
s
.
c
. I
ns
omec
i
t
i
e
ss
uc
hasSanFr
anc
i
s
c
oandNe
w Yor
k,mi
ni
mum wa
gel
a
wsar
ene
c
e
s
s
ar
yf
orl
ows
ki
l
l
e
dwor
ke
r
st
os
t
a
yi
nt
hec
i
t
y
.
d. Thegai
nst
owi
nne
r
sofami
ni
mum wa
gel
a
ws
houl
dbeval
ue
dmor
ehi
ghl
yt
hant
hel
os
s
e
st
o
l
os
e
r
sbe
c
aus
et
hel
a
t
t
e
rpr
i
mar
i
l
yc
ompr
i
s
e
sbus
i
ne
s
s
e
s
.
Whi
c
hoft
hec
ons
e
que
nc
e
sabovear
epos
i
t
i
ves
t
a
t
e
me
nt
sandwhi
c
har
enor
ma
t
i
ves
t
a
t
e
me
nt
s
?
A)a
,b
,andcar
epos
i
t
i
ves
t
a
t
e
me
nt
sanddi
sanor
ma
t
i
ves
t
a
t
e
me
nt
.
B)aandbar
epos
i
t
i
ves
t
a
t
e
me
nt
s
,canddar
enor
ma
t
i
ves
t
a
t
e
me
nt
.
C)Onl
yai
sapos
i
t
i
ves
t
a
t
e
me
nt
,b
,canddar
enor
ma
t
i
ves
t
a
t
e
me
nt
s
.
D)aandcar
epos
i
t
i
ves
t
a
t
e
me
nt
s
,banddar
enor
ma
t
i
ves
t
a
t
e
me
nt
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
1213
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:Shoul
dt
heGove
r
nme
ntofOnt
ar
i
oI
nc
r
e
as
ei
t
sMi
ni
mum Wa
ge
?
29
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10)"
Ani
nc
r
e
as
ei
nt
hepr
i
c
eofgas
ol
i
newi
l
li
nc
r
e
as
et
hede
mandf
orhybr
i
dve
hi
c
l
e
s
.
"Thi
ss
t
a
t
e
me
nti
s
ane
xampl
eofapos
i
t
i
vee
c
onomi
cs
t
a
t
e
me
nt
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
11)"
Thedi
s
t
r
i
but
i
onofi
nc
omes
houl
dbel
e
f
tt
ot
hemar
ke
t
"i
sane
xampl
eofapos
i
t
i
vee
c
onomi
c
s
t
a
t
e
me
nt
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
12)Pos
i
t
i
veanal
ys
i
si
sc
onc
e
r
ne
dwi
t
h"
wha
toughtt
obe
,
"whi
l
enor
ma
t
i
veana
l
ys
i
si
sc
onc
e
r
ne
dwi
t
h
"
wha
ti
s
.
"
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
13)Wha
ti
st
hedi
ffe
r
e
nc
ebe
t
we
e
npos
i
t
i
vee
c
onomi
canal
ys
i
sandnor
ma
t
i
vee
c
onomi
canal
ys
i
s
?Gi
ve
onee
xampl
ee
ac
hofapos
i
t
i
veandnor
ma
t
i
vee
c
onomi
ci
s
s
ueorque
s
t
i
onors
t
a
t
e
me
nt
.
Ans
we
r
:Pos
i
t
i
vee
c
onomi
canal
ys
i
si
sc
onc
e
r
ne
dwi
t
hwha
ti
s
.Pos
i
t
i
vee
c
onomi
cana
l
ys
i
sr
e
ac
he
s
c
onc
l
us
i
onsbas
e
donve
r
i
fiabl
es
t
a
t
e
me
nt
s
.Nor
ma
t
i
vee
c
onomi
cana
l
ys
i
s
,ont
heot
he
rhand,i
s
c
onc
e
r
ne
dwi
t
hwha
toughtt
obe
.Nor
ma
t
i
veanal
ys
i
sr
e
ac
he
sc
onc
l
us
i
onsbas
e
donopi
ni
ons
.(
St
ude
nt
s
wi
l
lgi
vemanydi
ffe
r
e
nte
xampl
e
s
.
)
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Nor
ma
t
i
veandPos
i
t
i
veAnal
ys
i
s
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
14)Expl
ai
nwhye
c
onomi
c
si
sc
ons
i
de
r
e
das
oc
i
als
c
i
e
nc
e
.
Ans
we
r
:Ec
onomi
c
si
sas
oc
i
als
c
i
e
nc
ebe
c
aus
ei
ts
t
udi
e
st
hea
c
t
i
onsofi
ndi
vi
dual
s
.Asas
oc
i
als
c
i
e
nc
e
,
e
c
onomi
c
sc
ons
i
de
r
shumanbe
ha
vi
or
,par
t
i
c
ul
ar
l
yde
c
i
s
i
onmaki
ngbe
ha
vi
or
,i
ne
ve
r
yc
ont
e
xt
.
Di
ff:
2 Pa
geRe
f
:
11
Topi
c
:Ec
onomi
c
sasaSoc
i
alSc
i
e
nc
e
Le
ar
ni
ngOut
c
ome
:1
.
3Unde
r
s
t
andwha
te
c
onomi
cmode
l
sar
eandar
e
n'
t
,andwhyt
he
y'
r
eagoodi
de
a
AACSB:Re
fle
c
t
i
veThi
nki
ng
30
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1.4 Distinguish between microeconomics and macroeconomics
1)Whi
c
hoft
hef
ol
l
owi
ngi
sami
c
r
oe
c
onomi
c
sque
s
t
i
on?
A)How muc
hwi
l
lbes
a
ve
dandhow muc
hwi
l
lbepr
oduc
e
di
nt
hee
nt
i
r
ee
c
onomy?
B)Wha
twi
l
lt
hel
e
ve
lofe
c
onomi
cgr
owt
hbei
nt
hee
nt
i
r
ee
c
onomy?
C)Wha
tf
ac
t
or
sde
t
e
r
mi
net
hepr
i
c
eofc
ar
r
ot
s
?
D)Wha
tde
t
e
r
mi
ne
st
hea
ve
r
a
gepr
i
c
el
e
ve
landi
nfla
t
i
on?
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
13
Topi
c
:Mi
c
r
oe
c
onomi
c
s
Le
ar
ni
ngOut
c
ome
:1
.
4Di
s
t
i
ngui
s
hbe
t
we
e
nmi
c
r
oe
c
onomi
c
sandmac
r
oe
c
onomi
c
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
2)Mi
c
r
oe
c
onomi
c
si
st
hes
t
udyof
A)how hous
e
hol
dsandfir
msmakec
hoi
c
e
s
.
B)t
hee
c
onomyasawhol
e
.
C)t
hegl
obale
c
onomy
.
D)t
opi
c
ss
uc
hasune
mpl
oyme
nt
,i
nfla
t
i
on,ande
c
onomi
cgr
owt
h.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
13
Topi
c
:Mi
c
r
oe
c
onomi
c
s
Le
ar
ni
ngOut
c
ome
:1
.
4Di
s
t
i
ngui
s
hbe
t
we
e
nmi
c
r
oe
c
onomi
c
sandmac
r
oe
c
onomi
c
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
3)Whi
c
hoft
hef
ol
l
owi
ngi
samac
r
oe
c
onomi
c
sque
s
t
i
on?
A)Wha
tde
t
e
r
mi
ne
st
hei
nfla
t
i
onr
a
t
e
?
B)Wha
tde
t
e
r
mi
ne
st
hes
i
zeoft
hefil
mi
ndus
t
r
yi
nCanada?
C)Wha
tf
ac
t
or
sde
t
e
r
mi
net
hepr
i
c
eofc
ar
r
ot
s
?
D)Wha
tde
t
e
r
mi
ne
st
hewa
geofaut
owor
ke
r
s
?
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
13
Topi
c
:Mac
r
oe
c
onomi
c
s
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:1
.
4Di
s
t
i
ngui
s
hbe
t
we
e
nmi
c
r
oe
c
onomi
c
sandmac
r
oe
c
onomi
c
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
4)Mac
r
oe
c
onomi
c
si
st
hes
t
udyof
A)how hous
e
hol
dsmakec
hoi
c
e
s
.
B)how fir
msmakec
hoi
c
e
s
.
C)how hous
e
hol
dsandfir
msmakec
hoi
c
e
s
.
D)t
hee
c
onomyasawhol
e
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
13
Topi
c
:Mac
r
oe
c
onomi
c
s
Le
ar
ni
ngOut
c
ome
:1
.
4Di
s
t
i
ngui
s
hbe
t
we
e
nmi
c
r
oe
c
onomi
c
sandmac
r
oe
c
onomi
c
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
31
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5)Exami
ni
ngt
hec
ondi
t
i
onst
ha
tc
oul
dl
e
adt
oar
e
c
e
s
s
i
oni
nane
c
onomyi
sane
xampl
eof
mac
r
oe
c
onomi
c
st
opi
c
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
13
Topi
c
:Mac
r
oe
c
onomi
c
s
Le
ar
ni
ngOut
c
ome
:1
.
4Di
s
t
i
ngui
s
hbe
t
we
e
nmi
c
r
oe
c
onomi
c
sandmac
r
oe
c
onomi
c
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
6)Thede
c
i
s
i
onsAppl
emake
si
nde
t
e
r
mi
ni
ngpr
oduc
t
i
onl
e
ve
l
sf
ori
t
si
Phonei
sane
xampl
eofa
mi
c
r
oe
c
onomi
c
st
opi
c
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
13
Topi
c
:Mi
c
r
oe
c
onomi
c
s
Le
ar
ni
ngOut
c
ome
:1
.
4Di
s
t
i
ngui
s
hbe
t
we
e
nmi
c
r
oe
c
onomi
c
sandmac
r
oe
c
onomi
c
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
7)Whi
c
hoft
hef
ol
l
owi
ngar
epr
i
mar
i
l
ymac
r
oe
c
onomi
ct
opi
c
sandwhi
c
har
epr
i
mar
i
l
ymi
c
r
oe
c
onomi
c
t
opi
c
s
?
a
. gas
ol
i
nepr
i
c
e
s
b.une
mpl
oyme
nt
c
.i
nfla
t
i
on
d.he
al
t
hc
ar
ec
os
t
s
e
. ai
rpol
l
ut
i
on
f
.e
c
onomi
cgr
owt
h
Ans
we
r
:b
,c
,andfar
epr
i
mar
i
l
ymac
r
oe
c
onomi
ct
opi
c
s
.
a
,d,andear
epr
i
mar
i
l
ymi
c
r
oe
c
onomi
ct
opi
c
s
.
Di
ff:
2 Pa
geRe
f
:
13
Topi
c
:Mi
c
r
oe
c
onomi
c
s
Le
ar
ni
ngOut
c
ome
:1
.
4Di
s
t
i
ngui
s
hbe
t
we
e
nmi
c
r
oe
c
onomi
c
sandmac
r
oe
c
onomi
c
s
AACSB:Re
fle
c
t
i
veThi
nki
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1.5 Define important economic terms. (It's not all Greek.)
1)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ueaboutpr
ofit
?
A)Pr
ofitr
e
f
e
r
st
ot
her
e
ve
nuer
e
c
e
i
ve
df
r
om t
hes
al
eofaquant
i
t
yofgoods
.
B)Pr
ofiti
sc
al
c
ul
a
t
e
dbymul
t
i
pl
yi
ngpr
i
c
eandquant
i
t
ys
ol
d.
C)Thet
e
r
ms"
ac
c
ount
i
ngpr
ofit
"and"
e
c
onomi
cpr
ofit
"c
anbeus
e
di
nt
e
r
c
hange
abl
y
.
D)Pr
ofiti
st
hedi
ffe
r
e
nc
ebe
t
we
e
nr
e
ve
nueandc
os
t
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
14
Topi
c
:Pr
ofit
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
2)I
ne
c
onomi
c
s
,t
heac
c
umul
a
t
e
ds
ki
l
l
sandt
r
ai
ni
ngt
ha
twor
ke
r
sha
vei
sknownas
A)humanc
api
t
al
.
B)e
nt
r
e
pr
e
ne
ur
s
hi
p.
C)phys
i
c
alc
api
t
al
.
D)i
nnova
t
i
on.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
15
Topi
c
:HumanCapi
t
al
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
3)Whi
c
hoft
hef
ol
l
owi
ngi
sane
xampl
eofana
c
t
i
vi
t
yunde
r
t
ake
nbyane
nt
r
e
pr
e
ne
ur
?
A)de
s
i
gni
ngyourl
ands
c
api
ngf
oryourne
w home
B)hol
di
ngapos
i
t
i
onast
hepr
e
s
i
de
ntofas
mal
luni
ve
r
s
i
t
y
C)r
unni
ngf
orPr
i
meMi
ni
s
t
e
rofCanada
D)s
t
ar
t
i
ngyourownpe
ts
i
t
t
i
ngbus
i
ne
s
s
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
14
Topi
c
:Ent
r
e
pr
e
ne
ur
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
4)Themac
hi
ne
swor
ke
r
sha
vet
owor
kwi
t
har
ec
ons
i
de
r
e
d
A)humanc
api
t
al
.
B)phys
i
c
alc
api
t
al
.
C)e
nt
r
e
pr
e
ne
ur
s
hi
p.
D)financ
i
alc
api
t
al
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
15
Topi
c
:Capi
t
al
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
33
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5)Te
c
hnol
ogyi
sde
fine
das
A)t
hepr
oc
e
s
sofde
ve
l
opi
ngandr
e
vi
s
i
ngmode
l
s
.
B)ne
wi
nnova
t
i
onsandc
r
e
a
t
i
ons
.
C)t
hepr
oc
e
s
s
e
sus
e
dt
opr
oduc
egoodsands
e
r
vi
c
e
s
.
D)t
hepr
oc
e
s
sofr
e
c
yc
l
i
ngpr
oduc
t
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
14
Topi
c
:Te
c
hnol
ogy
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
6)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
saboute
c
onomi
cr
e
s
our
c
e
si
st
r
ue
?
A)Ec
onomi
cr
e
s
our
c
e
si
nc
l
udefinanc
i
alc
api
t
alandmone
y
.
B)Ec
onomi
cr
e
s
our
c
e
sar
eal
s
oc
al
l
e
df
a
c
t
or
sofpr
oduc
t
i
on.
C)Ec
onomi
cr
e
s
our
c
e
sar
eus
e
donl
ybybus
i
ne
s
s
e
s
.
D)Al
le
c
onomi
cr
e
s
our
c
e
sar
emanmade
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
14
Topi
c
:Re
s
our
c
e
s
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
7)Ast
hemi
ni
mum wa
ger
i
s
e
s
A)t
hepr
i
c
eoft
ake
outc
offe
ewi
l
lr
i
s
e
.
B)t
hepr
i
c
eoft
ake
outc
offe
ewi
l
lf
al
l
.
C)t
he
r
ewi
l
lbeas
hor
t
a
geofc
offe
e
.
D)t
he
r
ewi
l
lbeas
ur
pl
usofc
offe
e
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
15
Topi
c
:HumanCapi
t
al
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Ec
onomi
c
si
nYourLi
f
e
:How Muc
hWi
l
lYouPa
yf
oraCupofCoffe
e
?
8)I
fc
l
i
ma
t
ec
hangec
ont
i
nue
st
or
e
duc
et
heamountofgr
e
e
nc
offe
ea
vai
l
abl
et
or
oas
t
e
r
s
A)t
hepr
i
c
eoft
akeoutc
offe
ewi
l
lr
i
s
e
.
B)pe
opl
ewor
ki
ngi
nc
offe
es
hopswi
l
lr
e
c
e
i
vehi
ghe
rwa
ge
s
.
C)mor
epe
opl
ewi
l
lwantt
odr
i
nkc
offe
et
hanbe
f
or
e
.
D)mor
ee
nt
r
e
pr
e
ne
ur
swi
l
le
nt
e
rt
her
oas
t
i
ngbus
i
ne
s
s
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
16
Topi
c
:HumanCapi
t
al
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
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9)I
nt
hemar
ke
tf
orf
a
c
t
or
sofpr
oduc
t
i
on,fir
mse
ar
ni
nc
omebys
e
l
l
i
nggoodsands
e
r
vi
c
e
st
o
hous
e
hol
ds
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
14
Topi
c
:Re
s
our
c
e
s
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
10)Onee
xampl
eofhumanc
api
t
ali
st
heamountofs
ki
l
l
st
ha
tyouha
ve
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
15
Topi
c
:HumanCapi
t
al
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
11)Li
s
tt
hefivemai
nf
ac
t
or
sofpr
oduc
t
i
on.
Ans
we
r
:Thefivemai
nf
ac
t
or
sofpr
oduc
t
i
onar
el
abour
,c
api
t
al
,humanc
api
t
al
,na
t
ur
alr
e
s
our
c
e
s
,and
e
nt
r
e
pr
e
ne
ur
i
alabi
l
i
t
y
.
Di
ff:
1 Pa
geRe
f
:
14
Topi
c
:Re
s
our
c
e
s
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
12)Wha
ti
st
hedi
ffe
r
e
nc
ebe
t
we
e
nani
nve
nt
i
onandani
nnova
t
i
on?
Ans
we
r
:Ani
nve
nt
i
oni
st
hede
ve
l
opme
ntofane
w goodorane
w pr
oc
e
s
sf
ormaki
ngagood.An
i
nnova
t
i
oni
st
hepr
ac
t
i
c
alappl
i
c
a
t
i
onofani
nve
nt
i
on.I
nnova
t
i
onc
oul
dal
s
or
e
f
e
rt
oanys
i
gni
fic
ant
i
mpr
ove
me
nti
nagoodori
nt
heme
ansofpr
oduc
i
ngagood.
Di
ff:
1 Pa
geRe
f
:
14
Topi
c
:I
nnova
t
i
on
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
13)Expl
ai
nt
hedi
ffe
r
e
nc
ebe
t
we
e
nafir
m'
sr
e
ve
nueandi
t
spr
ofit
.
Ans
we
r
:Afir
m'
sr
e
ve
nuei
st
het
ot
alamountr
e
c
e
i
ve
df
ors
e
l
l
i
ngagoodors
e
r
vi
c
e
.I
ti
sc
al
c
ul
a
t
e
dby
mul
t
i
pl
yi
ngt
hepr
i
c
epe
runi
tbyt
henumbe
rofuni
t
ss
ol
d.Afir
m'
spr
ofiti
st
hedi
ffe
r
e
nc
ebe
t
we
e
ni
t
s
r
e
ve
nueandi
t
sc
os
t
s
.
Di
ff:
1 Pa
geRe
f
:
14
Topi
c
:Re
ve
nue
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
14)Wha
tar
es
omeoft
her
e
as
onsgi
ve
nf
ort
het
hei
nc
r
e
as
ei
nc
offe
epr
i
c
e
s
?
Ans
we
r
:Ther
e
as
onsi
nc
l
udebadwe
a
t
he
ri
nCol
ombi
a
,wa
ge
s
,andt
heac
t
i
onsofi
ndi
vi
dualfir
ms
.
Di
ff:
2 Pa
geRe
f
:
16
Topi
c
:Re
s
our
c
e
s
Le
ar
ni
ngOut
c
ome
:1
.
5De
finei
mpor
t
ante
c
onomi
ct
e
r
ms
.(
I
t
'
snotal
lGr
e
e
k.
)
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:AnI
ns
i
deLOOK:
Coffe
ePr
i
c
e
sSe
tt
oSoar
35
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1.6 Appendix A: Review the use of graphs and formulas
1)I
fagr
aphhasal
i
net
ha
ts
howst
heamountofout
s
our
c
i
ngi
nt
hel
as
tt
e
nye
ar
s
,i
ti
sknownas
A)api
ec
har
t
.
B)at
i
me
s
e
r
i
e
sgr
aph.
C)ade
mandc
ur
vef
orout
s
our
c
i
ng.
D)as
uppl
yc
ur
veofout
s
our
c
i
ng.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
24
Topi
c
:Gr
aphs
Le
ar
ni
ngOut
c
ome
:1
.
6Appe
ndi
xA:Re
vi
e
wt
heus
eofgr
aphsandf
or
mul
as
AACSB:Re
fle
c
t
i
veThi
nki
ng
2)________ha
veahor
i
z
ont
alandave
r
t
i
c
alaxi
sa
ndar
eus
e
di
ne
c
onomi
c
st
oi
l
l
us
t
r
a
t
er
e
l
a
t
i
ons
hi
ps
be
t
we
e
nt
woe
c
onomi
cvar
i
abl
e
s
.
A)Twodi
me
ns
i
onalgr
aphs
B)One
di
me
ns
i
onalgr
aphs
C)Pi
ec
har
t
s
D)Bargr
aphs
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
24
Topi
c
:Gr
aphs
Le
ar
ni
ngOut
c
ome
:1
.
6Appe
ndi
xA:Re
vi
e
wt
heus
eofgr
aphsandf
or
mul
as
AACSB:Re
fle
c
t
i
veThi
nki
ng
3)I
fas
t
r
a
i
ghtl
i
nepas
s
e
st
hr
ought
hepoi
ntx=14andy=3andal
s
ot
hr
ought
hepoi
ntx=4andy=10,
t
hes
l
opeoft
hi
sl
i
nei
s
A)ne
ga
t
i
ve11di
vi
de
dby6.
B)s
e
ve
nt
e
nt
hs
.
C)ne
ga
t
i
ves
e
ve
nt
e
nt
hs
.
D)6di
vi
de
dby11.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
25
Topi
c
:Sl
ope
Le
ar
ni
ngOut
c
ome
:1
.
6Appe
ndi
xA:Re
vi
e
wt
heus
eofgr
aphsandf
or
mul
as
AACSB:Anal
yt
i
cSki
l
l
s
4)Onat
wodi
me
ns
i
onalgr
aph,________al
l
owsf
ort
hee
ffe
c
t
sofaddi
t
i
onalvar
i
abl
e
s
.
A)movi
ngal
ongac
ur
ve
B)s
hi
f
t
i
ngc
ur
ve
s
C)e
l
i
mi
na
t
i
ngac
ur
ve
D)addi
nganaddi
t
i
onalc
ur
ve
Ans
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5)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
sf
a
l
s
e
?
A)Ani
nve
r
s
er
e
l
a
t
i
ons
hi
phasane
ga
t
i
ves
l
opeval
ue
.
B)Adi
r
e
c
tr
e
l
a
t
i
ons
hi
phasapos
i
t
i
ves
l
opeval
ue
.
C)Ac
ur
ve
dl
i
nehass
l
opeval
ue
st
ha
tc
hangea
te
ve
r
ypoi
nt
.
D)As
t
r
ai
ghtl
i
nehasas
l
opeofze
r
o.
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r
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Di
ff:
2 Pa
geRe
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:
26
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ar
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ome
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6)Ther
e
l
a
t
i
ons
hi
pbe
t
we
e
nc
ons
ume
rs
pe
ndi
nganddi
s
pos
abl
epe
r
s
onali
nc
omei
s
A)ani
nve
r
s
er
e
l
a
t
i
ons
hi
p.
B)adi
r
e
c
tr
e
l
a
t
i
ons
hi
p.
C)ane
ga
t
i
ver
e
l
a
t
i
ons
hi
p.
D)i
nde
pe
nde
nt
.
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7)Suppos
ewhe
nt
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c
eofl
apt
opsf
al
l
,uni
ve
r
s
i
t
ys
t
ude
nt
sbuymor
el
apt
ops
.Thi
si
mpl
i
e
st
ha
t
A)t
he
r
ei
sapos
i
t
i
ver
e
l
a
t
i
ons
hi
pbe
t
we
e
nl
apt
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c
e
sandquant
i
t
i
e
spur
c
has
e
dbyc
ol
l
e
ges
t
ude
nt
s
.
B)t
he
r
ei
sane
ga
t
i
ver
e
l
a
t
i
ons
hi
pbe
t
we
e
nl
a
pt
oppr
i
c
e
sandquant
i
t
i
e
spur
c
has
e
dbyc
ol
l
e
ges
t
ude
nt
s
.
C)t
he
r
ei
sadi
r
e
c
tr
e
l
a
t
i
ons
hi
pbe
t
we
e
nl
apt
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i
c
e
sandquant
i
t
i
e
spur
c
has
e
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l
e
ges
t
ude
nt
s
.
D)t
he
r
ei
saone
t
ooner
e
l
a
t
i
ons
hi
pbe
t
we
e
nl
a
pt
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ge
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ude
nt
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8)I
ft
hepr
i
c
eofmi
l
kwas$2.
50al
i
t
r
eandi
ti
snow $3.
25al
i
t
r
e
,wha
ti
st
hepe
r
c
e
nt
a
gec
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npr
i
c
e
?
A)13pe
r
c
e
nt
B)30pe
r
c
e
nt
C)75pe
r
c
e
nt
D)77pe
r
c
e
nt
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9)I
n2010,Hoove
r
vi
l
l
ec
ons
ume
d205,
000t
onne
sofs
ugar
.I
n2011,s
ugarc
ons
umpt
i
onr
os
et
o245,
000
t
onne
s
.Cal
c
ul
a
t
et
hepe
r
c
e
nt
a
gec
hangei
ns
ugarc
ons
umpt
i
on.
A)8.
37%
B)11.
95%
C)19.
51%
D)26.
33%
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ff:
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:
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mul
as
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e
c
e
ntf
ac
ul
t
yme
e
t
i
ng,Lor
r
ai
neWa
ve
r
l
y
,
pr
e
s
i
de
ntofSkywal
ke
rCol
l
e
ge
,announc
e
dt
ha
t
e
nr
ol
l
me
nti
supby12pe
r
c
e
ntove
rt
hepr
e
vi
ouss
e
me
s
t
e
r
.I
fe
nr
ol
l
me
ntt
hepr
e
vi
ouss
e
me
s
t
e
rwas3,
250
s
t
ude
nt
s
,wha
ti
st
hes
t
ude
nte
nr
ol
l
me
ntt
hi
ss
e
me
s
t
e
r
?
A)390
B)2,
860
C)3,
640
D)4,
030
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38
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Fi
gur
e1.
1
11)Re
f
e
rt
oFi
g
ur
e1.
1.Us
i
ngt
hei
nf
or
ma
t
i
oni
nt
hefigur
eabove
,c
al
c
ul
a
t
et
hepe
r
c
e
nt
a
gec
hangei
n
s
al
e
sofal
c
ohol
i
cbe
ve
r
a
ge
sbe
t
we
e
n2008and2011.
A)23.
1%
B)23.
8%
C)30%
D)42.
9%
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Di
ff:
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f
:
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as
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ar
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ome
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Fi
gur
e1.
2
12)Re
f
e
rt
oFi
g
ur
e1.
2.Cal
c
ul
a
t
et
hear
e
aoft
het
r
i
angl
eA.
A)$1.
3mi
l
l
i
on
B)$2.
6mi
l
l
i
on
C)$3.
4mi
l
l
i
on
D)$5.
2mi
l
l
i
on
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we
r
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Di
ff:
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geRe
f
:
30
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c
:For
mul
as
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ar
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ome
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.
6Appe
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vi
e
wt
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eofgr
aphsandf
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as
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s
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Fi
gur
e1.
3
13)Re
f
e
rt
oFi
g
ur
e1.
3.Cal
c
ul
a
t
et
hear
e
aoft
het
r
ape
z
oi
dX.
A)$270
B)$720
C)$810
D)$2,
520
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r
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Di
ff:
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geRe
f
:
31
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as
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ome
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gur
e1.
4
14)Re
f
e
rt
oFi
g
ur
e14.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
sf
a
l
s
e
?
A)Thes
l
opeoft
het
ange
nta
tEi
spos
i
t
i
ve
.
B)Thes
l
opeoft
het
ange
nta
tFi
sne
ga
t
i
ve
.
C)Thes
l
opeoft
het
ange
nta
tEandt
hes
l
opeoft
het
ange
nta
tFar
ee
qual
.
D)Ne
i
t
he
rt
hes
l
opeoft
het
ange
nta
tEnort
hes
l
opeoft
het
ange
nta
tFar
ee
qualt
oze
r
o.
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r
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ff:
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:
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ar
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ngOut
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ome
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ndi
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e
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15)Wha
ti
st
he"
omi
t
t
e
dvar
i
abl
e
"pr
obl
e
mi
nde
t
e
r
mi
ni
ngc
aus
eande
ffe
c
t
?
A)I
ti
sapr
obl
e
mt
ha
tar
i
s
e
swhe
nani
ns
i
gni
fic
antvar
i
abl
ei
sgi
ve
nt
oomuc
hwe
i
ghti
nane
c
onomi
c
41
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anal
ys
i
sl
e
adi
ngt
os
ke
we
dc
onc
l
us
i
onsaboutc
aus
eande
ffe
c
t
.
B)I
ti
sapr
obl
e
mt
ha
tar
i
s
e
swhe
nas
i
gni
fic
antva
r
i
abl
ei
snotgi
ve
ne
noughwe
i
ghti
nane
c
onomi
c
e
xpe
r
i
me
ntl
e
adi
ngt
os
ke
we
dc
onc
l
us
i
onsaboutc
aus
eande
ffe
c
t
.
C)I
ti
sapr
obl
e
mt
ha
tar
i
s
e
swhe
nani
ns
i
gni
fic
ante
c
onomi
cvar
i
abl
et
ha
ts
houl
dha
vebe
e
nomi
t
t
e
di
s
i
nc
l
ude
di
nane
c
onomi
ce
xpe
r
i
me
ntl
e
adi
ngt
of
al
s
ec
onc
l
us
i
onsaboutc
aus
eande
ffe
c
t
.
D)I
ti
sapr
obl
e
mt
ha
tar
i
s
e
swhe
nane
c
onomi
cvar
i
abl
et
ha
taffe
c
t
sot
he
rvar
i
abl
e
si
somi
t
t
e
df
r
om a
n
anal
ys
i
sandi
t
somi
s
s
i
onl
e
adst
of
al
s
ec
onc
l
us
i
onsaboutc
aus
eande
ffe
c
t
.
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16)________i
sapr
obl
e
mt
ha
toc
c
ur
swhe
nonec
onc
l
ude
st
ha
tac
hangei
nvar
i
abl
eXc
aus
e
dac
hangei
n
var
i
abl
eYwhe
ni
na
c
t
ualf
ac
t
,i
ti
sac
hangei
nvar
i
abl
eYt
ha
tc
aus
e
dac
hangei
nvar
i
abl
eX.
A)Theomi
t
t
e
dvar
i
abl
e
B)Thepos
i
t
i
ve
t
one
ga
t
i
ver
e
l
a
t
i
ons
hi
p
C)Re
ve
r
s
ec
aus
al
i
t
y
D)Nonl
i
ne
ars
l
ope
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ng
17)Thepr
e
val
e
nc
eofAl
zhe
i
me
r
'
sde
me
nt
i
ai
sve
r
yhi
ghamongr
e
s
i
de
nt
sl
i
vi
ngi
nnur
s
i
nghome
s
.A
s
t
ude
ntc
onc
l
ude
st
ha
ti
ti
sl
i
ke
l
yt
ha
tl
i
vi
ngi
nnur
s
i
nghomec
aus
e
sAl
zhe
i
me
r
'
sde
me
nt
i
a
.Wha
ti
st
he
fla
wi
nt
hes
t
ude
nt
'
sr
e
as
oni
ng?
A)Thes
t
ude
nthasf
ai
l
e
dt
ot
akei
nt
oac
c
ountot
he
rc
aus
e
sofAl
zhe
i
me
r
'
sdi
s
e
as
e
.
B)Thes
t
ude
nti
sdr
a
wi
ngaf
al
s
ec
onc
l
us
i
on;hei
sc
onf
us
i
ngc
aus
eande
ffe
c
t
.
C)Thes
t
ude
nti
sus
i
ngani
nade
qua
t
es
ampl
es
i
ze
.
D)Thes
t
ude
nti
sdr
a
wi
ngaf
al
s
ec
onc
l
us
i
onbymaki
ngt
hemi
s
t
akeofomi
t
t
i
ngc
r
i
t
i
c
alvar
i
abl
e
ss
uc
has
t
hea
geandge
nde
roft
her
e
s
i
de
nt
s
.
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r
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42
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18)Youe
xpl
ai
nt
oyourr
oomma
t
eSur
ya
,whomake
sbe
ade
dhe
adbands
,aboutane
c
onomi
ct
he
or
y
whi
c
has
s
e
r
t
st
ha
tc
ons
ume
r
swi
l
lpur
c
has
emor
eofapr
oduc
ta
tl
owe
rpr
i
c
e
st
hant
he
ywi
l
la
thi
ghe
r
pr
i
c
e
s
.Shec
ont
e
ndst
ha
tt
het
he
or
yi
si
nc
or
r
e
c
tbe
c
aus
eove
rt
hepas
tt
woye
ar
ss
hehasl
owe
r
e
dt
he
pr
i
c
eofhe
rhe
adbandsandye
thass
e
e
nade
c
r
e
as
ei
ns
al
e
s
.How woul
dyour
e
s
pondt
oSur
ya?
A)Sur
yai
sr
i
ght
;s
hehase
vi
de
nc
et
obac
khe
rc
l
ai
m.Thet
he
or
ymus
tbee
r
r
one
ous
.
B)Sur
yai
smaki
ngt
hemi
s
t
akeofas
s
umi
ngt
ha
tc
or
r
e
l
a
t
i
oni
mpl
i
e
sc
aus
a
t
i
on.
C)Iwi
l
le
xpl
ai
nt
ohe
rt
ha
ts
hei
smaki
ngt
hee
r
r
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43
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Chapter 2 - TEST BANK
Introductory Macroeconomics SFW (University of Guelph)
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Macroeconomics, Second Canadian Edition (Hubbard)
Chapter 2 Trade-offs, Comparative Advantage, and the Market System
2.1 Use a production possibilities frontier to analyze opportunity costs and trade-offs
1)Sc
a
r
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i
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om t
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me
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i
onvar
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pe
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4)Thepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
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ombi
na
t
i
onsoft
wopr
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t
st
ha
tma
ybe
pr
oduc
e
di
napar
t
i
c
ul
art
i
mepe
r
i
odwi
t
ha
vai
l
abl
er
e
s
our
c
e
s
.
A)mi
ni
mum a
t
t
ai
nabl
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mum a
t
t
ai
nabl
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qui
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rmode
ls
howst
ha
t
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ons
ume
r
sde
c
i
det
obuymor
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spr
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c
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li
nc
r
e
as
e
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te
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smor
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ffic
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nti
npr
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vi
c
e
st
hani
sac
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e
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sf
r
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rmode
las
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ume
swhi
c
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,c
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al
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andandna
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t
e
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nquant
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s
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ve
loft
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wopr
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st
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tt
hee
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e
si
sc
ur
r
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nt
l
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s
i
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ve
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t
ai
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t
i
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sonapr
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ur
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sout
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i
det
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ae
nc
l
os
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dbyt
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s
i
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sf
r
ont
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r
.
D)t
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sal
ongandi
ns
i
det
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i
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l
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t
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ont
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8)Thepoi
nt
sout
s
i
det
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s
i
bi
l
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i
e
sf
r
ont
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e
rar
e
A)e
ffic
i
e
nt
.
B)a
t
t
ai
nabl
e
.
C)i
ne
ffic
i
e
nt
.
D)una
t
t
ai
nabl
e
.
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A)t
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c
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c
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l
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ffic
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e
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.
B)una
t
t
ai
nabl
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hc
ur
r
e
ntr
e
s
our
c
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.
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ne
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nti
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ha
tnotal
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our
c
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sar
ebe
i
ngus
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l
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um out
putc
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A)t
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c
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c
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l
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B)una
t
t
ai
nabl
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ur
r
e
ntr
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s
our
c
e
s
.
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ne
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nti
nt
ha
tnotal
lr
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s
our
c
e
sar
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i
ngus
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d.
D)t
hee
qui
l
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br
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um out
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i
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11)Re
f
e
rt
oFi
g
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e2.
1.Poi
ntCi
s
A)t
e
c
hni
c
al
l
ye
ffic
i
e
nt
.
B)una
t
t
ai
nabl
ewi
t
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ur
r
e
ntr
e
s
our
c
e
s
.
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ne
ffic
i
e
nti
nt
ha
tnotal
lr
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s
our
c
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sar
ebe
i
ngus
e
d.
D)i
st
hee
qui
l
i
br
i
um out
putc
ombi
na
t
i
on.
Ans
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r
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ff:
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f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
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ar
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ome
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.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
12)Re
f
e
rt
oFi
g
ur
e2.
1.Atpoi
ntAt
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ngmor
eSUVsi
s
A)0r
oads
t
e
r
s
.
B)0SUVs
.
C)2.
5r
oads
t
e
r
spe
rSUV.
D)i
mpos
s
i
bl
et
ode
t
e
r
mi
ne
.
Ans
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r
:A
Di
ff:
2 Pa
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f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
13)I
napr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rmode
l
,apoi
nt________t
hef
r
ont
i
e
ri
spr
oduc
t
i
ve
l
yi
ne
ffic
i
e
nt
.
A)al
ong
B)i
ns
i
de
C)out
s
i
de
D)a
te
i
t
he
ri
nt
e
r
c
e
ptof
Ans
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Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
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ome
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eapr
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t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
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ng
14)Be
l
l
ac
anpr
oduc
ee
i
t
he
rac
ombi
na
t
i
onof60s
i
l
kr
os
e
sand80s
i
l
kl
e
a
ve
sorac
ombi
na
t
i
onof70s
i
l
k
r
os
e
sand55s
i
l
kl
e
a
ve
s
.I
fs
henow pr
oduc
e
s60s
i
l
kr
os
e
sand80s
i
l
kl
e
a
ve
s
,wha
ti
st
heoppor
t
uni
t
yc
os
t
ofpr
oduc
i
nganaddi
t
i
onal10s
i
l
kr
os
e
s
?
A)2.
5s
i
l
kl
e
a
ve
s
B)10s
i
l
kl
e
a
ve
s
C)25s
i
l
kl
e
a
ve
s
D)55s
i
l
kl
e
a
ve
s
Ans
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Di
ff:
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f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
4
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15)I
ft
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
s___
_____,t
he
noppor
t
uni
t
yc
os
t
sar
ec
ons
t
antasmor
eof
onegoodi
spr
oduc
e
d.
A)bowe
dout
B)bowe
di
n
C)nonl
i
ne
ar
D)l
i
ne
ar
Ans
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r
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Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
Fi
gur
e2.
2
Fi
gur
e2.
2aboves
howst
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rf
orAt
i
kame
kw Cr
e
e(
c
a
.1600)wi
t
ha
hi
s
t
or
i
c
alt
r
adi
t
i
onoffis
hi
ngandf
a
r
mi
ng.As
s
umet
he
ypr
oduc
et
wogoods
:fis
handgr
ai
ns
.
16)Re
f
e
rt
oFi
g
ur
e2.
2.Wha
ti
st
heoppor
t
uni
t
yc
os
tofoneki
l
ogr
am ofgr
ai
n?
l
ogr
amsoffis
h
A) ki
B)1.
2ki
l
ogr
amsoffis
h
C)
ki
l
ogr
amsoffis
h
D)12ki
l
ogr
amsoffis
h
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
38
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
5
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17)Re
f
e
rt
oFi
g
ur
e2.
2.Wha
ti
st
heoppor
t
uni
t
yc
os
tofoneki
l
ogr
am ofFi
s
h?
A) ki
l
ogr
am ofgr
ai
n
B)
ki
l
ogr
amsofgr
ai
n
C)1.
6ki
l
ogr
amsofgr
ai
n
D)16ki
l
ogr
amsofgr
ai
n
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
38
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
18)Re
f
e
rt
oFi
g
ur
e2.
2.Suppos
eAt
i
kame
kw Cr
e
ear
ec
ur
r
e
nt
l
ypr
oduc
i
ng60ki
l
ogr
amsofgr
ai
npe
r
pe
r
i
od.How muc
hfis
hi
si
tal
s
opr
oduc
i
ng,as
s
umi
ngt
ha
tr
e
s
our
c
e
sar
ef
ul
l
yut
i
l
i
ze
d?
A)45ki
l
ogr
amsoffis
h
B)75ki
l
ogr
amsoffis
h
C)80ki
l
ogr
amsoffis
h
D)100ki
l
ogr
amsoffis
h
Ans
we
r
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Di
ff:
2 Pa
geRe
f
:
38
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
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t
i
onpos
s
i
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l
i
t
i
e
sf
r
ont
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e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
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ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
19)Re
f
e
rt
oFi
g
ur
e2.
2.Thel
i
ne
arpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
nt
hefigur
ei
ndi
c
a
t
e
st
ha
t
A)At
i
kame
kw Cr
e
eha
veac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofve
ge
t
abl
e
s
.
B)At
i
kame
kw Cr
e
eha
veac
ompar
a
t
i
vedi
s
advant
a
gei
nt
hepr
oduc
t
i
onofme
a
t
.
C)t
het
r
ade
offbe
t
we
e
npr
oduc
i
ngfis
handgr
ai
ni
sc
ons
t
ant
.
D)i
ti
spr
ogr
e
s
s
i
ve
l
ymor
ee
xpe
ns
i
vet
opr
oduc
efis
h.
Ans
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r
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Di
ff:
2 Pa
geRe
f
:
38
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
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oduc
t
i
onpos
s
i
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l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
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i
cSki
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l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
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onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
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20)Apr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwi
t
habowe
dout
war
ds
hapei
ndi
c
a
t
e
s
A)t
hepos
s
i
bi
l
i
t
yofi
ne
ffic
i
e
ntpr
oduc
t
i
on.
B)c
ons
t
antoppor
t
uni
t
yc
os
t
sasmor
eandmor
eofonegoodi
spr
oduc
e
d.
C)i
nc
r
e
as
i
ngoppor
t
uni
t
yc
os
t
sasmor
eandmor
eofonegoodi
spr
oduc
e
d.
D)de
c
r
e
as
i
ngoppor
t
uni
t
yc
os
t
sasmor
eandmor
eofonegoodi
spr
oduc
e
d.
Ans
we
r
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Di
ff:
2 Pa
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f
:
41
Topi
c
:Oppor
t
uni
t
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t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
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oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
21)I
nc
r
e
as
i
ngoppor
t
uni
t
yc
os
ti
sr
e
pr
e
s
e
nt
e
dbya________pr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
A)l
i
ne
ar
B)c
onve
x
C)c
onc
a
ve
D)ve
r
t
i
c
al
6
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Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
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oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
22)Thes
l
opeofapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
A)hasnoe
c
onomi
cr
e
l
e
vanc
eorme
ani
ng.
B)i
sal
wa
ysc
ons
t
ant
.
C)i
sal
wa
ysvar
yi
ng.
D)me
as
ur
e
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ngonemor
euni
tofagood.
Ans
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r
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Di
ff:
1 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
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oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
23)________oppor
t
uni
t
yc
os
ti
mpl
i
e
st
ha
tasmor
er
e
s
our
c
e
sar
eappl
i
e
dt
opr
oduc
i
ngonegood,t
ha
t
pr
oduc
t
i
oni
nc
r
e
as
e
sbys
mal
l
e
rands
mal
l
e
ramount
s
.
A)I
nc
r
e
as
i
ng
B)De
c
r
e
as
i
ng
C)Cons
t
ant
D)Ne
ga
t
i
ve
Ans
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r
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Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
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t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
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t
i
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s
i
bi
l
i
t
i
e
sf
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ont
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e
rt
oanal
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t
uni
t
yc
os
t
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ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
24)I
foppor
t
uni
t
yc
os
t
sar
ec
ons
t
ant
,t
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwoul
dbegr
aphe
das
A)ar
a
yf
r
om t
heor
i
gi
n.
B)apos
i
t
i
ve
l
ys
l
ope
ds
t
r
ai
ghtl
i
ne
.
C)ane
ga
t
i
ve
l
ys
l
ope
dc
ur
vebowe
di
nt
owar
dt
heor
i
gi
n.
D)ane
ga
t
i
ve
l
ys
l
ope
ds
t
r
ai
ghtl
i
ne
.
Ans
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r
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Di
ff:
1 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
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t
Le
ar
ni
ngOut
c
ome
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.
1Us
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t
i
onpos
s
i
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l
i
t
i
e
sf
r
ont
i
e
rt
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yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
7
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Fi
gur
e2.
3
25)Re
f
e
rt
oFi
g
ur
e2.
3.Se
r
gi
oVi
gne
t
t
or
ai
s
e
sc
a
t
t
l
eandl
l
amasonhi
sl
a
nd.Hi
sl
andi
se
qual
l
ys
ui
t
abl
e
f
orr
ai
s
i
nge
i
t
he
rani
mal
.Whi
c
hoft
hegr
aphsi
nFi
gur
e2.
3r
e
pr
e
s
e
nthi
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
s
f
r
ont
i
e
r
?
A)Gr
aphA
B)Gr
aphB
C)Gr
aphC
D)e
i
t
he
rGr
aphAorGr
aphC
E)e
i
t
he
rGr
aphBorGr
aphC
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
26)Re
f
e
rt
oFi
g
ur
e2.
3.Se
r
gi
oVi
gne
t
t
or
ai
s
e
sc
a
t
t
l
eandl
l
amasonhi
sl
and.Hal
ft
hel
andi
smor
e
s
ui
t
abl
ef
orr
ai
s
i
ngc
a
t
t
l
eandhal
ft
hel
andi
sbe
t
t
e
rs
ui
t
e
df
orr
ai
s
i
ngl
l
amas
.Whi
c
hoft
hegr
aphsi
n
Fi
gur
e2.
3r
e
pr
e
s
e
nthi
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
?
A)Gr
aphA
B)Gr
aphB
C)Gr
aphC
D)e
i
t
he
rGr
aphAorGr
aphC
E)e
i
t
he
rGr
aphBorGr
aphC
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
8
Copyright © 2018 Pearson Canada, Inc.
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Tabl
e2.
1
Pr
oduc
t
i
onc
hoi
c
e
sf
orTomas
o'
sTr
a
t
t
or
i
a
Quant
i
t
yof Quant
i
t
yof
Pi
zzas
Ca
l
zones
Choi
c
e
Pr
oduc
ed
Pr
oduc
ed
A
48
0
B
36
15
C
24
30
D
12
45
E
0
60
27)Re
f
e
rt
oTabl
e2.
1.As
s
umeTomas
o'
sTr
a
t
t
or
i
aonl
ypr
oduc
e
spi
zzasandc
al
z
one
s
.Ac
ombi
na
t
i
onof
24pi
zzasand30c
al
z
one
swoul
dappe
ar
A)al
ongTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
B)i
ns
i
deTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
C)out
s
i
deTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)a
tt
hehor
i
z
ont
ali
nt
e
r
c
e
ptofTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
28)Re
f
e
rt
oTabl
e2.
1.As
s
umeTomas
o'
sTr
a
t
t
or
i
aonl
ypr
oduc
e
spi
zzasandc
al
z
one
s
.Ac
ombi
na
t
i
onof
36pi
zzasand30c
al
z
one
swoul
dappe
ar
A)al
ongTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
B)i
ns
i
deTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
C)out
s
i
deTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)a
tt
hehor
i
z
ont
ali
nt
e
r
c
e
ptofTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
29)Re
f
e
rt
oTabl
e2.
1.As
s
umeTomas
o'
sTr
a
t
t
or
i
aonl
ypr
oduc
e
spi
zzasandc
al
z
one
s
.Ac
ombi
na
t
i
onof
24pi
zzasand15c
al
z
one
swoul
dappe
ar
A)al
ongTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
B)i
ns
i
deTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
C)out
s
i
deTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)a
tt
hehor
i
z
ont
ali
nt
e
r
c
e
ptofTomas
o'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
9
Copyright © 2018 Pearson Canada, Inc.
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30)Re
f
e
rt
oTabl
e2.
1.As
s
umeTomas
o'
sTr
a
t
t
or
i
aonl
ypr
oduc
e
spi
zzasandc
al
z
one
s
.Tomas
of
ac
e
s
________oppor
t
uni
t
yc
os
t
si
nt
hepr
oduc
t
i
onofpi
zzasandc
al
z
one
s
.
A)i
nc
r
e
as
i
ng
B)de
c
r
e
as
i
ng
C)c
ons
t
ant
D)ne
ga
t
i
ve
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
31)Ani
nwar
ds
hi
f
tofana
t
i
on'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rc
anoc
c
urduet
o
A)ar
e
duc
t
i
oni
nune
mpl
oyme
nt
.
B)ana
t
ur
aldi
s
as
t
e
rl
i
keahur
r
i
c
aneorbade
ar
t
hquake
.
C)ac
hangei
nt
heamount
sofonegoodde
s
i
r
e
d.
D)ani
nc
r
e
as
ei
nt
hel
abourf
or
c
e
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
32)Anout
war
ds
hi
f
tofana
t
i
on'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rr
e
pr
e
s
e
nt
s
A)e
c
onomi
cgr
owt
h.
B)r
i
s
i
ngpr
i
c
e
soft
het
wogoodsont
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rmode
l
.
C)ani
mpos
s
i
bl
es
i
t
ua
t
i
on.
D)as
i
t
ua
t
i
oni
nwhi
c
hac
ount
r
ypr
oduc
e
smor
eofonegoodandl
e
s
sofanot
he
r
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
33)Ec
onomi
cde
c
l
i
ne(
ne
ga
t
i
vegr
owt
h)i
sr
e
pr
e
s
e
nt
e
donapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rmode
lby
t
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
yf
r
ont
i
e
r
A)s
hi
f
t
i
ngout
war
d.
B)s
hi
f
t
i
ngi
nwar
d.
C)be
c
omi
ngs
t
e
e
pe
r
.
D)be
c
omi
ngfla
t
t
e
r
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
10
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34)Wi
t
houtani
nc
r
e
as
ei
nt
hes
uppl
i
e
soff
ac
t
or
sofpr
oduc
t
i
on,how c
anana
t
i
onac
hi
e
vee
c
onomi
c
gr
owt
h?
A)bypr
oduc
i
ngmor
ehi
ghval
uegoodsandl
e
s
sofl
owval
uegoods
B)t
hr
ought
e
c
hnol
ogi
c
aladvanc
e
me
ntwhi
c
he
nabl
e
smor
eout
putwi
t
ht
hes
amequant
i
t
yofr
e
s
our
c
e
s
C)byl
owe
r
i
ngt
hepr
i
c
e
soff
a
c
t
or
sofpr
oduc
t
i
on
D)byi
nc
r
e
as
i
ngt
hepr
i
c
e
soff
a
c
t
or
sofpr
oduc
t
i
on
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
35)Whi
c
hoft
hef
ol
l
owi
ngwoul
ds
hi
f
tana
t
i
on'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rout
war
d?
A)de
ve
l
opi
ngs
ol
a
rpowe
rt
ha
ti
smor
ee
ffic
i
e
ntt
hanal
lot
he
rme
t
hodsofge
ne
r
a
t
i
nge
l
e
c
t
r
i
c
i
t
y
.
B)ani
nc
r
e
as
ei
nde
mandf
ort
hena
t
i
on'
spr
oduc
t
s
C)ade
c
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
e
D)al
a
wr
e
qui
r
i
ngwor
ke
r
st
or
e
t
i
r
ea
ta
ge50
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
11
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Fi
gur
e2.
4
Fi
gur
e2.
4s
howsvar
i
ouspoi
nt
sont
hr
e
edi
ffe
r
e
ntpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
sf
orana
t
i
on.
36)Re
f
e
rt
oFi
g
ur
e2.
4.Amove
me
ntf
r
om Xt
oY
A)c
oul
dbeduet
oac
hangei
nc
ons
ume
r
s
'
t
as
t
e
sandpr
e
f
e
r
e
nc
e
s
.
B)c
oul
doc
c
urbe
c
aus
eofani
nfluxofi
mmi
gr
antl
abour
.
C)i
st
her
e
s
ul
tofadvanc
e
me
nt
si
nf
oodpr
oduc
t
i
ont
e
c
hnol
ogyonl
y
,wi
t
hnoc
hangei
nt
het
e
c
hnol
ogy
f
orpl
as
t
i
cpr
oduc
t
i
on.
D)i
st
her
e
s
ul
tofadvanc
e
me
nt
si
npl
as
t
i
cpr
oduc
t
i
ont
e
c
hnol
ogyonl
y
,wi
t
hnoc
hangei
nf
ood
pr
oduc
t
i
ont
e
c
hnol
ogy
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
37)Re
f
e
rt
oFi
g
ur
e2.
4.Amove
me
ntf
r
om Yt
oZ
A)r
e
pr
e
s
e
nt
sani
nc
r
e
as
ei
nt
hede
mandf
orpl
as
t
i
cpr
oduc
t
s
.
B)c
oul
doc
c
urbe
c
aus
eofge
ne
r
alt
e
c
hnol
ogi
c
aladvanc
e
me
nt
s
.
C)i
st
her
e
s
ul
tofadvanc
e
me
nt
si
nf
oodpr
oduc
t
i
ont
e
c
hnol
ogy
.
D)i
st
her
e
s
ul
tofadvanc
e
me
nt
si
npl
as
t
i
cpr
oduc
t
i
ont
e
c
hnol
ogy
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
12
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38)Re
f
e
rt
oFi
g
ur
e2.
4.Cons
i
de
rt
hef
ol
l
owi
nge
ve
nt
s
:
a
. ani
nc
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
e
b. ade
c
r
e
as
ei
nana
t
i
on'
smone
ys
uppl
y
c
. awart
ha
tki
l
l
sas
i
gni
fic
antpor
t
i
onofana
t
i
on'
spopul
a
t
i
on
Whi
c
hoft
hee
ve
nt
sl
i
s
t
e
dabovec
oul
dc
aus
eamove
me
ntf
r
om Yt
oW ?
A)a
,bandc
B)aandbonl
y
C)aandconl
y
D)aonl
y
E)conl
y
Ans
we
r
:E
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
39)Re
f
e
rt
oFi
g
ur
e2.
4.Cons
i
de
rt
hef
ol
l
owi
ngmove
me
nt
s
:
a
.f
r
om poi
ntVt
opoi
ntW
b. f
r
om poi
ntW t
opoi
ntY
c
.f
r
om poi
ntYt
opoi
ntZ
Whi
c
hoft
hemove
me
nt
sl
i
s
t
e
dabover
e
pr
e
s
e
nt
se
c
onomi
cgr
owt
h?
A)a
,b
,andc
B)bandconl
y
C)aonl
y
D)bonl
y
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
40)Re
f
e
rt
oFi
g
ur
e2.
4.Cons
i
de
rt
hef
ol
l
owi
nge
ve
nt
s
:
a
. ade
c
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
e
b. ge
ne
r
alt
e
c
hnol
ogi
c
aladvanc
e
me
nt
c
. ani
nc
r
e
as
ei
nc
ons
ume
rwe
al
t
h
Whi
c
hoft
hee
ve
nt
sl
i
s
t
e
dabovec
oul
dc
aus
eamove
me
ntf
r
om Vt
oW ?
A)aonl
y
B)aandbonl
y
C)bandconl
y
D)a
,b
,andc
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
13
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41)Re
f
e
rt
oFi
g
ur
e2.
4.Cons
i
de
rt
hef
ol
l
owi
nge
ve
nt
s
:
a
. ar
e
duc
t
i
oni
nt
hepa
t
e
ntpr
ot
e
c
t
i
onpe
r
i
odt
onomor
et
han2ye
ar
s
b. awart
ha
tde
s
t
r
oysas
ubs
t
ant
i
alpor
t
i
onofana
t
i
on'
sc
api
t
als
t
oc
k
c
.t
hel
ac
kofs
e
c
ur
eande
nf
or
c
e
abl
epr
ope
r
t
yr
i
ght
ss
ys
t
e
m
Whi
c
hoft
hee
ve
nt
sl
i
s
t
e
dabovec
oul
dc
aus
eamove
me
ntf
r
om W t
oV?
A)aonl
y
B)aandbonl
y
C)aandconl
y
D)bandconl
y
E)a
,b
,andc
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
42)TheGr
e
a
tDe
pr
e
s
s
i
onoft
he1930swi
t
hal
ar
genumbe
rofwor
ke
r
sandf
ac
t
or
i
e
sune
mpl
oye
dwoul
d
ber
e
pr
e
s
e
nt
e
di
napr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rgr
aphby
A)apoi
nti
ns
i
det
hef
r
ont
i
e
r
.
B)apoi
ntout
s
i
det
hef
r
ont
i
e
r
.
C)apoi
ntont
hef
r
ont
i
e
r
.
D)ani
nt
e
r
c
e
ptone
i
t
he
rt
heve
r
t
i
c
alort
hehor
i
z
ont
alaxi
s
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
43)Suppos
et
he
r
ei
snoune
mpl
oyme
nti
nt
hee
c
onomyands
oc
i
e
t
yde
c
i
de
st
ha
ti
twant
smor
eofone
good.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)I
tc
anonl
yac
hi
e
vet
hi
swi
t
hanadvanc
ei
nt
e
c
hnol
ogy
.
B)I
tc
ani
nc
r
e
as
eout
putwi
t
houtgi
vi
ngupanot
he
rgood.
C)I
tc
anonl
yac
hi
e
vet
hi
swi
t
hani
nc
r
e
as
ei
nr
e
s
our
c
es
uppl
i
e
s
.
D)I
twi
l
lha
vet
ogi
veuppr
oduc
t
i
onandc
ons
umpt
i
onofs
omeot
he
rgood.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
14
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44)I
fs
oc
i
e
t
yde
c
i
de
si
twant
smor
eofonegoodandal
lr
e
s
our
c
e
sar
ef
ul
l
yut
i
l
i
ze
d,t
he
n
A)i
ti
sunabl
et
odot
hi
sunl
e
s
st
e
c
hnol
ogyadvanc
e
s
.
B)addi
t
i
onalr
e
s
our
c
es
uppl
i
e
swi
l
lha
vet
obef
ound.
C)i
thast
ogi
veups
omeofanot
he
rgoodandi
nc
urs
omeoppor
t
uni
t
yc
os
t
s
.
D)mor
eune
mpl
oyme
ntwi
l
loc
c
ur
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
45)Ac
c
or
di
ngt
ot
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
ymode
l
,i
fmor
er
e
s
our
c
e
sar
eal
l
oc
a
t
e
dt
ot
hepr
oduc
t
i
onof
phys
i
c
alandhumanc
api
t
al
,t
he
nwhi
c
hoft
hef
ol
l
owi
ngi
sl
i
ke
l
yt
ohappe
n?
A)Fe
we
rgoodswi
l
lbepr
oduc
e
df
orc
ons
umpt
i
ont
oda
y
.
B)Thepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwi
l
lbes
hi
f
ti
nwar
di
nt
hef
ut
ur
e
.
C)Fut
ur
ee
c
onomi
cgr
owt
hwi
l
lde
c
l
i
ne
.
D)Thec
ount
r
y'
st
ot
alpr
oduc
t
i
onwi
l
lf
al
l
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Fi
gur
e2.
5
46)Re
f
e
rt
oFi
g
ur
e2.
5.I
ft
hee
c
onomyi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntY,wha
ti
st
heoppor
t
uni
t
yc
os
tof
movi
ngt
opoi
ntW?
A)2mi
l
l
i
ont
onsofs
t
e
e
l
B)z
e
r
o
C)9mi
l
l
i
ont
onsofpape
r
D)16mi
l
l
i
ont
onsofpape
r
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4041
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
47)Re
f
e
rt
oFi
g
ur
e2.
5.I
ft
hee
c
onomyi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntW,wha
ti
st
heoppor
t
uni
t
yc
os
tof
movi
ngt
opoi
ntX?
A)3mi
l
l
i
ont
onsofs
t
e
e
l
15
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B)19mi
l
l
i
ont
onsofs
t
e
e
l
C)5mi
l
l
i
ont
onsofpape
r
D)9mi
l
l
i
ont
onsofpape
r
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
4041
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
48)Re
f
e
rt
oFi
g
ur
e2.
5.I
ft
hi
se
c
onomyi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntX,wha
ti
st
heoppor
t
uni
t
yc
os
tof
movi
ngt
opoi
ntW?
A)3mi
l
l
i
ont
onsofs
t
e
e
l
B)5t
onsofpape
r
C)7t
onsofpape
r
D)19t
onsofs
t
e
e
l
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4041
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
49)Re
f
e
rt
oFi
g
ur
e2.
5.I
ft
hi
se
c
onomyi
sc
ur
r
e
nt
l
yc
ons
i
de
r
i
ngs
wi
t
c
hi
ngf
r
om poi
ntXt
opoi
ntW,wha
t
i
st
heoppor
t
uni
t
yc
os
tofe
ac
hne
wl
ypr
oduc
e
dt
onofpape
r
?
A)0.
6t
onsofs
t
e
e
l
B)3t
onsofs
t
e
e
l
C)1.
67t
onsofpape
r
D)5t
onsofpape
r
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
4041
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
16
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50)Aspr
ovi
nc
i
algove
r
nme
nt
sac
r
os
sCanadaf
ac
egr
owi
ngbudge
tde
fic
i
t
ss
omeanal
ys
t
sc
aut
i
ont
ha
t
r
i
s
i
nghe
al
t
hc
ar
es
pe
ndi
ngc
oul
dl
e
adt
or
e
duc
e
df
undi
ngf
oruni
ve
r
s
i
t
i
e
sandc
ol
l
e
ge
s
.Thi
ss
t
a
t
e
me
nt
s
ugge
s
t
st
ha
t
A)Canadi
angove
r
nme
nt
sne
ve
rr
e
al
l
ys
uppor
t
e
dpos
ts
e
c
ondar
ye
duc
a
t
i
on.
B)t
he
r
ei
sat
r
ade
offbe
t
we
e
nhe
al
t
hc
ar
es
pe
ndi
ngande
duc
a
t
i
ons
pe
ndi
ng.
C)s
oc
i
e
t
ys
houl
dval
uee
duc
a
t
i
ons
pe
ndi
ngmor
ehi
ghl
yt
hanhe
al
t
hc
ar
es
pe
ndi
ng.
D)s
oc
i
e
t
ys
houl
dval
uehe
al
t
hc
ar
es
pe
ndi
ngmor
ehi
ghl
yt
hanhe
al
t
hc
ar
ebe
c
aus
eoft
hel
ongt
e
r
m
e
c
onomi
cbe
ne
fit
sge
ne
r
a
t
e
dbyahe
al
t
hi
e
rpopul
a
t
i
on.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
51)Suppos
eyoure
xpe
ns
e
sf
ort
hi
st
e
r
m ar
easf
ol
l
ows
:t
ui
t
i
on:$7,
000,r
oom andboar
d:$8,
500,books
andot
he
re
duc
a
t
i
onals
uppl
i
e
s
:$2,
500.Fur
t
he
r
,dur
i
ngt
het
e
r
m,youc
anonl
ywor
kpar
t
t
i
meande
ar
n
$5,
500i
ns
t
e
adofyourf
ul
l
t
i
mes
al
ar
yof$20,
000.Wha
ti
st
heoppor
t
uni
t
yc
os
tofgoi
ngt
oc
ol
l
e
get
hi
s
t
e
r
m,as
s
umi
ngt
ha
tyourr
oom andboar
de
xpe
ns
e
swoul
dbet
hes
amee
ve
ni
fyoudi
dnotgot
oc
ol
l
e
ge
?
A)$7,
000
B)$9,
500
C)$24,
000
D)$38,
000
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
52)Theoppor
t
uni
t
yc
os
toft
aki
ngas
e
me
s
t
e
r
l
onge
c
onomi
c
sc
l
as
si
s
A)t
hec
os
toft
ui
t
i
onandf
e
e
sonl
y
.
B)t
heval
ueoft
het
i
mes
pe
nti
nt
hec
l
as
s
r
oom.
C)z
e
r
obe
c
aus
et
he
r
ei
snoadmi
s
s
i
onc
har
ge
di
fyouar
ee
nr
ol
l
e
di
nt
hec
our
s
e
.
D)e
qualt
ot
hehi
ghe
s
tval
ueofanal
t
e
r
na
t
i
veus
eoft
het
i
meandmone
ys
pe
ntont
hec
l
as
s
.
E)t
heknowl
e
dgeande
nj
oyme
ntyour
e
c
e
i
vef
r
om a
t
t
e
ndi
ngt
hec
l
as
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
17
Copyright © 2018 Pearson Canada, Inc.
Downloaded by goobal sahoota (s201064076@ddsbstudent.ca)
lOMoARcPSD|9882954
Fi
gur
e2.
6
Toyot
af
oundt
hee
mi
s
s
i
ons
t
andar
dst
oodi
ffic
ul
tt
ome
e
tt
obr
i
ngi
t
sdi
e
s
e
l
e
ngi
neoffe
r
i
ngst
oNor
t
h
Ame
r
i
c
a
.The
yha
vei
ns
t
e
adf
oc
us
e
dt
he
i
rr
e
s
e
ar
c
honhybr
i
de
ngi
net
e
c
hnol
ogy
.As
s
umeToyot
ac
hoos
e
s
t
opr
oduc
ebot
hhybr
i
de
ngi
neve
hi
c
l
e
sanddi
e
s
e
l
e
ngi
neve
hi
c
l
e
s(
f
ormar
ke
t
sout
s
i
deNor
t
hAme
r
i
c
a)
f
ori
t
sPr
i
usbr
and.Fi
gur
e2.
6s
howsc
hange
st
oi
t
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
nr
e
s
pons
et
one
w
de
ve
l
opme
nt
sanddi
ffe
r
e
nts
t
r
a
t
e
gi
cpr
oduc
t
i
onde
c
i
s
i
ons
.
53)Re
f
e
rt
oFi
g
ur
e2.
6.As
s
umeat
e
c
hnol
ogi
c
aladvanc
e
me
ntgr
e
a
t
l
yr
e
duc
e
st
hec
os
tt
opr
oduc
ehybr
i
de
ngi
neve
hi
c
l
e
s
.Thi
si
sbe
s
tr
e
pr
e
s
e
nt
e
dbyt
he
A)move
me
ntf
r
om Et
oFi
nGr
aphA.
B)move
me
ntf
r
om Gt
oH i
nGr
aphB.
C)move
me
ntf
r
om Kt
oLi
nGr
aphC.
D)move
me
ntf
r
om Ht
oJi
nGr
aphB.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
54)Re
f
e
rt
oFi
g
ur
e2.
6.I
nr
e
s
pons
et
oc
hangi
ngr
e
gul
a
t
i
onsande
nf
or
c
e
me
nt
,Toyot
ahasc
utbac
kont
he
pr
oduc
t
i
onofdi
e
s
e
l
powe
r
e
dve
hi
c
l
e
sandi
nc
r
e
as
e
di
t
shybr
i
dpr
oduc
t
i
on.Thi
ss
t
r
a
t
e
gyi
sbe
s
t
r
e
pr
e
s
e
nt
e
dbyt
he
A)move
me
ntf
r
om Ft
oEi
nGr
aphA.
B)move
me
ntf
r
om Gt
oJi
nGr
aphB.
C)move
me
ntf
r
om Lt
oKi
nGr
aphC.
D)move
me
ntf
r
om Jt
oHi
nGr
aphB.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
18
Copyright © 2018 Pearson Canada, Inc.
Downloaded by goobal sahoota (s201064076@ddsbstudent.ca)
lOMoARcPSD|9882954
55)Re
f
e
rt
oFi
g
ur
e2.
6.As
s
umet
ha
ti
n2019,af
t
e
re
xt
e
ns
i
ver
e
s
e
ar
c
handde
ve
l
opme
ntToyot
abui
l
dsa
ne
wf
ac
t
or
yt
ha
tc
anpr
oduc
ebot
ht
ype
sofve
hi
c
l
e
st
ha
tme
e
te
mi
s
s
i
ons
t
andar
ds
.Thi
si
sbe
s
t
r
e
pr
e
s
e
nt
e
dbyt
he
A)move
me
ntf
r
om Et
oFi
nGr
aphA.
B)move
me
ntf
r
om Ht
oJi
nGr
aphB.
C)move
me
ntf
r
om Lt
oKi
nGr
aphC.
D)move
me
ntf
r
om Jt
oGi
nGr
aphB.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
56)Thef
e
de
r
algove
r
nme
nts
uppor
t
she
al
t
hc
ar
es
pe
ndi
ngt
hr
ought
heCanadaHe
al
t
hTr
ans
f
e
r
.Ast
he
popul
a
t
i
ona
ge
sandt
henumbe
rofpe
opl
ewhoar
eove
r65c
ont
i
nue
st
or
i
s
e
,gove
r
nme
nts
pe
ndi
ngon
he
al
t
hc
ar
ewi
l
l
A)c
aus
et
hef
e
de
r
algove
r
nme
ntt
ogobankr
uptwi
t
hi
nt
hene
xt5ye
ar
s
.
B)de
s
t
abi
l
i
zet
hee
c
onomyandul
t
i
ma
t
e
l
yl
e
adt
ot
hec
r
e
a
t
i
onofne
wt
ax
e
s
.
C)l
e
a
vel
e
s
sf
undi
ngf
orot
he
rgove
r
nme
ntpr
ogr
ams
,s
uc
hase
duc
a
t
i
on,hous
i
ng,andi
nf
r
as
t
r
uc
t
ur
e
.
D)s
t
ar
tt
ode
c
r
e
as
e
,asmor
enur
s
e
swi
l
lbehi
r
e
di
ns
t
e
adofdoc
t
or
swhi
c
hwi
l
lr
e
duc
ehe
al
t
hc
ar
ec
os
t
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
40
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:Fac
i
ngTr
a
de
Offsi
nHe
al
t
hCar
eSpe
ndi
ng
57)Ade
c
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
ema
yber
e
pr
e
s
e
nt
e
dasamove
me
ntf
r
om apoi
ntont
he
pr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oapoi
ntout
s
i
det
hef
r
ont
i
e
r
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
58)I
fac
ount
r
yi
spr
oduc
i
nge
ffic
i
e
nt
l
yandi
sont
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
,t
heonl
ywa
yt
o
pr
oduc
emor
eofonegoodi
st
opr
oduc
el
e
s
soft
heot
he
r
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
19
Copyright © 2018 Pearson Canada, Inc.
Downloaded by goobal sahoota (s201064076@ddsbstudent.ca)
lOMoARcPSD|9882954
59)Cons
i
de
rac
ount
r
yt
ha
tpr
oduc
e
sonl
yt
wogoods
:ka
yaksandmi
t
t
e
ns
.Suppos
ei
ti
spos
s
i
bl
ef
ort
hi
s
c
ount
r
yt
oi
nc
r
e
as
ei
t
spr
oduc
t
i
onofka
yakswi
t
houtpr
oduc
i
ngf
e
we
rmi
t
t
e
ns
.I
nt
hi
sc
as
e
,i
t
sc
ur
r
e
nt
out
putc
ombi
na
t
i
oni
se
ffic
i
e
nt
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
36
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
60)Anyout
putc
ombi
na
t
i
onout
s
i
deapr
oduc
t
i
onpos
s
i
bi
l
i
t
yf
r
ont
i
e
ri
sas
s
oc
i
a
t
e
dwi
t
hunus
e
dor
unde
r
ut
i
l
i
ze
dr
e
s
our
c
e
s
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
61)Ani
nc
r
e
as
ei
nt
hel
abourf
or
c
es
hi
f
t
st
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
yf
r
ont
i
e
ri
nwar
dsove
rt
i
me
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
41
Topi
c
:Ec
onomi
cGr
owt
h
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
62)I
faddi
t
i
onaluni
t
sofagoodc
oul
dbepr
oduc
e
da
tac
ons
t
antoppor
t
uni
t
yc
os
t
,t
hepr
oduc
t
i
on
pos
s
i
bi
l
i
t
yf
r
ont
i
e
rwoul
dbebowe
dout
war
d(
c
onc
a
ve
)
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
40
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
63)Onadi
a
gr
am ofapr
oduc
t
i
onpos
s
i
bi
l
i
t
yf
r
ont
i
e
r
,oppor
t
uni
t
yc
os
ti
sr
e
pr
e
s
e
nt
e
dbyt
hepr
oduc
t
i
on
pos
s
i
bi
l
i
t
yf
r
ont
i
e
rs
hi
f
t
i
ngout
war
d.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
64)Toi
nc
r
e
as
ef
ue
le
ffic
i
e
nc
y
,aut
omobi
l
emanuf
ac
t
ur
e
r
smakec
ar
ss
mal
landl
i
ght
.Lar
gec
ar
sabs
or
b
mor
eoft
hei
mpac
tofanac
c
i
de
ntt
hans
mal
lc
ar
sbutyi
e
l
dl
owe
rf
ue
le
ffic
i
e
nc
y
.The
s
ef
ac
t
ss
ugge
s
tt
ha
t
ane
ga
t
i
ver
e
l
a
t
i
ons
hi
pe
xi
s
t
sbe
t
we
e
ns
af
e
t
yandf
ue
le
ffic
i
e
nc
y
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
36
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Ec
onomi
c
si
nYourLi
f
e
:TheTr
ade
offsWhe
nYouBuyaCa
r
20
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65)Gove
r
nme
nt
sdonotf
a
c
et
r
ade
offsi
npr
ovi
di
ngpr
ogr
ams
,onl
yi
ndi
vi
dual
sdo.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
40
Topi
c
:Tr
ade
offs
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:Fac
i
ngTr
a
de
Offsi
nHe
al
t
hCar
eSpe
ndi
ng
66)Wha
ti
sapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
?Wha
tdopoi
nt
sal
ongt
hef
r
ont
i
e
rr
e
pr
e
s
e
nt
?Wha
tdo
poi
nt
si
ns
i
deandout
s
i
det
hef
r
ont
i
e
rr
e
pr
e
s
e
nt
?
Ans
we
r
:Apr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
sac
ur
ves
howi
ngt
hemaxi
mum a
t
t
ai
nabl
ec
ombi
na
t
i
onsof
t
wopr
oduc
t
st
ha
tma
ybepr
oduc
e
dwi
t
ha
vai
l
abl
er
e
s
our
c
e
sandc
ur
r
e
ntt
e
c
hnol
ogy
.Poi
nt
sal
onga
pr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rar
ea
t
t
ai
nabl
ewi
t
ht
her
e
s
our
c
e
sa
vai
l
abl
eandar
ee
ffic
i
e
nt
.Poi
nt
s
i
ns
i
det
hef
r
ont
i
e
rar
ea
t
t
ai
nabl
ebuti
ne
ffic
i
e
nt
.Poi
nt
sout
s
i
det
hef
r
ont
i
e
rar
euna
t
t
ai
nabl
e
.
Di
ff:
2 Pa
geRe
f
:
36
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
67)Wha
ts
hapedoe
sapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
akei
fi
tdi
s
pl
a
ysi
nc
r
e
as
i
ngoppor
t
uni
t
yc
os
t
s
?
Wha
ts
hapedoe
sapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
akei
fi
tdi
s
pl
a
ysc
ons
t
antoppor
t
uni
t
yc
os
t
s
?Whi
c
h
s
hapei
smos
tc
ommoni
npr
oduc
t
i
ons
i
t
ua
t
i
ons
?Whyar
ebot
ht
ype
spr
e
s
e
nt
e
di
nt
het
e
xt
?
Ans
we
r
:Apr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwhi
c
hdi
s
pl
a
ysi
nc
r
e
as
i
ngoppor
t
uni
t
yc
os
t
si
sbowe
dout
.
Apr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwhi
c
hdi
s
pl
a
ysc
ons
t
antoppor
t
uni
t
yc
os
t
si
sl
i
ne
ar
.Abowe
dout
pr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
smos
tc
ommoni
npr
oduc
t
i
ons
i
t
ua
t
i
ons
.Li
ne
arpr
oduc
t
i
on
pos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
sar
emuc
hs
i
mpl
e
rt
owor
kwi
t
hma
t
he
ma
t
i
c
al
l
y
,whi
l
es
t
i
l
lde
mons
t
r
a
t
i
ngt
heke
y
poi
nt
soft
hemode
l
.
Di
ff:
2 Pa
geRe
f
:
40
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
21
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68)a
. Dr
a
w apr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rf
orac
ount
r
yt
ha
tpr
oduc
e
st
wogoods
,be
e
rand
pr
e
t
z
e
l
s
.As
s
umet
ha
tr
e
s
our
c
e
sar
ee
qual
l
ys
ui
t
e
dt
obot
ht
as
ks
.
b. De
fineoppor
t
uni
t
yc
os
t
s
.
c
. Us
eyourpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rgr
apht
ode
mons
t
r
a
t
et
hepr
i
nc
i
pl
eofoppor
t
uni
t
yc
os
t
s
.
Ans
we
r
:
a
. ThePPFi
sl
i
ne
art
or
e
fle
c
tt
hef
a
c
tt
ha
tr
e
s
our
c
e
sar
ee
qual
l
ys
ui
t
e
dt
obot
ht
as
ks
.
b. Oppor
t
uni
t
yc
os
ti
sde
fine
dast
hehi
ghe
s
tval
ue
dal
t
e
r
na
t
i
vet
ha
tmus
tbef
or
gonebyt
aki
ngan
ac
t
i
on.
c
.I
nt
hePPFgr
aphi
npar
t(
a)
,s
uppos
et
hec
ount
r
yi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntXandwi
s
he
st
o
movet
opoi
ntYs
ot
ha
ti
tc
anpr
oduc
emor
ebe
e
r
.Theonl
ywa
yi
tc
anobt
ai
nmor
ebe
e
ri
st
ogi
veup
s
omeamountofpr
e
t
ze
l
s
.
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
22
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Tabl
e2.
2
Pos
s
i
bl
eOut
put
Combi
na
t
i
ons
A
B
C
D
E
F
G
H
Appl
es
(
t
hous
andsof
pounds
)
70
60
50
40
30
20
10
0
Pe
ar
s
(
t
hous
andsof
pounds
)
0
20
36
48
56
60
63
65
69)Re
f
e
rt
oTabl
e2.
2.TheFr
ui
tFa
r
m pr
oduc
e
sonl
yappl
e
sandpe
ar
s
.Thet
abl
eaboves
howst
he
maxi
mum pos
s
i
bl
eout
putc
ombi
na
t
i
onsoft
het
wof
r
ui
t
sus
i
ngal
lr
e
s
our
c
e
sandc
ur
r
e
nt
l
ya
vai
l
abl
e
t
e
c
hnol
ogy
.
a
. Gr
aphTheFr
ui
tFar
m'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.Putappl
e
sont
hehor
i
z
ont
alaxi
sandpe
ar
s
ont
heve
r
t
i
c
alaxi
s
.Bes
ur
et
oi
de
nt
i
f
yt
heout
putc
ombi
na
t
i
onpoi
nt
sonyourdi
a
gr
am.
b. Suppos
eTheFr
ui
tFar
mi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntD.Wha
ti
st
heoppor
t
uni
t
yc
os
tof
pr
oduc
i
nganaddi
t
i
onal8,
000poundsofpe
ar
s
?
c
. Suppos
eTheFr
ui
tFar
mi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntD.Wha
thappe
nst
ot
heoppor
t
uni
t
yc
os
tof
pr
oduc
i
ngmor
eandmor
epe
ar
s
?Doe
si
ti
nc
r
e
as
e
,de
c
r
e
as
eorr
e
mai
nc
ons
t
ant
?Expl
ai
nyourans
we
r
.
d. Suppos
eTheFr
ui
tFar
mi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntG.Wha
thappe
nst
ot
heoppor
t
uni
t
yc
os
tof
pr
oduc
i
ngmor
eandmor
eappl
e
s
?Doe
si
ti
nc
r
e
as
e
,de
c
r
e
as
eorr
e
mai
nc
ons
t
ant
?Expl
ai
nyourans
we
r
.
e
. Suppos
eTheFr
ui
tFar
mi
spl
a
gue
dbyt
heappl
ema
ggoti
nf
e
s
t
a
t
i
onwhi
c
hde
s
t
r
oysappl
et
r
e
e
sbut
notpe
ar
s
.Show i
nagr
aphwha
thappe
nst
oi
t
sPPF.
23
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Ans
we
r
:
a
.
b. 10,
000poundsofappl
e
s
c
.I
ti
nc
r
e
as
e
s
.Fore
xampl
et
omovet
oE,TheFr
ui
tFar
m hast
ogi
veup10,
000poundsofappl
e
st
o
pr
oduc
eanaddi
t
i
onal8,
000poundsofpe
ar
s
.Fore
ac
haddi
t
i
onal10,
000poundsofappl
e
sf
or
e
gone
,t
he
pa
yoffi
nt
e
r
msofpe
ar
sge
t
spr
ogr
e
s
s
i
ve
l
ys
mal
l
e
r
.
d. I
ti
nc
r
e
as
e
s
.Eac
ht
i
mei
twant
st
opr
oduc
eanaddi
t
i
onal10,
000poundsofappl
e
s
,mor
eandmor
e
pe
ar
smus
tbegi
ve
nup.
e
.
Di
ff:
3 Pa
geRe
f
:
3839
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
24
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70)________e
xi
s
t
sbe
c
aus
eunl
i
mi
t
e
dwant
se
x
c
e
e
dt
hel
i
mi
t
e
dr
e
s
our
c
e
sa
vai
l
abl
et
of
ul
fil
lt
hos
ewant
s
.
A)Sc
ar
c
i
t
y
B)Pr
oduc
t
i
vee
ffic
i
e
nc
y
C)Thec
ommande
c
onomy
D)Ec
onomi
cgr
owt
h
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
36
Topi
c
:Sc
ar
c
i
t
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o1:
I
de
nt
i
f
yt
hebas
i
cpr
i
nc
i
pl
e
sofe
c
onomi
c
sande
xpl
ai
nhow t
ot
hi
nkl
i
keane
c
onomi
s
t
AACSB:Re
fle
c
t
i
veThi
nki
ng
71)Toc
ompe
t
ei
nt
heaut
omobi
l
emar
ke
t
,Toyot
amus
tmakemanys
t
r
a
t
e
gi
cde
c
i
s
i
ons
,s
uc
haswhe
t
he
r
t
oi
nt
r
oduc
eane
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a
rmode
l
,whe
t
he
rt
opr
oduc
eal
t
e
r
na
t
i
ve
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ue
lve
hi
c
l
e
s
,andwhe
r
et
oadve
r
t
i
s
e
.At
Toyot
a'
sCambr
i
dge
,Ont
ar
i
opl
ant
,mana
ge
r
smus
tde
c
i
deont
hemont
hl
ypr
oduc
t
i
onquant
i
t
i
e
soft
he
i
r
Cor
ol
l
a
,Ma
t
r
i
x
,Ra
v4,andLe
xusRX450hmode
l
s
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nmaki
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he
s
ede
c
i
s
i
ons
,t
hemana
ge
r
s
A)f
ac
enot
r
ade
offsbe
c
aus
et
heCambr
i
dgepl
antonl
ypr
oduc
e
st
he
s
ef
ourmode
l
soft
hemanyToyot
a
mode
l
spr
oduc
e
dwor
l
dwi
de
.
B)f
a
c
et
r
ade
offs
,be
c
aus
epr
oduc
i
ngmor
eofonemode
lme
anspr
oduc
i
ngl
e
s
soft
heot
he
r
s
.
C)wi
l
lc
hoos
et
oonl
ypr
oduc
et
hequant
i
t
yofCor
ol
l
a
,Ma
t
r
i
x
,Ra
v4,andRX350mode
l
swhe
r
e
mar
gi
nalc
os
te
qual
sz
e
r
o.
D)wi
l
lal
wa
ysde
c
i
deonpr
oduc
t
i
onquant
i
t
i
e
sa
twhi
c
hr
e
ve
nue
sar
emaxi
mi
ze
d.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
35
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Chapt
e
rOpe
ne
r
:Mana
ge
r
sMakeChoi
c
e
sa
tToyot
a
72)Thepr
i
nc
i
pl
eof________i
st
ha
tt
hee
c
onomi
cc
os
tofus
i
ngaf
ac
t
orofpr
oduc
t
i
oni
st
heal
t
e
r
na
t
i
ve
us
eoft
ha
tf
ac
t
ort
ha
ti
sgi
ve
nup.
A)mar
gi
nalc
os
t
B)oppor
t
uni
t
yc
os
t
C)nor
ma
t
i
vee
c
onomi
c
s
D)e
nt
r
e
pr
e
ne
ur
s
hi
p
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
36
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
25
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73)Thepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rs
hows
A)t
hevar
i
ouspr
oduc
t
st
ha
tc
anbepr
oduc
e
dnow andi
nt
hef
ut
ur
e
.
B)t
hemaxi
mum a
t
t
ai
nabl
ec
ombi
na
t
i
onsoft
wopr
oduc
t
st
ha
tma
ybepr
oduc
e
di
napar
t
i
c
ul
art
i
me
pe
r
i
odwi
t
ha
vai
l
abl
er
e
s
our
c
e
s
.
C)wha
tane
qui
t
abl
edi
s
t
r
i
but
i
onofpr
oduc
t
samongc
i
t
i
ze
nswoul
dbe
.
D)wha
tpe
opl
ewantfir
mst
opr
oduc
ei
napar
t
i
c
ul
art
i
mepe
r
i
od.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
36
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
74)________s
howst
ha
ti
fal
lr
e
s
our
c
e
sar
ef
ul
l
yande
ffic
i
e
nt
l
yut
i
l
i
ze
d,mor
eofonegoodc
anbe
pr
oduc
e
donl
ybypr
oduc
i
ngl
e
s
sofanot
he
rgood.
A)Compar
a
t
i
veadvant
a
ge
B)Abs
ol
ut
eadvant
a
ge
C)Themi
x
e
dmar
ke
ts
ys
t
e
m
D)Thepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rmode
l
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
75)Thepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rmode
las
s
ume
sal
loft
hef
ol
l
owi
ng,e
x
c
e
p
t
A)l
abour
,c
api
t
al
,l
and,andna
t
ur
alr
e
s
our
c
e
sar
efix
e
di
nquant
i
t
y
.
B)t
hee
c
onomypr
oduc
e
sonl
yt
wopr
oduc
t
s
.
C)anyl
e
ve
loft
het
wopr
oduc
t
st
ha
tt
hee
c
onomypr
oduc
e
si
sc
ur
r
e
nt
l
ypos
s
i
bl
e
.
D)t
hel
e
ve
loft
e
c
hnol
ogyi
sfix
e
dandunc
hangi
ng.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
3637
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
76)The________pr
oduc
t
i
onpoi
nt
sonapr
oduc
t
i
onpos
s
i
bi
l
i
t
yc
ur
vear
et
hepoi
nt
sal
ongandi
ns
i
de
t
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
yf
r
ont
i
e
r
.
A)a
t
t
ai
nabl
e
B)una
t
t
ai
nabl
e
C)pr
oduc
t
i
ve
l
ye
ffic
i
e
nt
D)al
l
oc
a
t
i
ve
l
ye
ffic
i
e
nt
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
3637
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
77)Theuna
t
t
ai
nabl
epoi
nt
si
napr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sdi
a
gr
am ar
e
A)t
hepoi
nt
swi
t
hi
nt
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
B)t
hepoi
nt
sal
ongt
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
C)t
hepoi
nt
soft
hehor
i
z
ont
alandve
r
t
i
c
ali
nt
e
r
c
e
pt
s
.
D)t
hepoi
nt
sout
s
i
det
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:D
26
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Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Fi
gur
e2.
7
78)Re
f
e
rt
oFi
g
ur
e2.
7.________i
s(
ar
e
)i
ne
ffic
i
e
nti
nt
ha
tnotal
lr
e
s
our
c
e
sar
ebe
i
ngus
e
d.
A)Poi
ntA
B)Poi
ntB
C)Poi
ntC
D)Poi
nt
sAandC
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
27
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79)Re
f
e
rt
oFi
g
ur
e2.
7.________i
s(
ar
e
)t
e
c
hni
c
al
l
ye
ffic
i
e
nt
.
A)Poi
ntA
B)Poi
ntB
C)Poi
ntC
D)Poi
nt
sBandC
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
80)Re
f
e
rt
oFi
g
ur
e2.
7.________i
s(
ar
e
)una
t
t
ai
nabl
ewi
t
hc
ur
r
e
ntr
e
s
our
c
e
s
.
A)Poi
ntA
B)Poi
ntB
C)Poi
ntC
D)Poi
nt
sAandC
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
81)I
napr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rmode
l
,apoi
nti
ns
i
det
hef
r
ont
i
e
ri
s
A)al
l
oc
a
t
i
ve
l
ye
ffic
i
e
nt
.
B)pr
oduc
t
i
ve
l
ye
ffic
i
e
nt
C)al
l
oc
a
t
i
ve
l
yi
ne
ffic
i
e
nt
.
D)pr
oduc
t
i
ve
l
yi
ne
ffic
i
e
nt
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
82)Sus
anc
anpe
r
f
or
me
i
t
he
rac
ombi
na
t
i
onof35ma
ni
c
ur
e
sand70pe
di
c
ur
e
sorac
ombi
na
t
i
onof50
mani
c
ur
e
sand45pe
di
c
ur
e
s
.I
fs
henow pe
r
f
or
ms35mani
c
ur
e
sand70pe
di
c
ur
e
s
,wha
ti
st
he
oppor
t
uni
t
yc
os
tofpe
r
f
or
mi
nganaddi
t
i
onal15mani
c
ur
e
s
?
A)5pe
di
c
ur
e
s
B)20pe
di
c
ur
e
s
C)25pe
di
c
ur
e
s
D)45pe
di
c
ur
e
s
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
28
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83)I
ft
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
sl
i
ne
ar
,t
he
n
A)oppor
t
uni
t
yc
os
t
sar
ede
c
r
e
as
i
ngasmor
eofonegoodi
spr
oduc
e
d.
B)i
ti
se
as
yt
oe
ffic
i
e
nt
l
ypr
oduc
eout
put
.
C)oppor
t
uni
t
yc
os
t
sar
ei
nc
r
e
as
i
ngasmor
eofonegoodi
spr
oduc
e
d.
D)oppor
t
uni
t
yc
os
t
sar
ec
ons
t
antasmor
eofonegoodi
spr
oduc
e
d.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Fi
gur
e2.
8
Fi
gur
e2.
8aboves
howst
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rf
orVi
dal
i
a
,ana
t
i
ont
ha
tpr
oduc
e
st
wo
goods
,r
os
e
sandor
c
hi
ds
.
84)Re
f
e
rt
oFi
g
ur
e2.
8.Wha
ti
st
heoppor
t
uni
t
yc
os
tofonedoze
nor
c
hi
ds
?
A)0.
4doze
nr
os
e
s
B)2.
5doze
nr
os
e
s
C)7.
25doze
nr
os
e
s
D)16doze
nr
os
e
s
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
29
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85)Re
f
e
rt
oFi
g
ur
e2.
8.Wha
ti
st
heoppor
t
uni
t
yc
os
tofonedoze
nr
os
e
s
?
A)0.
4doze
nor
c
hi
ds
B)2.
5doze
nor
c
hi
ds
C)7.
25doze
nor
c
hi
ds
D)16doze
nor
c
hi
ds
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
86)Re
f
e
rt
oFi
g
ur
e2.
8.Suppos
eVi
dal
i
ai
sc
ur
r
e
nt
l
ypr
oduc
i
ng20doze
nor
c
hi
dspe
rpe
r
i
od.How many
r
os
e
si
si
tal
s
opr
oduc
i
ng,as
s
umi
ngt
ha
tr
e
s
our
c
e
sar
ef
ul
l
yut
i
l
i
ze
d?
A)30doze
nr
os
e
s
B)50doze
nr
os
e
s
C)100doze
nr
os
e
s
D)150doze
nr
os
e
s
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
87)Re
f
e
rt
oFi
g
ur
e2.
8.Thel
i
ne
arpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
nt
hefigur
ei
ndi
c
a
t
e
st
ha
t
A)Vi
dal
i
ahasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofor
c
hi
ds
.
B)Vi
dal
i
ahasac
ompar
a
t
i
vedi
s
advant
a
gei
nt
hepr
oduc
t
i
onofr
os
e
s
.
C)t
het
r
ade
offbe
t
we
e
nr
os
e
sandor
c
hi
dsi
sc
ons
t
a
nt
.
D)i
ti
spr
ogr
e
s
s
i
ve
l
ymor
ee
xpe
ns
i
vet
opr
oduc
eor
c
hi
ds
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
30
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88)Re
f
e
rt
oFi
g
ur
e2.
8.Suppos
eVi
dal
i
ar
e
c
e
i
ve
sor
de
r
sf
or60doze
nor
c
hi
dsand120doze
nr
os
e
s
.
Vi
dal
i
awi
l
l
A)notbeabl
et
opr
oduc
ee
nought
ofil
lt
heor
de
r
.
B)makeal
otofe
xt
r
amone
y
.
C)beus
i
ngi
t
sr
e
s
our
c
e
si
ne
ffic
i
e
nt
l
yi
fi
tfil
l
st
heor
de
r
.
D)e
xpe
r
i
e
nc
ee
c
onomi
cgr
owt
hi
fi
tfil
l
st
heor
de
r
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
89)Wha
ti
st
heoppor
t
uni
t
yc
os
tofapr
ovi
nc
i
algove
r
nme
ntr
ai
s
i
ngt
ax
e
st
opa
yf
ori
nc
r
e
as
e
ds
pe
ndi
ng
onhe
al
t
hc
ar
e
?
A)l
e
s
spr
i
va
t
ec
ons
umpt
i
on
B)mor
epr
i
va
t
ec
ons
umpt
i
on
C)l
owe
rt
axr
e
ve
nue
D)c
ut
st
oot
he
rgove
r
nme
ntpr
ogr
ams
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
40
Topi
c
:Tr
ade
offs
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:Fac
i
ngTr
a
de
Offsi
nHe
al
t
hCar
eSpe
ndi
ng
90)Apr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwi
t
ha____
____s
hapei
ndi
c
a
t
e
si
nc
r
e
as
i
ngoppor
t
uni
t
yc
os
t
sas
mor
eandmor
eofonegoodi
spr
oduc
e
d.
A)l
i
ne
ar
B)bowe
di
nwar
d
C)bowe
dout
war
d
D)pe
r
f
e
c
t
l
yhor
i
z
ont
al
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
41
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
31
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91)I
nc
r
e
as
i
ngoppor
t
uni
t
yc
os
tal
ongabowe
doutpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
roc
c
ur
sbe
c
aus
e
A)ofi
ne
ffic
i
e
ntpr
oduc
t
i
on.
B)ofi
ne
ffe
c
t
i
vemana
ge
me
ntbye
nt
r
e
pr
e
ne
ur
s
.
C)s
omef
a
c
t
or
sofpr
oduc
t
i
onar
enote
qual
l
ys
ui
t
e
dt
opr
oduc
i
ngbot
hgoodsors
e
r
vi
c
e
s
.
D)oft
hes
c
ar
c
i
t
yoff
ac
t
or
sofpr
oduc
t
i
on.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
92)Thes
l
opeofapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rme
as
ur
e
st
he________ofpr
oduc
i
ngonemor
euni
tof
agood.
A)mar
gi
nalr
e
ve
nue
B)t
ot
alr
e
ve
nue
C)mar
gi
nalc
os
t
D)oppor
t
uni
t
yc
os
t
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
93)I
nc
r
e
as
i
ngmar
gi
naloppor
t
uni
t
yc
os
ti
mpl
i
e
st
ha
t
A)t
hemor
er
e
s
our
c
e
sal
r
e
adyde
vot
e
dt
oanya
c
t
i
vi
t
y
,t
hepa
yofff
r
om al
l
oc
a
t
i
ngye
tmor
er
e
s
our
c
e
st
o
t
ha
ta
c
t
i
vi
t
yi
nc
r
e
as
e
sbypr
ogr
e
s
s
i
ve
l
ys
mal
l
e
ramount
s
.
B)t
hemor
er
e
s
our
c
e
sal
r
e
adyde
vot
e
dt
oanyac
t
i
vi
t
y
,t
hebe
ne
fit
sf
r
om al
l
oc
a
t
i
ngye
tmor
er
e
s
our
c
e
st
o
t
ha
ta
c
t
i
vi
t
yde
c
r
e
as
e
sbypr
ogr
e
s
s
i
ve
l
yl
ar
ge
ramount
s
.
C)r
i
s
i
ngoppor
t
uni
t
yc
os
t
smakei
ti
ne
ffic
i
e
ntt
opr
oduc
ebe
yondac
e
r
t
ai
nquant
i
t
y
.
D)t
hel
a
w ofs
c
ar
c
i
t
yappl
i
e
s
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Re
fle
c
t
i
veThi
nki
ng
32
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94)I
foppor
t
uni
t
yc
os
t
sar
e________,t
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwoul
dbegr
aphe
dasa
ne
ga
t
i
ve
l
ys
l
ope
ds
t
r
ai
ghtl
i
ne
.
A)de
c
r
e
as
i
ng
B)i
nc
r
e
as
i
ng
C)ne
ga
t
i
ve
D)c
ons
t
ant
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Fi
gur
e2.
9
95)Re
f
e
rt
oFi
g
ur
e2.
9.Car
l
osVanyagr
owst
oma
t
oe
sands
t
r
a
wbe
r
r
i
e
sonhi
sl
and.Hi
sl
andi
se
qual
l
y
s
ui
t
e
df
orgr
owi
nge
i
t
he
rf
r
ui
t
.Whi
c
hoft
hegr
aphsi
nFi
gur
e2.
9r
e
pr
e
s
e
nt
shi
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
s
f
r
ont
i
e
r
?
A)Gr
aphA
B)Gr
aphB
C)Gr
aphC
D)e
i
t
he
rGr
aphAorGr
aphB
E)e
i
t
he
rGr
aphBorGr
aphC
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
33
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96)Re
f
e
rt
oFi
g
ur
e2.
9.Car
l
osVanyagr
owst
oma
t
oe
sands
t
r
a
wbe
r
r
i
e
sonhi
sl
and.Apor
t
i
onofhi
sl
and
i
smor
es
ui
t
abl
ef
orgr
owi
ngt
oma
t
oe
sandt
heot
he
rpor
t
i
oni
sbe
t
t
e
rs
ui
t
e
df
ors
t
r
a
wbe
r
r
yc
ul
t
i
va
t
i
on.
Whi
c
hoft
hegr
aphsi
nFi
gur
e2.
9r
e
pr
e
s
e
nthi
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
?
A)Gr
aphA
B)Gr
aphB
C)Gr
aphC
D)e
i
t
he
rGr
aphAorGr
aphB
E)e
i
t
he
rGr
aphBorGr
aphC
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
Tabl
e2.
3
Pr
oduc
t
i
onChoi
c
e
sf
orDi
na'
sDi
ne
r
Quant
i
t
yof Quant
i
t
yof
Sl
i
der
s
HotWi
ngs
Choi
c
e
Pr
oduc
ed
Pr
oduc
ed
A
80
0
B
60
25
C
40
50
D
20
75
E
0
100
97)Re
f
e
rt
oTabl
e2.
3.As
s
umeDi
na'
sDi
ne
ronl
ypr
oduc
e
ss
l
i
de
r
sandhotwi
ngs
.Ac
ombi
na
t
i
onof40
s
l
i
de
r
sand50hotwi
ngswoul
dappe
ar
A)al
ongDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
B)i
ns
i
deDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
C)out
s
i
deDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)a
tt
heve
r
t
i
c
ali
nt
e
r
c
e
ptofDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
34
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98)Re
f
e
rt
oTabl
e2.
3.As
s
umeDi
na'
sDi
ne
ronl
ypr
oduc
e
ss
l
i
de
r
sandhotwi
ngs
.Ac
ombi
na
t
i
onof40
s
l
i
de
r
sand25hotwi
ngswoul
dappe
ar
A)al
ongDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
B)i
ns
i
deDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
C)out
s
i
deDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)a
tt
heve
r
t
i
c
ali
nt
e
r
c
e
ptofDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
99)Re
f
e
rt
oTabl
e2.
3.As
s
umeDi
na'
sDi
ne
ronl
ypr
oduc
e
ss
l
i
de
r
sandhotwi
ngs
.Ac
ombi
na
t
i
onof60
s
l
i
de
r
sand50hotwi
ngswoul
dappe
ar
A)al
ongDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
B)i
ns
i
deDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
C)out
s
i
deDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)a
tt
heve
r
t
i
c
ali
nt
e
r
c
e
ptofDi
na'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
100)Re
f
e
rt
oTabl
e2.
3.Di
naf
ac
e
s________oppor
t
uni
t
yc
os
t
si
nt
hepr
oduc
t
i
onofs
l
i
de
r
sandhot
wi
ngs
.
A)i
nc
r
e
as
i
ng
B)de
c
r
e
as
i
ng
C)c
ons
t
ant
D)ne
ga
t
i
ve
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
101)Anout
war
ds
hi
f
tofana
t
i
on'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rc
anoc
c
urduet
o
A)ar
e
duc
t
i
oni
nune
mpl
oyme
nt
.
B)ana
t
ur
aldi
s
as
t
e
rl
i
keahur
r
i
c
aneorbade
ar
t
hquake
.
C)ac
hangei
nt
heamount
sofonegoodde
s
i
r
e
d.
D)ani
nc
r
e
as
ei
nt
hel
abourf
or
c
e
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
102)________ana
t
i
on'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rr
e
pr
e
s
e
nt
se
c
onomi
cgr
owt
h.
A)Anout
war
ds
hi
f
tof
B)Ani
nwar
ds
hi
f
tof
C)Movi
ngupal
ong
D)Movi
ngdownal
ong
Ans
we
r
:A
35
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Di
ff:
1 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
103)Ec
onomi
cgr
owt
hi
sr
e
pr
e
s
e
nt
e
donapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rmode
lbyt
hepr
oduc
t
i
on
pos
s
i
bi
l
i
t
yf
r
ont
i
e
r
A)s
hi
f
t
i
ngout
war
d.
B)s
hi
f
t
i
ngi
nwar
d.
C)be
c
omi
ngs
t
e
e
pe
r
.
D)be
c
omi
ngfla
t
t
e
r
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
104)Wi
t
houtt
e
c
hnol
ogi
c
aladvanc
e
me
nt
,how c
anana
t
i
onac
hi
e
vee
c
onomi
cgr
owt
h?
A)bypr
oduc
i
ngmor
ehi
ghval
uegoodsandf
e
we
rl
owval
uegoods
B)byi
nc
r
e
as
i
ngt
hequant
i
t
i
e
sofa
tl
e
as
tonef
ac
t
orofpr
oduc
t
i
on
C)bypr
oduc
i
ngmor
el
owval
uegoodsandf
e
we
rhi
ghval
uegoods
D)byde
c
r
e
as
i
ngt
hes
i
zeoft
hel
abourf
or
c
e
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o17:
Expl
ai
nt
hee
ffe
c
t
soft
hef
ac
t
or
sofpr
oduc
t
i
on,f
ac
t
orde
mand,andf
ac
t
ors
uppl
yand
l
abouri
nf
ac
t
ormar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
105)Whi
c
hoft
hef
ol
l
owi
ngwoul
ds
hi
f
tana
t
i
on'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
ri
nwar
d?
A)di
s
c
ove
r
i
ngac
he
apwa
yt
oc
onve
r
ts
uns
hi
nei
nt
oe
l
e
c
t
r
i
c
i
t
y
B)pr
oduc
i
ngmor
ec
api
t
ale
qui
pme
nt
C)ani
nc
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
e
D)al
a
wr
e
qui
r
i
ngwor
ke
r
st
or
e
t
i
r
ea
ta
ge50
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
36
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106)J
apanc
ur
r
e
nt
l
yhasf
e
we
rwome
nwor
ki
ng(
out
s
i
det
hehome
)t
hanmos
tot
he
rde
ve
l
ope
dc
ount
r
i
e
s
.
I
ft
he
s
ewome
nwe
r
et
ot
akeonj
obs
,i
twoul
d
A)c
aus
eJ
apan'
sPPFt
os
hi
f
tout
war
d
B)c
aus
eJ
apan'
sPPFt
os
hi
f
ti
nwar
d
C)c
aus
ear
e
duc
t
i
oni
nJ
apan'
sabi
l
i
t
yt
opr
oduc
emanuf
ac
t
ur
e
dgoods
D)c
aus
eJ
apant
oal
l
ow muc
hmor
ei
mmi
gr
a
t
i
on
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
Fi
gur
e2.
10
Fi
gur
e2.
10s
howsvar
i
ouspoi
nt
sont
hr
e
edi
ffe
r
e
ntpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
sf
orana
t
i
on.
107)Re
f
e
rt
oFi
g
ur
e2.
10.Amove
me
ntf
r
om ________c
oul
doc
c
urbe
c
aus
eofani
nfluxofi
mmi
gr
ant
l
abour
.
A)Xt
oW
B)Xt
oY
C)W t
oV
D)W t
oX
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
37
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108)Re
f
e
rt
oFi
g
ur
e2.
10.Amove
me
ntf
r
om ________i
st
her
e
s
ul
tofadvanc
e
me
nt
si
npl
as
t
i
cpr
oduc
t
i
on
t
e
c
hnol
ogy
.
A)Vt
oX
B)W t
oX
C)Zt
oW
D)Yt
oZ
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
109)Cons
i
de
rt
hef
ol
l
owi
nge
ve
nt
s
:
a
. ani
nc
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
e
b. ade
c
r
e
as
ei
nana
t
i
on'
smone
ys
uppl
y
c
. awart
ha
tki
l
l
sas
i
gni
fic
antpor
t
i
onofana
t
i
on'
spopul
a
t
i
on
Re
f
e
rt
oFi
gur
e2.
10.Whi
c
hoft
hee
ve
nt
sl
i
s
t
e
dabovec
oul
dc
aus
eamove
me
ntf
r
om Zt
oX?
A)a
,b
,andc
B)aandbonl
y
C)aandconl
y
D)aonl
y
E)conl
y
Ans
we
r
:E
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
110)Cons
i
de
rt
hef
ol
l
owi
ngmove
me
nt
s
:
a
. f
r
om poi
ntVt
opoi
ntW
b. f
r
om poi
ntW t
opoi
ntY
c
. f
r
om poi
ntYt
opoi
ntZ
Re
f
e
rt
oFi
gur
e2.
10.Whi
c
hoft
hemove
me
nt
sl
i
s
t
e
dabover
e
pr
e
s
e
nt
sadvanc
e
me
nt
si
nt
e
c
hnol
ogywi
t
h
r
e
s
pe
c
tt
obot
hpl
as
t
i
cpr
oduc
t
i
onandf
oodpr
oduc
t
i
on?
A)a
,b
,andc
B)bandconl
y
C)bonl
y
D)conl
y
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
38
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111)Cons
i
de
rt
hef
ol
l
owi
nge
ve
nt
s
:
a
. ade
c
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
e
b. ge
ne
r
alt
e
c
hnol
ogi
c
aladvanc
e
me
nt
c
. ani
nc
r
e
as
ei
nc
ons
ume
rwe
al
t
h
Re
f
e
rt
oFi
gur
e2.
10.Whi
c
hoft
hee
ve
nt
sl
i
s
t
e
dabovec
oul
dc
aus
eamove
me
ntf
r
om Vt
oX?
A)aonl
y
B)aandbonl
y
C)bandconl
y
D)a
,b
,andc
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
112)Cons
i
de
rt
hef
ol
l
owi
nge
ve
nt
s
:
a
. ar
e
duc
t
i
oni
nt
hepa
t
e
ntpr
ot
e
c
t
i
onpe
r
i
odt
onomor
et
han2ye
ar
s
b. awart
ha
tde
s
t
r
oysas
ubs
t
ant
i
alpor
t
i
onofana
t
i
on'
sc
api
t
als
t
oc
k
c
. t
hel
ac
kofas
e
c
ur
eande
nf
or
c
e
abl
epr
ope
r
t
yr
i
ght
ss
ys
t
e
m
Re
f
e
rt
oFi
gur
e2.
10.Whi
c
hoft
hee
ve
nt
sl
i
s
t
e
dabovec
oul
dc
aus
eamove
me
ntf
r
om W t
oV?
A)aonl
y
B)aandbonl
y
C)aandconl
y
D)bandconl
y
E)a
,b
,andc
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4142
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
113)Ther
e
c
e
s
s
i
onof20082009woul
dmos
tl
i
ke
l
yber
e
pr
e
s
e
nt
e
di
napr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
gr
aphby
A)move
me
ntt
oapoi
nti
ns
i
det
hef
r
ont
i
e
r
.
B)move
me
ntt
oapoi
ntout
s
i
det
hef
r
ont
i
e
r
.
C)move
me
ntt
oapoi
ntont
hef
r
ont
i
e
r
.
D)ani
nc
r
e
as
ei
nani
nt
e
r
c
e
ptone
i
t
he
rt
heve
r
t
i
c
alort
hehor
i
z
ont
alaxi
soft
hePPF.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Anal
yt
i
cSki
l
l
s
39
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114)Suppos
et
he
r
ei
ss
omeune
mpl
oyme
nti
nt
hee
c
onomyands
oc
i
e
t
yde
c
i
de
st
ha
ti
twant
smor
eofone
good.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)I
ti
snotpos
s
i
bl
et
oac
hi
e
vet
hi
sunl
e
s
st
e
c
hnol
ogyadvanc
e
s
.
B)I
tc
ani
nc
r
e
as
eout
putwi
t
houtgi
vi
ngupanot
he
rgoodbye
mpl
oyi
ngmor
er
e
s
our
c
e
s
.
C)I
twi
l
lha
vet
oi
nc
r
e
as
er
e
s
our
c
es
uppl
i
e
s
.
D)I
twi
l
lha
vet
ogi
veuppr
oduc
t
i
onandc
ons
umpt
i
onofs
omeot
he
rgood.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
115)I
fs
oc
i
e
t
yde
c
i
de
si
twant
smor
eofonegooda
nd________,t
he
ni
thast
ogi
veups
omeofanot
he
r
goodandi
nc
urs
omeoppor
t
uni
t
yc
os
t
s
.
A)t
e
c
hnol
ogyadvanc
e
s
B)r
e
s
our
c
e
sar
eunde
r
ut
i
l
i
ze
d
C)al
lr
e
s
our
c
e
sar
ef
ul
l
yut
i
l
i
ze
d
D)ne
wr
e
s
our
c
e
sar
edi
s
c
ove
r
e
d
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Re
fle
c
t
i
veThi
nki
ng
116)Ac
c
or
di
ngt
ot
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
ymode
l
,i
fmor
er
e
s
our
c
e
sar
eal
l
oc
a
t
e
dt
ot
hepr
oduc
t
i
onof
phys
i
c
alandhumanc
api
t
al
,whi
c
hoft
hef
ol
l
owi
ngi
sno
tl
i
ke
l
yt
ooc
c
ur
?
A)Fe
we
rgoodswi
l
lbepr
oduc
e
df
orc
ons
umpt
i
ont
oda
y
.
B)Thepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rwi
l
ls
hi
f
tout
war
di
nt
hef
ut
ur
e
.
C)Fut
ur
ee
c
onomi
cgr
owt
hwi
l
lbee
nhanc
e
d.
D)Thec
ount
r
y'
st
ot
alpr
oduc
t
i
onwi
l
lf
al
l
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
42
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
40
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Fi
gur
e2.
11
117)Re
f
e
rt
oFi
g
ur
e2.
11.I
ft
hee
c
onomyi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntY,wha
ti
st
heoppor
t
uni
t
yc
os
t
ofmovi
ngt
opoi
ntX?
A)5mi
l
l
i
ont
onsofs
t
e
e
l
B)9mi
l
l
i
ont
onsofpape
r
C)5mi
l
l
i
ont
onsofpape
r
D)19mi
l
l
i
ont
onsofs
t
e
e
l
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
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ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
118)Re
f
e
rt
oFi
g
ur
e2.
11.I
ft
hee
c
onomyi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntX,wha
ti
st
heoppor
t
uni
t
yc
os
t
ofmovi
ngt
opoi
ntW?
A)3mi
l
l
i
ont
onsofs
t
e
e
l
B)19mi
l
l
i
ont
onsofs
t
e
e
l
C)5mi
l
l
i
ont
onsofpape
r
D)9mi
l
l
i
ont
onsofpape
r
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
3741
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
41
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119)As
t
ude
ntc
omme
nt
st
ohi
sr
oomma
t
et
ha
tt
heonl
ywa
yhewi
l
lbeabl
et
opas
shi
sfinale
xamsi
st
o
nots
l
e
e
pf
ort
hene
xtt
hr
e
eda
ys
.Thi
ss
t
a
t
e
me
nts
ugge
s
t
st
ha
t
A)s
t
ude
nt
sar
emor
ec
onc
e
r
ne
daboutgoodgr
ade
st
hangoodhe
al
t
h.
B)s
oc
i
e
t
ys
houl
dval
ues
l
e
e
pmor
ehi
ghl
yt
hangoodgr
ade
s
.
C)t
he
r
ei
sat
r
ade
offbe
t
we
e
ns
t
udyi
ngands
l
e
e
p.
D)s
oc
i
e
t
ys
houl
dval
uegoodgr
ade
smor
ehi
ghl
yt
hans
l
e
e
pbe
c
aus
es
t
ude
nt
sc
anc
a
t
c
hupont
he
i
r
s
l
e
e
ponc
efinale
xamsar
eove
r
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
120)Suppos
eyoure
xpe
ns
e
sf
ort
hi
st
e
r
m ar
easf
ol
l
ows
:t
ui
t
i
on:$5,
000,r
oom andboar
d:$3,
000,books
andot
he
re
duc
a
t
i
onals
uppl
i
e
s
:$500.Fur
t
he
r
,dur
i
ngt
het
e
r
m,youc
anonl
ywor
kpar
t
t
i
meande
ar
n
$12,
000i
ns
t
e
adofyourf
ul
l
t
i
mes
al
ar
yof$20,
000.Wha
ti
st
heoppor
t
uni
t
yc
os
tofgoi
ngt
ouni
ve
r
s
i
t
y
t
hi
st
e
r
m,as
s
umi
ngt
ha
tyourr
oom andboar
de
xpe
ns
e
swoul
dbet
hes
amee
ve
ni
fyoudi
dnotgot
o
uni
ve
r
s
i
t
y?
A)$5,
500
B)$8,
500
C)$13,
500
D)$20,
500
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
121)Theoppor
t
uni
t
yc
os
toft
aki
nganonl
i
nehi
s
t
or
yc
l
as
si
s
A)t
heknowl
e
dgeande
nj
oyme
ntyour
e
c
e
i
vef
r
om t
aki
ngt
hec
l
as
s
.
B)t
heval
ueoft
het
i
mes
pe
ntonl
i
ne
.
C)e
qualt
ot
hehi
ghe
s
tval
ueofanal
t
e
r
na
t
i
veus
eoft
het
i
meandmone
ys
pe
ntont
hec
l
as
s
.
D)ze
r
obe
c
aus
et
he
r
ei
snoc
l
as
s
r
oom t
i
mei
nvol
ve
di
fyouar
ee
nr
ol
l
e
di
nt
hec
our
s
e
.
E)t
hec
os
toft
ui
t
i
onandf
e
e
sonl
y
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Re
fle
c
t
i
veThi
nki
ng
42
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Fi
gur
e2.
12
Te
s
l
amot
or
sc
ur
r
e
nt
l
yhast
hr
e
edi
ffe
r
e
ntmode
l
sa
vai
l
abl
ei
nCanada;t
heMode
lSandt
heMode
l3
(
bot
hc
oupe
s
)andt
heMode
lX(
anSUV)
.Fi
gur
e2.
12s
howsc
hange
st
oi
t
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
s
f
r
ont
i
e
ri
nr
e
s
pons
et
one
w de
ve
l
opme
nt
sanddi
ffe
r
e
nts
t
r
a
t
e
gi
cpr
oduc
t
i
onde
c
i
s
i
ons
.
122)Re
f
e
rt
oFi
g
ur
e2.
12.Suppos
ewor
ke
rpr
oduc
t
i
vi
t
yi
nc
r
e
as
e
ss
ot
ha
tt
het
ot
alnumbe
rofve
hi
c
l
e
s
pr
oduc
e
di
nc
r
e
as
e
sast
hec
ompanyaddsmor
emac
hi
ne
r
yandwor
ke
r
sandc
hange
st
hel
a
youtoft
he
f
ac
t
or
y
.Thi
si
sbe
s
tr
e
pr
e
s
e
nt
e
dbyt
he
A)move
me
ntf
r
om Et
oFi
nGr
aphA.
B)move
me
ntf
r
om Gt
oH i
nGr
aphB.
C)move
me
ntf
r
om Kt
oLi
nGr
aphC.
D)move
me
ntf
r
om Jt
oH i
nGr
aphB.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
5455
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:AnI
ns
i
deLOOK:
Toyot
aFac
e
saTr
ade
off
123)Re
f
e
rt
oFi
g
ur
e2.
12.I
nr
e
s
pons
et
oc
hangi
ngc
ons
ume
rde
mands
,Te
s
l
ac
ut
sbac
kont
hepr
oduc
t
i
on
ofc
oupe
sandi
nc
r
e
as
e
si
t
spr
oduc
t
i
onofSUVs
.Thi
ss
t
r
a
t
e
gyi
sbe
s
tr
e
pr
e
s
e
nt
e
dby
A)move
me
ntf
r
om Et
oFi
nGr
aphA.
B)move
me
ntf
r
om Gt
oH i
nGr
aphB.
C)move
me
ntf
r
om Kt
oLi
nGr
aphC.
D)move
me
ntf
r
om Jt
oH i
nGr
aphB.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
5454
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
43
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lOMoARcPSD|9882954
124)Re
f
e
rt
oFi
g
ur
e2.
12.Suppos
eTe
s
l
ahast
os
hutdownapor
t
i
onofi
t
sf
ac
i
l
i
t
yasi
twor
kson
r
e
mode
l
l
i
ngt
hef
ac
i
l
i
t
yt
ome
r
get
woofi
t
ss
e
par
a
t
eas
s
e
mbl
yl
i
ne
si
npr
e
par
a
t
i
onf
ort
hepr
oduc
t
i
onof
ane
w mode
lc
al
l
e
da"
mi
ni
bus
"
.Thepr
oduc
t
i
onde
c
i
s
i
ont
os
hutdownt
e
mpor
ar
i
l
ywi
l
lr
e
s
ul
ti
na
A)move
me
ntf
r
om Et
oFi
nGr
aphA.
B)move
me
ntf
r
om Gt
oH i
nGr
aphB.
C)move
me
ntf
r
om Kt
oLi
nGr
aphC.
D)move
me
ntf
r
om Jt
oH i
nGr
aphB.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
5455
Topi
c
:Ec
onomi
cGr
owt
h
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:AnI
ns
i
deLOOK:
Toyot
aFac
e
saTr
ade
off
125)I
ft
hepr
i
c
eofagoodors
e
r
vi
c
er
i
s
e
s
,hous
e
hol
dsha
vet
oc
hoos
ewhe
t
he
rt
obuyl
e
s
soft
ha
tgoodor
s
e
r
vi
c
eors
pe
ndl
e
s
sonot
he
rgoodsands
e
r
vi
c
e
s
.Whe
ndoc
t
or
sand/ornur
s
e
sde
mandpa
yi
nc
r
e
as
e
s
,
pr
ovi
nc
i
algove
r
nme
nt
s
A)c
utbac
kont
he
i
rt
ot
als
pe
ndi
ngonhe
al
t
hc
ar
e
.
B)i
nc
r
e
as
es
pe
ndi
ngonot
he
rpr
ogr
ams
.
C)aut
oma
t
i
c
al
l
yi
nc
r
e
as
es
al
e
st
ax
e
st
opa
yf
ort
hei
nc
r
e
as
e
ds
pe
ndi
ngonhe
al
t
hc
ar
epr
of
e
s
s
i
onal
s
.
D)mus
te
i
t
he
rc
utbac
konot
he
rpr
ogr
ams
,hi
r
ef
e
we
rdoc
t
or
sand/ornur
s
e
s
,ori
nc
r
e
as
et
axa
t
i
on.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
40
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:Fac
i
ngTr
a
de
Offsi
nHe
al
t
hCar
eSpe
ndi
ng
126)Ani
nc
r
e
as
ei
nt
heune
mpl
oyme
ntr
a
t
ema
yber
e
pr
e
s
e
nt
e
dasamove
me
ntf
r
om apoi
ntont
he
pr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oapoi
nti
ns
i
det
hef
r
ont
i
e
r
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
127)I
fac
ount
r
yi
spr
oduc
i
nge
ffic
i
e
nt
l
yandi
sont
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
,t
heonl
ywa
yt
o
pr
oduc
emor
eofonegoodi
swi
t
hanadvanc
ei
nt
e
c
hnol
ogy
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
44
Copyright © 2018 Pearson Canada, Inc.
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lOMoARcPSD|9882954
128)Cons
i
de
rac
ount
r
yt
ha
tpr
oduc
e
sonl
yt
wogoods
:pi
ne
appl
e
sandt
r
ac
t
or
s
.Suppos
ei
ti
spos
s
i
bl
e
f
ort
hi
sc
ount
r
yt
oi
nc
r
e
as
ei
t
spr
oduc
t
i
onofpi
ne
appl
e
swi
t
houtpr
oduc
i
ngf
e
we
rt
r
ac
t
or
s
.I
nt
hi
sc
as
e
,
i
t
sc
ur
r
e
ntout
putc
ombi
na
t
i
oni
si
ne
ffic
i
e
nt
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
129)Anyout
putc
ombi
na
t
i
oni
ns
i
deapr
oduc
t
i
onpos
s
i
bi
l
i
t
yf
r
ont
i
e
ri
sas
s
oc
i
a
t
e
dwi
t
hunus
e
dor
unde
r
ut
i
l
i
ze
dr
e
s
our
c
e
s
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
37
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
130)Ani
nc
r
e
as
ei
npopul
a
t
i
ons
hi
f
t
st
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
yf
r
ont
i
e
ri
nwar
dsove
rt
i
me
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
42
Topi
c
:Ec
onomi
cGr
owt
h
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
131)I
faddi
t
i
onaluni
t
sofagoodc
oul
dbepr
oduc
e
da
tac
ons
t
antoppor
t
uni
t
yc
os
t
,t
hepr
oduc
t
i
on
pos
s
i
bi
l
i
t
yf
r
ont
i
e
rwoul
dbel
i
ne
ar
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
37
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
132)Onadi
a
gr
am ofapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
,oppor
t
uni
t
yc
os
ti
sr
e
pr
e
s
e
nt
e
dbyt
hes
l
opeof
t
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
9092
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
45
Copyright © 2018 Pearson Canada, Inc.
Downloaded by goobal sahoota (s201064076@ddsbstudent.ca)
lOMoARcPSD|9882954
133)Toi
nc
r
e
as
ef
ue
le
ffic
i
e
nc
y
,aut
omobi
l
emanuf
ac
t
ur
e
r
smakec
ar
ss
mal
landl
i
ght
.Lar
gec
ar
sabs
or
b
mor
eoft
hei
mpac
tofanac
c
i
de
ntt
hans
mal
lc
ar
sbutyi
e
l
dl
owe
rf
ue
le
ffic
i
e
nc
y
.The
s
ef
ac
t
ss
ugge
s
tt
ha
t
apos
i
t
i
ver
e
l
a
t
i
ons
hi
pe
xi
s
t
sbe
t
we
e
ns
af
e
t
yandf
ue
le
ffic
i
e
nc
y
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
35
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Ec
onomi
c
si
nYourLi
f
e
:TheTr
ade
offsWhe
nYouBuyaCa
r
134)How ar
ee
ffic
i
e
nc
yandi
ne
ffic
i
e
nc
yr
e
pr
e
s
e
nt
e
donapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
?
Ans
we
r
:Effic
i
e
nc
yi
sr
e
pr
e
s
e
nt
e
dbypoi
nt
sal
ongt
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.I
ne
ffic
i
e
nc
yi
s
r
e
pr
e
s
e
nt
e
dbypoi
nt
si
ns
i
det
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Di
ff:
2 Pa
geRe
f
:
3637
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
135)Wha
tdoe
st
het
e
r
m"
i
nc
r
e
as
i
ngmar
gi
naloppor
t
uni
t
yc
os
t
"me
an?How ar
ei
nc
r
e
as
i
ngmar
gi
nal
oppor
t
uni
t
yc
os
t
sr
e
pr
e
s
e
nt
e
donabowe
doutpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
?
Ans
we
r
:I
nc
r
e
as
i
ngmar
gi
naloppor
t
uni
t
yc
os
t
sme
anst
ha
tasmor
eandmor
eofapr
oduc
ti
smade
,t
he
oppor
t
uni
t
yc
os
tofmaki
nge
ac
haddi
t
i
onaluni
tr
i
s
e
s
.The
yar
er
e
pr
e
s
e
nt
e
dbymovi
ngdownabowe
d
outpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Di
ff:
2 Pa
geRe
f
:
4041
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
46
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136)a
. Dr
a
w apr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rf
orac
ount
r
yt
ha
tpr
oduc
e
st
wogoods
,wi
neand
c
he
e
s
e
.As
s
umet
ha
tr
e
s
our
c
e
sar
enote
qual
l
ys
ui
t
e
dt
obot
ht
as
ks
.
b. De
fineoppor
t
uni
t
yc
os
t
s
.
c
. Us
eyourpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rgr
apht
ode
mons
t
r
a
t
et
hepr
i
nc
i
pl
eofoppor
t
uni
t
yc
os
t
s
.
Ans
we
r
:
a
. ThePPFi
sc
onc
a
ve(
bowe
da
wa
yf
r
om t
heor
i
gi
n)t
or
e
fle
c
tt
hef
ac
tt
ha
tr
e
s
our
c
e
sar
enote
qual
l
y
s
ui
t
e
dt
obot
ht
as
ks
.
b. Oppor
t
uni
t
yc
os
ti
sde
fine
dast
hehi
ghe
s
tval
ue
dal
t
e
r
na
t
i
vet
ha
tmus
tbef
or
gonebyt
aki
ngan
ac
t
i
on.
c
.I
nt
hePPFgr
aphi
npar
t(
a)
,s
uppos
et
hec
ount
r
yi
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntAandwi
s
he
st
o
movet
opoi
ntBs
ot
ha
ti
tc
anpr
oduc
emor
ewi
ne
.Theonl
ywa
yi
tc
anobt
ai
nmor
ewi
nei
st
ogi
veup
s
omeamountofc
he
e
s
e
.
Di
ff:
2 Pa
geRe
f
:
4041
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Anal
yt
i
cSki
l
l
s
47
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Tabl
e2.
4
Pos
s
i
bl
eOut
put
Combi
na
t
i
ons
A
B
C
D
E
F
G
H
Cas
hews
(
t
hous
andsof
ki
l
ogr
ams
)
35
30
25
20
15
10
5
0
Al
monds
(
t
hous
andsof
ki
l
ogr
ams
)
0
20
35
47
57
64
68
70
137)Re
f
e
rt
oTabl
e2.
4.TheNutHous
epr
oduc
e
sonl
yc
as
he
wsandal
monds
.Thet
abl
eaboves
howst
he
maxi
mum pos
s
i
bl
eout
putc
ombi
na
t
i
onsoft
het
wonut
sus
i
ngal
lr
e
s
our
c
e
sandc
ur
r
e
nt
l
ya
vai
l
abl
e
t
e
c
hnol
ogy
.
a
. Gr
aphTheNutHous
e
'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.Putal
mondsont
hehor
i
z
ont
alaxi
sand
c
as
he
wsont
heve
r
t
i
c
alaxi
s
.Bes
ur
et
oi
de
nt
i
f
yt
heout
putc
ombi
na
t
i
onpoi
nt
sonyourdi
a
gr
am.
b. Suppos
eTheNutHous
ei
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntC.Wha
ti
st
heoppor
t
uni
t
yc
os
tof
pr
oduc
i
nganaddi
t
i
onal12,
000ki
l
ogr
amsofal
monds
?
c
. Suppos
eTheNutHous
ei
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntC.Wha
thappe
nst
ot
heoppor
t
uni
t
yc
os
tof
pr
oduc
i
ngmor
eandmor
eal
monds
?Doe
si
ti
nc
r
e
as
e
,de
c
r
e
as
e
,orr
e
mai
nc
ons
t
ant
?Expl
ai
nyour
ans
we
r
.
d. Suppos
eTheNutHous
ei
sc
ur
r
e
nt
l
ypr
oduc
i
nga
tpoi
ntF.Wha
thappe
nst
ot
heoppor
t
uni
t
yc
os
tof
pr
oduc
i
ngmor
eandmor
ec
as
he
ws
?Doe
si
ti
nc
r
e
as
e
,de
c
r
e
as
e
,orr
e
mai
nc
ons
t
ant
?Expl
ai
nyourans
we
r
.
e
. Suppos
eTheNutHous
ei
spl
a
gue
dbyavar
i
e
t
yofwhi
t
er
oot
r
otdi
s
e
as
e
,whi
c
hde
s
t
r
oysc
as
he
w
t
r
e
e
sbutnotal
mondt
r
e
e
s
.Show i
nagr
aphwha
thappe
nst
oi
t
sPPF.
48
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Ans
we
r
:
a
.
b. 5,
000ki
l
ogr
amsofc
as
he
ws
c
. I
ti
nc
r
e
as
e
s
.Fore
xampl
et
omovet
oD,TheNutHous
ehast
ogi
veup5,
000ki
l
ogr
amsofc
as
he
wst
o
pr
oduc
eanaddi
t
i
onal10,
000ki
l
ogr
amsofal
monds
.Fore
ac
haddi
t
i
onal5,
000ki
l
ogr
amsofc
as
he
ws
f
or
e
gone
,t
hepa
yoffi
nt
e
r
msofal
mondsge
t
spr
ogr
e
s
s
i
ve
l
ys
mal
l
e
r
.
d. I
ti
nc
r
e
as
e
s
.Eac
ht
i
mei
twant
st
opr
oduc
eanaddi
t
i
onal5,
000ki
l
ogr
amsofc
as
he
ws
,mor
eandmor
e
al
mondsmus
tbegi
ve
nup.
e
.
Di
ff:
3 Pa
geRe
f
:
3839
Topi
c
:Pr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
r
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Dr
a
wi
ngaPr
oduc
t
i
onPos
s
i
bi
l
i
t
i
e
sFr
ont
i
e
rf
orPa
t
'
sPi
zzaPi
t
2.2 Understand comparative advantage and explain how it is the basis for trade
49
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1)Youha
veanabs
ol
ut
eadvant
a
gewhe
ne
ve
ryou
A)ar
ebe
t
t
e
re
duc
a
t
e
dt
hans
ome
onee
l
s
e
.
B)c
anpr
oduc
emor
eofs
ome
t
hi
ngt
hanot
he
r
swi
t
ht
hes
amer
e
s
our
c
e
s
.
C)pr
e
f
e
rt
odoonepar
t
i
c
ul
ara
c
t
i
vi
t
y
.
D)c
anpr
oduc
es
ome
t
hi
nga
tal
owe
roppor
t
uni
t
yc
os
tt
hanot
he
r
s
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4445
Topi
c
:Abs
ol
ut
eAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Tabl
e2.
5
Br
ac
e
l
e
t
s
Ne
c
kl
ac
e
s
Ser
ena
8
16
Hal
e
y
9
12
Tabl
e2.
5s
howst
heout
putpe
rwe
e
koft
woj
e
we
l
e
r
s
,Se
r
e
naandHal
e
y
.The
yc
ane
i
t
he
rde
vot
et
he
i
r
t
i
met
omaki
ngbr
a
c
e
l
e
t
sormaki
ngne
c
kl
ac
e
s
.
2)Re
f
e
rt
oTabl
e2.
5.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)Hal
e
yhasanabs
ol
ut
eadvant
a
gei
nmaki
ngbot
hpr
oduc
t
s
.
B)Se
r
e
nahasanabs
ol
ut
eadvant
a
gei
nmaki
ngbot
hpr
oduc
t
s
.
C)Hal
e
yhasanabs
ol
ut
eadvant
a
gei
nmaki
ngbr
ac
e
l
e
t
sandSe
r
e
nai
nmaki
ngne
c
kl
ac
e
s
.
D)Hal
e
yhasanabs
ol
ut
eadvant
a
gei
nmaki
ngne
c
kl
a
c
e
sandSe
r
e
nai
nmaki
ngbr
a
c
e
l
e
t
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
4445
Topi
c
:Abs
ol
ut
eAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
3)Re
f
e
rt
oTabl
e2.
5.Wha
ti
sHal
e
y'
soppor
t
uni
t
yc
os
tofmaki
ngabr
ac
e
l
e
t
?
A)3/4ofabr
a
c
e
l
e
t
B)3br
a
c
e
l
e
t
s
C)11
/3ne
c
kl
ac
e
s
D)2ne
c
kl
ac
e
s
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
50
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4)Re
f
e
rt
oTabl
e2.
5.Wha
ti
sHal
e
y'
soppor
t
uni
t
yc
os
tofmaki
ngane
c
kl
a
c
e
?
A)3/4ofabr
a
c
e
l
e
t
B)3br
a
c
e
l
e
t
s
C)11
/3ne
c
kl
ac
e
s
D)2ne
c
kl
ac
e
s
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
5)Re
f
e
rt
oTabl
e2.
5.Wha
ti
sSe
r
e
na'
soppor
t
uni
t
yc
os
tofmaki
ngabr
a
c
e
l
e
t
?
A)2ne
c
kl
ac
e
s
B)1
/2ofabr
ac
e
l
e
t
C)1
/2ofane
c
kl
ac
e
D)3/4ofabr
a
c
e
l
e
t
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
6)Re
f
e
rt
oTabl
e2.
5.Wha
ti
sSe
r
e
na'
soppor
t
uni
t
yc
os
tofmaki
ngane
c
kl
ac
e
?
A)2ne
c
kl
ac
e
s
B)1
/2ofabr
ac
e
l
e
t
C)1
/2ofane
c
kl
ac
e
D)3/4ofabr
a
c
e
l
e
t
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
7)Re
f
e
rt
oTabl
e2.
5.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)Hal
e
yhasac
ompar
a
t
i
veadvant
a
gei
nmaki
ngbot
hpr
oduc
t
s
.
B)Se
r
e
nahasac
ompar
a
t
i
veadvant
a
gei
nmaki
ngbot
hpr
oduc
t
s
.
C)Hal
e
yhasac
ompar
a
t
i
veadvant
a
gei
nmaki
ngbr
a
c
e
l
e
t
sandSe
r
e
nai
nmaki
ngne
c
kl
ac
e
s
.
D)Hal
e
yhasac
ompar
a
t
i
veadvant
a
gei
nmaki
ngne
c
kl
ac
e
sandSe
r
e
nai
nmaki
ngbr
ac
e
l
e
t
s
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
51
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8)Compar
a
t
i
veadvant
a
geme
anst
heabi
l
i
t
yt
opr
oduc
eagoodors
e
r
vi
c
e
A)a
tal
owe
rs
e
l
l
i
ngpr
i
c
et
hananyot
he
rpr
oduc
e
r
.
B)a
tal
owe
roppor
t
uni
t
yc
os
tt
hananyot
he
rpr
oduc
e
r
.
C)ofahi
ghe
rqual
i
t
yt
hananyot
he
rpr
oduc
e
r
.
D)a
tahi
ghe
rpr
ofitl
e
ve
lt
hananyot
he
rpr
oduc
e
r
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
9)Spe
c
i
al
i
zi
ngi
nt
hepr
oduc
t
i
onofagoodors
e
r
vi
c
ei
nwhi
c
honehasac
ompar
a
t
i
veadvant
a
gee
nabl
e
s
ac
ount
r
yt
odoal
loft
hef
ol
l
owi
nge
x
c
e
p
t
A)e
nga
gei
nmut
ual
l
ybe
ne
fic
i
alt
r
adewi
t
hot
he
rna
t
i
ons
.
B)i
nc
r
e
as
et
hevar
i
e
t
yofpr
oduc
t
st
ha
ti
tc
anc
ons
umewi
t
hnoi
nc
r
e
as
ei
nr
e
s
our
c
e
s
.
C)c
ons
umeac
ombi
na
t
i
onofgoodst
ha
tl
i
e
sout
s
i
dei
t
sownpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)pr
oduc
eac
ombi
na
t
i
onofgoodst
ha
tl
i
e
sout
s
i
dei
t
sownpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
Ans
we
r
:D
Di
ff:
3 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
10)Fore
ac
hbot
t
l
eofwi
net
ha
tI
t
a
l
ypr
oduc
e
s
,i
tgi
ve
supt
heoppor
t
uni
t
yt
omake10poundsofc
he
e
s
e
.
Fr
anc
ec
anpr
oduc
e1bot
t
l
eofwi
nef
ore
ve
r
y25poundsofc
he
e
s
ei
tpr
oduc
e
s
.Whi
c
hoft
hef
ol
l
owi
ngi
s
t
r
ueaboutt
hec
ompar
a
t
i
veadvant
a
gebe
t
we
e
nt
het
woc
ount
r
i
e
s
?
A)I
t
a
l
yhast
hec
ompar
a
t
i
veadvant
a
gei
nc
he
e
s
e
.
B)I
t
al
yhast
hec
ompar
a
t
i
veadvant
a
gei
nwi
ne
.
C)Fr
anc
ehast
hec
ompar
a
t
i
veadvant
a
gei
nwi
neandc
he
e
s
e
.
D)Fr
anc
ehast
hec
ompar
a
t
i
veadvant
a
gei
nwi
ne
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
52
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Fi
gur
e2.
13
Fi
gur
e2.
13s
howst
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
sf
orPaki
s
t
anandI
ndone
s
i
a
.Eac
hc
ount
r
y
pr
oduc
e
st
wogoods
,c
ot
t
onandc
as
he
ws
.
11)Re
f
e
rt
oFi
g
ur
e2.
13.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1bol
tofc
ot
t
oni
nPaki
s
t
an?
A)3/8ofapoundofc
as
he
ws
B)5
/8ofapoundofc
as
he
ws
C)13
/5poundsofc
as
he
ws
D)150poundsofc
as
he
ws
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
12)Re
f
e
rt
oFi
g
ur
e2.
13.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1bol
tofc
ot
t
oni
nI
ndone
s
i
a?
A)3/8ofapoundofc
as
he
ws
B)5
/8ofapoundofc
as
he
ws
C)22
/3poundsofc
as
he
ws
D)120poundsofc
as
he
ws
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
13)Re
f
e
rt
oFi
g
ur
e2.
13.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1poundofc
as
he
wsi
nPaki
s
t
an?
A)3/8ofabol
tofc
ot
t
on
B)5
/8ofabol
tofc
ot
t
on
C)13
/5bol
t
sofc
ot
t
on
D)240bol
t
sofc
ot
t
on
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
14)Re
f
e
rt
oFi
g
ur
e2.
13.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1poundofc
as
he
wsi
nI
ndone
s
i
a?
A)3/8ofabol
tofc
ot
t
on
B)5
/8ofabol
tofc
ot
t
on
C)22
/3bol
t
sofc
ot
t
on
D)320bol
t
sofc
ot
t
on
53
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Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
15)Re
f
e
rt
oFi
g
ur
e2.
13.Whi
c
hc
ount
r
yhasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofc
ot
t
on?
A)I
ndone
s
i
a
B)The
yha
vee
qualpr
oduc
t
i
veabi
l
i
t
i
e
s
.
C)Paki
s
t
an
D)ne
i
t
he
rc
ount
r
y
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
16)Re
f
e
rt
oFi
g
ur
e2.
13.Whi
c
hc
ount
r
yhasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofc
as
he
ws
?
A)I
ndone
s
i
a
B)The
yha
vee
qualpr
oduc
t
i
veabi
l
i
t
i
e
s
.
C)Paki
s
t
an
D)ne
i
t
he
rc
ount
r
y
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
17)Re
f
e
rt
oFi
g
ur
e2.
13.I
ft
het
woc
ount
r
i
e
sha
vet
hes
ameamountofr
e
s
our
c
e
sandt
hes
ame
t
e
c
hnol
ogi
c
alknowl
e
dge
,whi
c
hc
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofc
ot
t
on?
A)I
ndone
s
i
a
B)The
yha
vet
hes
ameadvant
a
ge
.
C)Paki
s
t
an
D)c
annotbede
t
e
r
mi
ne
d
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Abs
ol
ut
eAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
54
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18)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)I
ndi
vi
dual
swhoha
vene
ve
rbe
e
nt
hebe
s
ta
tdoi
nganyt
hi
ngc
annotha
veac
ompar
a
t
i
veadvant
a
gei
n
pr
oduc
i
nganypr
oduc
t
.
B)I
ndi
vi
dual
swhoha
vene
ve
rbe
e
nt
hebe
s
ta
tdoi
nganyt
hi
ngc
ans
t
i
l
lha
veac
ompar
a
t
i
veadvant
a
gei
n
pr
oduc
i
ngs
omepr
oduc
t
.
C)I
ndi
vi
dual
swhoha
vene
ve
rbe
e
nt
hebe
s
ta
tdoi
nganyt
hi
ngpe
r
f
or
m al
lt
as
ksa
tahi
ghe
roppor
t
uni
t
y
c
os
tt
hanot
he
r
s
.
D)I
ndi
vi
dual
swhoha
vene
ve
rbe
e
nt
hebe
s
ta
tdoi
nganyt
hi
ngmus
tha
veanabs
ol
ut
eadvant
a
gei
na
t
l
e
as
tone
st
as
k.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Tabl
e2.
6
Chi
na
Sout
hKor
e
a
OneDi
gi
t
al
Camer
a
100hour
s
60hour
s
Whe
a
t(
perpound)
4hour
s
3hour
s
Tabl
e2.
6s
howst
henumbe
rofl
abourhour
sr
e
qui
r
e
dt
opr
oduc
eadi
gi
t
alc
ame
r
aandapoundofwhe
a
t
i
nChi
naandSout
hKor
e
a
.
19)Re
f
e
rt
oTabl
e2.
6.Doe
se
i
t
he
rChi
naorSout
hKor
e
aha
veanabs
ol
ut
eadvant
a
geandi
fs
o,i
nwha
t
pr
oduc
t
?
A)Sout
hKor
e
ahasanabs
ol
ut
eadvant
a
gei
nwhe
a
t
.
B)Chi
nahasanabs
ol
ut
eadvant
a
gei
nwhe
a
t
.
C)Sout
hKor
e
ahasanabs
ol
ut
eadvant
a
gei
nbot
hpr
oduc
t
s
.
D)Chi
nahasanabs
ol
ut
eadvant
a
gei
ndi
gi
t
alc
ame
r
as
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
4647
Topi
c
:Abs
ol
ut
eAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
20)Re
f
e
rt
oTabl
e2.
6.Wha
ti
sChi
na'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonedi
gi
t
alc
ame
r
a?
A)0.
04poundsofwhe
a
t
B)4poundsofwhe
a
t
C)25poundsofwhe
a
t
D)40poundsofwhe
a
t
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
55
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21)Re
f
e
rt
oTabl
e2.
6.Wha
ti
sSout
hKor
e
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonedi
gi
t
alc
ame
r
a?
A)0.
05poundsofwhe
a
t
B)20poundsofwhe
a
t
C)25poundsofwhe
a
t
D)60poundsofwhe
a
t
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
22)Re
f
e
rt
oTabl
e2.
6.Wha
ti
sChi
na'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonepoundofwhe
a
t
?
A)0.
04uni
t
sofadi
gi
t
alc
ame
r
a
B)4di
gi
t
alc
ame
r
as
C)25di
gi
t
alc
ame
r
as
D)40di
gi
t
alc
ame
r
as
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
23)Re
f
e
rt
oTabl
e2.
6.Wha
ti
sSout
hKor
e
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonepoundofwhe
a
t
?
A)60di
gi
t
alc
ame
r
as
B)20di
gi
t
alc
ame
r
as
C)5di
gi
t
alc
ame
r
as
D)0.
05uni
t
sofadi
gi
t
alc
ame
r
a
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
24)Re
f
e
rt
oTabl
e2.
6.Chi
nahasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onof
A)whe
a
t
.
B)di
gi
t
alc
ame
r
as
.
C)bot
hpr
oduc
t
s
.
D)ne
i
t
he
rpr
oduc
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
56
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25)Re
f
e
rt
oTabl
e2.
6.Sout
hKor
e
ahasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onof
A)whe
a
t
.
B)di
gi
t
alc
ame
r
as
.
C)bot
hpr
oduc
t
s
.
D)ne
i
t
he
rpr
oduc
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
26)Re
f
e
rt
oTabl
e2.
6.I
ft
het
woc
ount
r
i
e
ss
pe
c
i
al
i
zeandt
r
ade
,whos
houl
de
xpor
twhe
a
t
?
A)The
r
ei
snobas
i
sf
ort
r
adebe
t
we
e
nt
het
woc
ount
r
i
e
s
.
B)Chi
na
C)Sout
hKor
e
a
D)The
ys
houl
dbot
hbee
xpor
t
i
ngwhe
a
t
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4647
Topi
c
:Spe
c
i
al
i
za
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
27)Re
f
e
rt
oTabl
e2.
6.I
ft
het
woc
ount
r
i
e
ss
pe
c
i
al
i
zeandt
r
ade
,whos
houl
de
xpor
tdi
gi
t
alc
ame
r
as
?
A)The
r
ei
snobas
i
sf
ort
r
adebe
t
we
e
nt
het
woc
ount
r
i
e
s
.
B)Chi
na
C)Sout
hKor
e
a
D)The
ys
houl
dbot
hbei
mpor
t
i
ngdi
gi
t
alc
ame
r
as
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
4647
Topi
c
:Spe
c
i
al
i
za
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
28)I
ft
hebe
s
ts
ur
ge
oni
nt
owni
sal
s
ot
hebe
s
ta
tc
l
e
ani
ngs
wi
mmi
ngpool
s
,t
he
nac
c
or
di
ngt
oe
c
onomi
c
r
e
as
oni
ng,t
hi
spe
r
s
ons
houl
d
A)pur
s
uet
hea
c
t
i
vi
t
yhee
nj
oysmor
e
.
B)s
pe
c
i
al
i
zei
nc
l
e
ani
ngs
wi
mmi
ngpool
sbe
c
aus
ei
ti
smor
el
abour
i
nt
e
ns
i
ve
.
C)s
pl
i
thi
st
i
mee
ve
nl
ybe
t
we
e
nbe
i
ngas
ur
ge
onandc
l
e
ani
ngs
wi
mmi
ngpool
s
.
D)s
pe
c
i
al
i
zei
nbe
i
ngas
ur
ge
onbe
c
aus
ei
t
soppor
t
uni
t
yc
os
ti
sl
owe
r
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
43
Topi
c
:Spe
c
i
al
i
za
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
57
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29)Cr
ys
t
alSc
hi
c
ki
sahi
ghl
yt
al
e
nt
e
dphot
ogr
aphe
r
.Shehasc
hos
e
nt
os
pe
c
i
al
i
zei
nphot
ogr
aphy
be
c
aus
eofal
loft
hef
ol
l
owi
nge
x
c
e
p
t
A)s
heobvi
ous
l
yhasac
ompar
a
t
i
veadvant
a
gei
nphot
ogr
aphy
.
B)he
roppor
t
uni
t
yc
os
tofpur
s
ui
nganot
he
rc
ar
e
e
ri
sve
r
yl
ow.
C)f
orhe
r
,t
hi
si
st
hemos
tl
uc
r
a
t
i
vewa
yt
opur
c
has
et
hepr
oduc
t
st
ha
ts
hewant
st
oc
ons
ume
.
D)he
rphot
ogr
aphsar
ehi
ghl
ye
s
t
e
e
me
dbyar
tl
ove
r
swhoar
ewi
l
l
i
ngt
opa
yve
r
yhi
ghpr
i
c
e
s
.
Ans
we
r
:B
Di
ff:
3 Pa
geRe
f
:
43
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
30)I
fSanj
a
yac
ans
huc
kmor
eoys
t
e
r
si
nonehourt
hanTa
t
i
ana
,t
he
nSanj
a
yahasac
ompar
a
t
i
ve
advant
a
gei
ns
huc
ki
ngoys
t
e
r
s
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Abs
ol
ut
eAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
31)Thebas
i
sf
ort
r
adei
sc
ompar
a
t
i
veadvant
a
ge
,notabs
ol
ut
eadvant
a
ge
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
32)I
fac
ount
r
ypr
oduc
e
sonl
yt
wogoods
,i
ti
spos
s
i
bl
et
oha
veac
ompar
a
t
i
veadvant
a
gei
nt
he
pr
oduc
t
i
onofbot
ht
hos
egoods
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
33)I
nat
wogood,t
woc
ount
r
ywor
l
d,i
fonec
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onof
bot
hgoods
,i
tc
annotbe
ne
fitbyt
r
adi
ngwi
t
ht
heot
he
rc
ount
r
y
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Abs
ol
ut
eAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
34)Forape
r
s
ont
oha
veac
ompar
a
t
i
veadvant
a
gei
npr
oduc
i
ngapr
oduc
t
,s
hemus
tbeabl
et
opr
oduc
e
t
ha
tpr
oduc
ta
tal
owe
roppor
t
uni
t
yc
os
tt
hanhe
rc
ompe
t
i
t
or
s
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
35)I
ti
spos
s
i
bl
et
oha
veac
ompar
a
t
i
veadvant
a
gei
npr
oduc
i
ngagoodors
e
r
vi
c
ewi
t
houtha
vi
ngan
abs
ol
ut
eadvant
a
ge
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
58
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AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Don'
tLe
tThi
sHappe
nt
oYou:Don'
tConf
us
eAbs
ol
ut
eAdvant
a
geandCompar
a
t
i
veAdvant
a
ge
36)Wha
ti
sc
ompar
a
t
i
veadvant
a
ge
?Wha
ti
sabs
ol
ut
eadvant
a
ge
?
Ans
we
r
:Compar
a
t
i
veadvant
a
gei
st
heabi
l
i
t
yofani
ndi
vi
dual
,fir
m,orc
ount
r
yt
opr
oduc
eagoodor
s
e
r
vi
c
ea
tal
owe
roppor
t
uni
t
yc
os
tt
hanc
ompe
t
i
t
or
s
.Abs
ol
ut
eadvant
a
gei
st
heabi
l
i
t
yofani
ndi
vi
dual
,
fir
m,orc
ount
r
yt
opr
oduc
emor
eofagoodors
e
r
vi
c
et
hanc
ompe
t
i
t
or
s
,us
i
ngt
hes
ameamountof
r
e
s
our
c
e
s
.
Di
ff:
1 Pa
geRe
f
:
45
Topi
c
:Compar
a
t
i
veAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
37)I
si
tpos
s
i
bl
ef
orafir
mt
oha
veanabs
ol
ut
eadvant
a
gei
npr
oduc
i
ngs
ome
t
hi
ngwi
t
houtha
vi
nga
c
ompar
a
t
i
veadvant
a
ge
?Whyorwhynot
?
Ans
we
r
:Ye
s
,afir
mc
anha
veanabs
ol
ut
eadvant
a
gewi
t
houtha
vi
ngac
ompar
a
t
i
veadvant
a
ge
.Afir
m
ma
ybeabl
et
opr
oduc
emor
eofagoodors
e
r
vi
c
et
hani
t
sc
ompe
t
i
t
or
s
,butt
ha
tdoe
snotne
c
e
s
s
ar
i
l
y
me
ani
tc
anpr
oduc
et
hegoodors
e
r
vi
c
ea
tal
owe
roppor
t
uni
t
yc
os
tt
hani
t
sc
ompe
t
i
t
or
s
.
Di
ff:
2 Pa
geRe
f
:
45
Topi
c
:Abs
ol
ut
eAdvant
a
ge
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
59
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Tabl
e2.
7
Chi
na
Sout
hKor
e
a
Di
gi
t
alCamer
a
100hour
s
90hour
s
Whe
a
t(
bus
he
l
s
)
5hour
s
3hour
s
38)Re
f
e
rt
oTabl
e2.
7.Thi
st
abl
es
howst
henumbe
rofl
abourhour
sr
e
qui
r
e
dt
opr
oduc
eadi
gi
t
al
c
ame
r
asandabus
he
lofwhe
a
ti
nChi
naandSout
hKor
e
a
.
a
. Whi
c
hc
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofdi
gi
t
alc
ame
r
as
?
b. Whi
c
hc
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofwhe
a
t
?
c
. Wha
ti
sChi
na'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonedi
gi
t
alc
ame
r
a?
d. Wha
ti
sSout
hKor
e
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonedi
gi
t
alc
ame
r
a?
e
. Wha
ti
sChi
na'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonebus
he
lofwhe
a
t
?
f
. Wha
ti
sSout
hKor
e
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonebus
he
lofwhe
a
t
?
g. I
fe
ac
hc
ount
r
ys
pe
c
i
al
i
ze
si
nt
hepr
oduc
t
i
onoft
hepr
oduc
ti
nwhi
c
hi
thasac
ompar
a
t
i
veadvant
a
ge
,
whos
houl
dpr
oduc
edi
gi
t
alc
ame
r
as
?
h. I
fe
ac
hc
ount
r
ys
pe
c
i
al
i
ze
si
nt
hepr
oduc
t
i
onoft
hepr
oduc
ti
nwhi
c
hi
thasac
ompar
a
t
i
veadvant
a
ge
,
whos
houl
dpr
oduc
ewhe
a
t
?
Ans
we
r
:
a
. Sout
hKor
e
ahasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofdi
gi
t
alc
ame
r
as
.
b. Sout
hKor
e
ahasanabs
ol
ut
eadvant
a
gei
nwhe
a
tpr
oduc
t
i
on.
c
. Chi
na'
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ngonedi
gi
t
alc
ame
r
ai
s20bus
he
l
sofwhe
a
t
.
d. Sout
hKor
e
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonedi
gi
t
alc
ame
r
ai
s30bus
he
l
sofwhe
a
t
.
e
. Chi
na'
soppor
t
uni
t
yc
os
tofonebus
he
lofwhe
a
ti
s0.
05uni
t
sofadi
gi
t
alc
ame
r
a
.
f
. Sout
hKor
e
a'
soppor
t
uni
t
yc
os
tofonebus
he
lofwhe
a
ti
s0.
03uni
t
sofadi
gi
t
alc
ame
r
a
.
g. Chi
nas
houl
ds
pe
c
i
al
i
zei
npr
oduc
i
ngdi
gi
t
alc
ame
r
as
.
h. Sout
hKor
e
as
houl
ds
pe
c
i
al
i
zei
npr
oduc
i
ngwhe
a
t
.
Di
ff:
3 Pa
geRe
f
:
4345
Topi
c
:Spe
c
i
al
i
za
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
60
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39)Re
f
e
rt
oTabl
e2.
7.Thi
st
abl
es
howst
henumbe
rofl
abourhour
sr
e
qui
r
e
dt
opr
oduc
eadi
gi
t
alc
ame
r
a
andabus
he
lofwhe
a
ti
nChi
naandSout
hKor
e
a
.
a
.I
fe
ac
hc
ount
r
yhasat
ot
alof9000l
abourhour
st
ode
vot
et
ot
hepr
oduc
t
i
onoft
het
wogoods
,dr
a
w
t
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rf
ore
ac
hc
ount
r
y
.Put"
Di
gi
t
alCame
r
a"ont
hehor
i
z
ont
alaxi
sand
"
Whe
a
t
"ont
heve
r
t
i
c
alaxi
s
.Bes
ur
et
oi
de
nt
i
f
yt
hei
nt
e
r
c
e
ptval
ue
sonyourgr
aphs
.
b. Suppos
ee
ac
hc
ount
r
yal
l
oc
a
t
e
s60% i
t
sl
abourhour
st
owhe
a
tpr
oduc
t
i
onand40% t
ot
hepr
oduc
t
i
on
ofdi
gi
t
alc
ame
r
as
.Compl
e
t
eTabl
e2.
8be
l
ow t
os
how e
ac
hc
ount
r
y'
sout
putoft
het
wopr
oduc
t
s
.
Tabl
e2.
8:Pr
oduc
t
i
onandCons
umpt
i
onwi
t
hnoTr
ade
Di
gi
t
alCamer
a Whe
a
tOut
put
Out
put
(
bus
he
l
s
)
Chi
na
Sout
hKor
e
a
Tot
al
c
.I
ft
het
woc
ount
r
i
e
sdonott
r
adeandc
ons
umewha
t
e
ve
rt
he
ypr
oduc
e
,i
de
nt
i
f
yt
hec
ur
r
e
nt
pr
oduc
t
i
onandc
ons
umpt
i
onpoi
ntf
ore
ac
hc
ount
r
yont
he
i
rr
e
s
pe
c
t
i
vepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
s
f
r
ont
i
e
r
s
.Labe
lChi
na'
sc
ons
umpt
i
onpoi
nt"
C"andSout
hKor
e
a'
sc
ons
umpt
i
onpoi
nt"
K.
"
d. Suppos
et
het
woc
ount
r
i
e
ss
pe
c
i
al
i
zeandt
r
ade
.Whos
houl
dpr
oduc
edi
gi
t
alc
ame
r
asandwho
s
houl
dpr
oduc
ewhe
a
t
?Expl
ai
nyourans
we
r
.
e
. Compl
e
t
eTabl
e2.
9be
l
ow t
os
how e
ac
hc
ount
r
y'
sout
putwi
t
hs
pe
c
i
al
i
za
t
i
on.
Tabl
e2.
9:Out
putwi
t
hSpe
c
i
al
i
za
t
i
on
Di
gi
t
alCamer
a Whe
a
tOut
put
Out
put
(
bus
he
l
s
)
Chi
na
Sout
hKor
e
a
Tot
al
f
. Di
ds
pe
c
i
al
i
za
t
i
oni
nc
r
e
as
et
hec
ombi
ne
dout
putf
ort
het
woc
ount
r
i
e
swi
t
houtanyi
nc
r
e
as
ei
n
r
e
s
our
c
e
s
?I
fs
o,byhow muc
h?
g. Suppos
eChi
naandSout
hKor
e
aa
gr
e
et
ot
r
ades
ot
ha
ti
ne
x
c
hangef
or1,
200bus
he
l
sofwhe
a
t
,t
he
e
xpor
t
e
rofwhe
a
tr
e
c
e
i
ve
s48di
gi
t
alc
ame
r
as
.Compl
e
t
eTabl
e2.
10be
l
ow t
os
how e
ac
hc
ount
r
y'
s
c
ons
umpt
i
onbundl
eaf
t
e
rt
r
ade
.
Tabl
e2.
10:Cons
umpt
i
onwi
t
hTr
ade
Di
gi
t
alCamer
a Whe
a
t(
bus
he
l
s
)
Chi
na
Sout
hKor
e
a
h. Show t
hec
ons
umpt
i
onpoi
nt
sa
f
t
e
rt
r
adeone
ac
hc
ount
r
y'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.Labe
l
t
he
s
epoi
nt
s"
B"f
orChi
naand"
J
"f
orSout
hKor
e
a
.
i
. Hast
r
ademadet
het
woc
ount
r
i
e
sbe
t
t
e
roff?Expl
ai
nyourans
we
r
.
61
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Ans
we
r
:
a
.
b.
Tabl
e2.
8:Pr
oduc
t
i
onandCons
umpt
i
onwi
t
hnoTr
ade
Di
gi
t
alCamer
a Whe
a
tOut
put
Out
put
(
bus
he
l
s
)
Chi
na
36
1,
080
Sout
hKor
e
a
40
1,
800
Tot
al
76
2,
880
c
. Se
egr
aphi
npar
t(
a)
d. Chi
nas
houl
ds
pe
c
i
al
i
zei
npr
oduc
i
ngdi
gi
t
alc
ame
r
asbe
c
aus
ei
thasal
owe
roppor
t
uni
t
yc
os
t
:20
bus
he
l
sofwhe
a
tasoppos
e
dt
oSout
hKor
e
a'
s30bus
he
l
sofwhe
a
t
.Sout
hKor
e
as
houl
ds
pe
c
i
al
i
zei
n
pr
oduc
i
ngwhe
a
tbe
c
aus
ei
thasal
owe
roppor
t
uni
t
yc
os
t
:0.
03uni
t
sofadi
gi
t
alc
ame
r
aasoppos
e
dt
o
Chi
na'
s0.
05uni
t
sofadi
gi
t
alc
ame
r
a
.
e
.
Tabl
e2.
9:Out
putwi
t
hSpe
c
i
al
i
zat
i
on
Di
gi
t
alCamer
a Whe
a
tOut
put
Out
put
(
bus
he
l
s
)
Chi
na
90
0
Sout
hKor
e
a
0
3,
000
Tot
al
90
3,
000
f
. Ye
s
,di
gi
t
alc
ame
r
aout
puti
nc
r
e
as
e
dby14uni
t
s(
f
r
om 76uni
t
st
o90uni
t
s
)andwhe
a
tout
put
i
nc
r
e
as
e
dby120bus
he
l
s(
f
r
om 2,
880bus
he
l
st
o3,
0
00bus
he
l
s
)
.
g.
Tabl
e2.
10:Cons
umpt
i
onwi
t
hTr
ade
Di
gi
t
alCamer
a Whe
a
t(
bus
he
l
s
)
Chi
na
42
1,
200
Sout
hKor
e
a
48
1,
800
h. Se
egr
aphi
npar
t(
a)
i
. Ye
s
,t
r
adehase
nabl
e
dt
het
woc
ount
r
i
e
st
oc
ons
umeout
s
i
det
he
i
rPPFs
.
Di
ff:
3 Pa
geRe
f
:
4647
Topi
c
:Spe
c
i
al
i
za
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
62
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AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
40)I
fyouc
anpr
oduc
emor
eofs
ome
t
hi
ngt
hanot
he
r
swhoha
vet
hes
amer
e
s
our
c
e
s
,youha
ve
A)ac
ompar
a
t
i
veadvant
a
ge
.
B)anabs
ol
ut
eadvant
a
ge
.
C)ane
ffic
i
e
ntpr
oduc
t
i
ons
ys
t
e
m.
D)af
r
e
e
mar
ke
te
c
onomy
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4445
Topi
c
:Abs
ol
ut
eAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Tabl
e2.
11
La
wns
Mowe
d
Gar
de
ns
Cul
t
i
va
t
e
d
Ge
or
ge
J
ac
k
10
6
5
4
Tabl
e2.
11s
howst
heout
putpe
rda
yoft
wogar
de
ne
r
s
,Ge
or
geandJ
ac
k.The
yc
ane
i
t
he
rde
vot
et
he
i
r
t
i
met
omowi
ngl
a
wnsorc
ul
t
i
va
t
i
nggar
de
ns
.
41)Re
f
e
rt
oTabl
e2.
11.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)J
ac
khasanabs
ol
ut
eadvant
a
gei
nbot
ht
as
ks
.
B)Ge
or
gehasanabs
ol
ut
eadvant
a
gei
nbot
ht
as
ks
.
C)J
ac
khasanabs
ol
ut
eadvant
a
gei
nl
a
wnmowi
ngandGe
or
gei
ngar
de
nc
ul
t
i
va
t
i
ng.
D)J
ac
khasanabs
ol
ut
eadvant
a
gei
ngar
de
nc
ul
t
i
va
t
i
ngandGe
or
gei
nl
a
wnmowi
ng.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4445
Topi
c
:Abs
ol
ut
eAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
63
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42)Re
f
e
rt
oTabl
e2.
11.Wha
ti
sJ
ac
k'
soppor
t
uni
t
yc
os
tofmowi
ngal
a
wn?
A)hal
fagar
de
nc
ul
t
i
va
t
e
d
B)t
wol
a
wnsmowe
d
C)t
wot
hi
r
dsofagar
de
nc
ul
t
i
va
t
e
d
D)oneandahal
fl
a
wnsmowe
d
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
43)Re
f
e
rt
oTabl
e2.
11.Wha
ti
sJ
ac
k'
soppor
t
uni
t
yc
os
tofc
ul
t
i
va
t
i
ngaga
r
de
n?
A)hal
fagar
de
nc
ul
t
i
va
t
e
d
B)t
wol
a
wnsmowe
d
C)t
wot
hi
r
dsofagar
de
nc
ul
t
i
va
t
e
d
D)oneandahal
fl
a
wnsmowe
d
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
44)Re
f
e
rt
oTabl
e2.
11.Wha
ti
sGe
or
ge
'
soppor
t
uni
t
yc
os
tofmowi
ngal
a
wn?
A)hal
fagar
de
nc
ul
t
i
va
t
e
d
B)t
wol
a
wnsmowe
d
C)t
wot
hi
r
dsofagar
de
nc
ul
t
i
va
t
e
d
D)oneandahal
fl
a
wnsmowe
d
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
45)Re
f
e
rt
oTabl
e2.
11.Wha
ti
sGe
or
ge
'
soppor
t
uni
t
yc
os
tofc
ul
t
i
va
t
i
ngagar
de
n?
A)hal
fagar
de
nc
ul
t
i
va
t
e
d
B)t
wol
a
wnsmowe
d
C)t
wot
hi
r
dsofagar
de
nc
ul
t
i
va
t
e
d
D)oneandahal
fl
a
wnsmowe
d
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
46)Re
f
e
rt
oTabl
e2.
11.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)J
ac
khasac
ompar
a
t
i
veadvant
a
gei
nbot
ht
as
ks
.
B)Ge
or
gehasac
ompar
a
t
i
veadvant
a
gei
nbot
ht
as
ks
.
C)J
ac
khasac
ompar
a
t
i
veadvant
a
gei
nl
a
wnmowi
ngandGe
or
gei
ngar
de
nc
ul
t
i
va
t
i
ng.
D)J
ac
khasac
ompar
a
t
i
veadvant
a
gei
ngar
de
nc
ul
t
i
va
t
i
ngandGe
or
gei
nl
a
wnmowi
ng.
64
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Ans
we
r
:D
Di
ff:
3 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
47)Compar
a
t
i
veadvant
a
geme
ans
A)t
heabi
l
i
t
yt
opr
oduc
emor
eofapr
oduc
twi
t
ht
hes
ameamountofr
e
s
our
c
e
st
hananyot
he
rpr
oduc
e
r
.
B)t
heabi
l
i
t
yt
opr
oduc
eagoodors
e
r
vi
c
ea
tal
owe
roppor
t
uni
t
yc
os
tt
hananyot
he
rpr
oduc
e
r
.
C)t
heabi
l
i
t
yt
opr
oduc
eagoodors
e
r
vi
c
ea
tahi
ghe
roppor
t
uni
t
yc
os
tt
hananyot
he
rpr
oduc
e
r
.
D)c
ompar
e
dt
oot
he
r
s
,youar
ebe
t
t
e
ra
tpr
oduc
i
ngapr
oduc
t
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4446
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
48)Spe
c
i
al
i
zi
ngi
nt
hepr
oduc
t
i
onofagoodors
e
r
vi
c
ei
nwhi
c
honehasac
ompar
a
t
i
veadvant
a
ge
e
nabl
e
sac
ount
r
yt
odowhi
c
hoft
hef
ol
l
owi
ng?
A)ne
ve
rha
vet
oe
nga
gei
nt
r
adewi
t
hot
he
rna
t
i
ons
B)i
nc
r
e
as
et
hevar
i
e
t
yofpr
oduc
t
st
ha
ti
tc
anpr
oduc
ewi
t
hade
c
r
e
as
ei
nr
e
s
our
c
e
s
C)c
ons
umeac
ombi
na
t
i
onofgoodst
ha
tl
i
e
sout
s
i
dei
t
sownpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
D)pr
oduc
eac
ombi
na
t
i
onofgoodst
ha
tl
i
e
sout
s
i
dei
t
sownpr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
4446
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
49)Fore
ac
hwa
t
c
ht
ha
tS
wi
t
ze
r
l
andpr
oduc
e
s
,i
tgi
ve
supt
heoppor
t
uni
t
yt
omake50poundsof
c
hoc
ol
a
t
e
.Ge
r
manyc
anpr
oduc
e1wa
t
c
hf
ore
ve
r
y100poundsofc
hoc
ol
a
t
ei
tpr
oduc
e
s
.Whi
c
hoft
he
f
ol
l
owi
ngi
st
r
ueaboutt
hec
ompar
a
t
i
veadvant
a
gebe
t
we
e
nt
het
woc
ount
r
i
e
s
?
A)S
wi
t
ze
r
l
andhast
hec
ompar
a
t
i
veadvant
a
gei
nc
hoc
ol
a
t
e
.
B)S
wi
t
z
e
r
l
andhast
hec
ompar
a
t
i
veadvant
a
gei
nwa
t
c
he
s
.
C)Ge
r
manyhast
hec
ompar
a
t
i
veadvant
a
gei
nwa
t
c
he
sandc
hoc
ol
a
t
e
.
D)Ge
r
manyhast
hec
ompar
a
t
i
veadvant
a
gei
nwa
t
c
he
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Fi
gur
e2.
14
65
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Fi
gur
e2.
14s
howst
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
sf
orCos
t
aRi
c
aandGua
t
e
mal
a
.Eac
hc
ount
r
y
pr
oduc
e
st
wogoods
,pi
ne
appl
e
sandc
oc
onut
s
.
50)Re
f
e
rt
oFi
g
ur
e2.
14.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1t
onneofc
oc
onut
si
nCos
t
aRi
c
a?
A)3/8ofat
onneofpi
ne
appl
e
s
B)2
/3ofat
onneofpi
ne
appl
e
s
C)11
/2t
onne
sofpi
ne
appl
e
s
D)100t
onne
sofpi
ne
appl
e
s
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
51)Re
f
e
rt
oFi
g
ur
e2.
14.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1t
onneofc
oc
onut
si
nGua
t
e
mal
a?
A)1/2ofat
onneofpi
ne
appl
e
s
B)11
/3t
onne
sofpi
ne
appl
e
s
C)2t
onne
sofpi
ne
appl
e
s
D)90t
onne
sofpi
ne
appl
e
s
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
66
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52)Re
f
e
rt
oFi
g
ur
e2.
14.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1t
onneofpi
ne
appl
e
si
nCos
t
aRi
c
a?
A)3/8ofat
onneofc
oc
onut
s
B)2
/3ofat
onneofc
oc
onut
s
C)11
/2t
onne
sofc
oc
onut
s
D)100t
onne
sofc
oc
onut
s
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
53)Re
f
e
rt
oFi
g
ur
e2.
14.Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ng1t
onneofpi
ne
appl
e
si
nGua
t
e
mal
a?
A)1/2ofat
onneofc
oc
onut
s
B)11
/3t
onne
sofc
oc
onut
s
C)2t
onne
sofc
oc
onut
s
D)180t
onne
sofc
oc
onut
s
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
54)Re
f
e
rt
oFi
g
ur
e2.
14.Whi
c
hc
ount
r
yhasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofc
oc
onut
s
?
A)Gua
t
e
mal
a
B)The
yha
vee
qualpr
oduc
t
i
veabi
l
i
t
i
e
s
.
C)Cos
t
aRi
c
a
D)ne
i
t
he
rc
ount
r
y
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
55)Re
f
e
rt
oFi
g
ur
e2.
14.Whi
c
hc
ount
r
yhasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofpi
ne
appl
e
s
?
A)Gua
t
e
mal
a
B)The
yha
vee
qualpr
oduc
t
i
veabi
l
i
t
i
e
s
.
C)Cos
t
aRi
c
a
D)ne
i
t
he
rc
ount
r
y
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
67
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56)Re
f
e
rt
oFi
g
ur
e2.
14.I
ft
het
woc
ount
r
i
e
sha
vet
hes
ameamountofr
e
s
our
c
e
sandt
hes
ame
t
e
c
hnol
ogi
c
alknowl
e
dge
,whi
c
hc
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofbot
h
pi
ne
appl
e
sandc
oc
onut
s
?
A)Gua
t
e
mal
a
B)Ne
i
t
he
rc
ount
r
y
C)Cos
t
aRi
c
a
D)Anabs
ol
ut
eadvant
a
gec
annotbede
t
e
r
mi
ne
d
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4446
Topi
c
:Abs
ol
ut
eAdvant
a
ge
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
57)I
ndi
vi
dual
swhoha
vene
ve
rbe
e
nt
hebe
s
ta
tdoi
nganyt
hi
ng
A)c
annotha
veac
ompar
a
t
i
veadvant
a
gei
npr
oduc
i
nganypr
oduc
t
.
B)c
ans
t
i
l
lha
veac
ompar
a
t
i
veadvant
a
gei
npr
oduc
i
ngs
omepr
oduc
t
.
C)pe
r
f
or
m al
lt
as
ksa
tahi
ghe
roppor
t
uni
t
yc
os
tt
hanot
he
r
s
.
D)mus
tha
veanabs
ol
ut
eadvant
a
gei
na
tl
e
as
tone
st
as
k.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Tabl
e2.
12
OneCe
l
lPhone
Es
t
oni
a
Fi
nl
and
40hour
s
16hour
s
Lumber(
perc
ubi
c
met
r
e)
8hour
s
4hour
s
Tabl
e2.
12s
howst
henumbe
rofl
abourhour
sr
e
qui
r
e
dt
opr
oduc
eac
e
l
lphoneandac
ubi
cme
t
r
eof
l
umbe
ri
nEs
t
oni
aandFi
nl
and.
58)Re
f
e
rt
oTabl
e2.
12.Doe
se
i
t
he
rEs
t
oni
aorFi
nl
andha
veanabs
ol
ut
eadvant
a
geandi
fs
o,i
nwha
t
pr
oduc
t
?
A)Fi
nl
andhasanabs
ol
ut
eadvant
a
gei
nl
umbe
r
.
B)Es
t
oni
ahasanabs
ol
ut
eadvant
a
gei
nl
umbe
r
.
C)Fi
nl
andhasanabs
ol
ut
eadvant
a
gei
nbot
hpr
oduc
t
s
.
D)Es
t
oni
ahasanabs
ol
ut
eadvant
a
gei
nc
e
l
lphone
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
4647
Topi
c
:Abs
ol
ut
eAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
68
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59)Re
f
e
rt
oTabl
e2.
12.Wha
ti
sEs
t
oni
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
e
l
lphone
?
A)0.
2c
ubi
cme
t
r
e
sofl
umbe
r
B)5c
ubi
cme
t
r
e
sofl
umbe
r
C)8c
ubi
cme
t
r
e
sofl
umbe
r
D)32c
ubi
cme
t
r
e
sofl
umbe
r
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
60)Re
f
e
rt
oTabl
e2.
12.Wha
ti
sFi
nl
and'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
e
l
lphone
?
A)0.
25c
ubi
cme
t
r
e
sofl
umbe
r
B)4c
ubi
cme
t
r
e
sofl
umbe
r
C)12c
ubi
cme
t
r
e
sofl
umbe
r
D)16c
ubi
cme
t
r
e
sofl
umbe
r
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
61)Re
f
e
rt
oTabl
e2.
12.Wha
ti
sEs
t
oni
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
ubi
cme
t
r
eofl
umbe
r
?
A)0.
2c
e
l
lphone
s
B)5c
e
l
lphone
s
C)8c
e
l
lphone
s
D)32c
e
l
lphone
s
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
69
Copyright © 2018 Pearson Canada, Inc.
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62)Re
f
e
rt
oTabl
e2.
12.Wha
ti
sFi
nl
and'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
ubi
cme
t
r
eofl
umbe
r
?
A)0.
25c
e
l
lphone
s
B)4c
e
l
lphone
s
C)12c
e
l
lphone
s
D)16c
e
l
lphone
s
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
63)Re
f
e
rt
oTabl
e2.
12.Es
t
oni
ahasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onof
A)bot
hpr
oduc
t
s
.
B)l
umbe
r
.
C)c
e
l
lphone
s
.
D)ne
i
t
he
rpr
oduc
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
64)Re
f
e
rt
oTabl
e2.
12.Fi
nl
andhasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onof
A)bot
hpr
oduc
t
s
.
B)l
umbe
r
.
C)c
e
l
lphone
s
.
D)ne
i
t
he
rpr
oduc
t
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
4647
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
70
Copyright © 2018 Pearson Canada, Inc.
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65)Re
f
e
rt
oTabl
e2.
12.I
ft
het
woc
ount
r
i
e
ss
pe
c
i
al
i
zeandt
r
ade
,whos
houl
de
xpor
tl
umbe
r
?
A)The
r
ei
snobas
i
sf
ort
r
adebe
t
we
e
nt
het
woc
ount
r
i
e
s
.
B)Es
t
oni
a
C)Fi
nl
and
D)The
ys
houl
dbot
hbee
xpor
t
i
ngl
umbe
r
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4647
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
66)Re
f
e
rt
oTabl
e2.
12.I
ft
het
woc
ount
r
i
e
ss
pe
c
i
al
i
zeandt
r
ade
,whos
houl
de
xpor
tc
e
l
lphone
s
?
A)The
r
ei
snobas
i
sf
ort
r
adebe
t
we
e
nt
het
woc
ount
r
i
e
s
.
B)Es
t
oni
a
C)Fi
nl
and
D)The
ys
houl
dbot
hbei
mpor
t
i
ngc
e
l
lphone
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
4647
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
67)As
s
umef
e
w pe
opl
ec
anbee
x
c
e
l
l
e
nts
ur
ge
onsbutmanype
opl
ec
anbee
x
c
e
l
l
e
ntmana
ge
r
s
.I
ft
hebe
s
t
s
ur
ge
oni
nt
owni
sal
s
ot
hebe
s
tmana
ge
r
,e
c
onomi
cr
e
as
ons
ugge
s
t
st
he
ys
houl
d
A)s
pl
i
tt
he
i
rt
i
mee
ve
nl
ybe
t
we
e
nbe
i
ngas
ur
ge
onandamana
ge
r
.
B)s
pe
c
i
al
i
zei
nbe
i
ngas
ur
ge
onbe
c
aus
ei
t
soppor
t
uni
t
yc
os
ti
sl
owe
r
.
C)pur
s
uet
hea
c
t
i
vi
t
ys
hee
nj
oysmor
e
.
D)s
pe
c
i
al
i
zei
nbe
i
ngamana
ge
rbe
c
aus
ei
ti
smor
ec
api
t
al
i
nt
e
ns
i
ve
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
4445
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Re
fle
c
t
i
veThi
nki
ng
71
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68)I
zzyAmadori
sahi
ghl
yt
al
e
nt
e
dt
a
t
t
ooar
t
i
s
t
.Ane
c
onomi
s
twoul
dar
gues
hehasc
hos
e
nt
o
s
pe
c
i
al
i
zei
nt
a
t
t
ooar
tf
oral
loft
hef
ol
l
owi
ngr
e
as
ons
,e
x
c
e
p
t
A)he
rt
a
t
t
oosar
ehi
ghl
ye
s
t
e
e
me
dbyt
a
t
t
ool
ove
r
swhoar
ewi
l
l
i
ngt
opa
yve
r
yhi
ghpr
i
c
e
s
.
B)f
orhe
r
,t
hi
si
st
hemos
tl
uc
r
a
t
i
vewa
yt
opur
c
has
et
hepr
oduc
t
st
ha
ts
hewant
st
oc
ons
ume
.
C)he
roppor
t
uni
t
yc
os
tofpur
s
ui
nganot
he
rc
ar
e
e
ri
sve
r
yl
ow.
D)s
heobvi
ous
l
yhasac
ompar
a
t
i
veadvant
a
gei
nt
a
t
t
ooar
t
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
4445
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Re
fle
c
t
i
veThi
nki
ng
69)I
fBl
akec
anpi
c
kmor
ec
he
r
r
i
e
si
nonehourt
hanCody
,t
he
nBl
akehasac
ompar
a
t
i
veadvant
a
gei
n
c
he
r
r
ypi
c
ki
ng.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
70)Thebas
i
sf
ort
r
adei
sabs
ol
ut
eadvant
a
ge
,notc
ompar
a
t
i
veadvant
a
ge
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
71)I
fac
ount
r
ypr
oduc
e
sonl
yt
wogoods
,t
he
ni
ti
snotpos
s
i
bl
et
oha
veac
ompar
a
t
i
veadvant
a
gei
nt
he
pr
oduc
t
i
onofbot
ht
hos
egoods
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
72)I
nat
wogood,t
woc
ount
r
ywor
l
d,i
fonec
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onof
bot
hgoods
,i
tc
ans
t
i
l
lbe
ne
fitbyt
r
adi
ngwi
t
ht
heot
he
rc
ount
r
y
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Abs
ol
ut
eAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
72
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73)I
ft
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ngmor
eofonegoodi
nc
r
e
as
e
sasmor
eoft
ha
tgoodi
spr
oduc
e
d,
t
he
nt
hepr
oduc
t
i
onme
t
hodi
si
ne
ffic
i
e
nt
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
74)I
ti
snotpos
s
i
bl
et
oha
veac
ompar
a
t
i
veadvant
a
gei
npr
oduc
i
ngagoodors
e
r
vi
c
ewi
t
houtha
vi
nga
n
abs
ol
ut
eadvant
a
ge
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Don'
tLe
tThi
sHappe
nt
oYou:Don'
tConf
us
eAbs
ol
ut
eAdvant
a
geandCompar
a
t
i
veAdvant
a
ge
75)I
si
tpos
s
i
bl
ef
orafir
mt
oha
veac
ompar
a
t
i
veadvant
a
gei
npr
oduc
i
ngs
ome
t
hi
ngwi
t
houtha
vi
ngan
abs
ol
ut
eadvant
a
ge
?Whyorwhynot
?
Ans
we
r
:Ye
s
,afir
mc
anha
veac
ompar
a
t
i
veadvant
a
gewi
t
houtha
vi
nganabs
ol
ut
eadvant
a
gei
fi
tc
an
pr
oduc
eagoodors
e
r
vi
c
ea
tal
owe
roppor
t
uni
t
yc
os
tt
hanc
ompe
t
i
t
or
s
,e
ve
ni
fi
ti
snotabl
et
opr
oduc
e
mor
eoft
hegoodors
e
r
vi
c
et
hani
t
sc
ompe
t
i
t
or
s
.
Di
ff:
2 Pa
geRe
f
:
4445
Topi
c
:Compar
a
t
i
veAdvant
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
76)Shoul
dc
ount
r
i
e
ss
pe
c
i
al
i
zei
npr
oduc
i
nggoodsands
e
r
vi
c
e
sbas
e
donha
vi
ngac
ompar
a
t
i
ve
advant
a
georanabs
ol
ut
eadvant
a
ge
?Why?
Ans
we
r
:Count
r
i
e
ss
houl
ds
pe
c
i
al
i
zei
npr
oduc
i
ngpr
oduc
t
sbas
e
donc
ompar
a
t
i
veadvant
a
gebe
c
aus
e
t
hi
sal
l
owsc
ount
r
i
e
st
opr
oduc
et
hos
epr
oduc
t
sands
e
r
vi
c
e
sa
tal
owe
roppor
t
uni
t
yc
os
tt
hanpot
e
nt
i
a
l
t
r
adi
ngpar
t
ne
r
s
.
Di
ff:
2 Pa
geRe
f
:
4546
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
73
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Tabl
e2.
13
Es
t
oni
a
Fi
nl
and
Ce
l
lPhone
20hour
s
18hour
s
Lumber(
c
ubi
c
met
r
es
)
5hour
s
4hour
s
77)Re
f
e
rt
oTabl
e2.
13.Thi
st
abl
es
howst
henumbe
rofl
abourhour
sr
e
qui
r
e
dt
opr
oduc
eac
e
l
lphone
andac
ubi
cme
t
r
eofl
umbe
ri
nEs
t
oni
aandFi
nl
and.
a
. Whi
c
hc
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofc
e
l
lphone
s
?
b. Whi
c
hc
ount
r
yhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofl
umbe
r
?
c
. Wha
ti
sEs
t
oni
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
e
l
lphone
?
d. Wha
ti
sFi
nl
and'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
e
l
lphone
?
e
. Wha
ti
sEs
t
oni
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
ubi
cme
t
r
eofl
umbe
r
?
f
. Wha
ti
sFi
nl
and'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
ubi
cme
t
r
eofl
umbe
r
?
g. I
fe
ac
hc
ount
r
ys
pe
c
i
al
i
ze
si
nt
hepr
oduc
t
i
onoft
hepr
oduc
ti
nwhi
c
hi
thasac
ompar
a
t
i
veadvant
a
ge
,
whos
houl
dpr
oduc
ec
e
l
lphone
s
?
h. I
fe
ac
hc
ount
r
ys
pe
c
i
al
i
ze
si
nt
hepr
oduc
t
i
onoft
hepr
oduc
ti
nwhi
c
hi
thasac
ompar
a
t
i
veadvant
a
ge
,
whos
houl
dpr
oduc
el
umbe
r
?
Ans
we
r
:
a
. Fi
nl
andhasanabs
ol
ut
eadvant
a
gei
nt
hepr
oduc
t
i
onofc
e
l
lphone
s
.
b. Fi
nl
andhasanabs
ol
ut
eadvant
a
gei
nl
umbe
rpr
oduc
t
i
on.
c
. Es
t
oni
a'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
e
l
lphonei
s4c
ubi
cme
t
r
e
sofl
umbe
r
.
d. Fi
nl
and'
soppor
t
uni
t
yc
os
tofpr
oduc
i
ngonec
e
l
lphonei
s4.
5c
ubi
cme
t
r
e
sofl
umbe
r
.
e
. Es
t
oni
a'
soppor
t
uni
t
yc
os
tofonec
ubi
cme
t
r
eofl
umbe
ri
s0.
25uni
t
sofac
e
l
lphone
.
f
. Fi
nl
and'
soppor
t
uni
t
yc
os
tofonec
ubi
cme
t
r
eofl
umbe
ri
s0.
22uni
t
sofac
e
l
lphone
.
g. Es
t
oni
as
houl
ds
pe
c
i
al
i
zei
npr
oduc
i
ngc
e
l
lphone
s
.
h. Fi
nl
ands
houl
ds
pe
c
i
al
i
zei
npr
oduc
i
ngl
umbe
r
.
Di
ff:
3 Pa
geRe
f
:
4246
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
74
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Tabl
e2.
14
Es
t
oni
a
Fi
nl
and
Ce
l
lPhone
20hour
s
18hour
s
Lumber(
c
ubi
cmet
r
es)
5hour
s
4hour
s
78)Re
f
e
rt
oTabl
e2.
14.Thi
st
abl
es
howst
henumbe
rofl
abourhour
sr
e
qui
r
e
dt
opr
oduc
eac
e
l
lphone
andac
ubi
cme
t
r
eofl
umbe
ri
nEs
t
oni
aandFi
nl
and.
a
.I
fe
ac
hc
ount
r
yhasat
ot
alof3,
600l
abourhour
st
ode
vot
et
ot
hepr
oduc
t
i
onoft
het
wogoods
,dr
a
w
t
hepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rf
ore
ac
hc
ount
r
y
.Put"
Ce
l
lPhone
"ont
hehor
i
z
ont
alaxi
sand
"
Lumbe
r
"ont
heve
r
t
i
c
alaxi
s
.Bes
ur
et
oi
de
nt
i
f
yt
hei
nt
e
r
c
e
ptval
ue
sonyourgr
aphs
.
b. Suppos
ee
ac
hc
ount
r
yal
l
oc
a
t
e
s55% ofi
t
sl
abourhour
st
ol
umbe
rpr
oduc
t
i
onand45% t
ot
he
pr
oduc
t
i
onofc
e
l
lphone
s
.Compl
e
t
eTabl
e2.
15be
l
ow t
os
how e
ac
hc
ount
r
y'
sout
putoft
het
wo
pr
oduc
t
s
.
Tabl
e2.
15:Pr
oduc
t
i
onandCons
umpt
i
onWi
t
hNoTr
ade
LumberOut
put
Ce
l
lPhone
Out
put
(
c
ubi
cmet
r
es
)
Es
t
oni
a
Fi
nl
and
Tot
al
c
.I
ft
het
woc
ount
r
i
e
sdonott
r
adeandc
ons
umewha
t
e
ve
rt
he
ypr
oduc
e
,i
de
nt
i
f
yt
hec
ur
r
e
nt
pr
oduc
t
i
onandc
ons
umpt
i
onpoi
ntf
ore
ac
hc
ount
r
yont
he
i
rr
e
s
pe
c
t
i
vepr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
s
f
r
ont
i
e
r
s
.Labe
lEs
t
oni
a'
sc
ons
umpt
i
onpoi
nt"
E"andFi
nl
and'
sc
ons
umpt
i
onpoi
nt"
F.
"
d.Suppos
et
het
woc
ount
r
i
e
ss
pe
c
i
al
i
zeandt
r
ade
.Whos
houl
dpr
oduc
ec
e
l
lphone
sandwhos
houl
d
pr
oduc
el
umbe
r
?Expl
ai
nyourans
we
r
.
e
. Compl
e
t
eTabl
e2.
16be
l
ow t
os
how e
ac
hc
ount
r
y'
sout
putwi
t
hs
pe
c
i
al
i
za
t
i
on.
Tabl
e2.
16:Out
putWi
t
hSpe
c
i
al
i
za
t
i
on
Ce
l
lPhone
Out
put
Es
t
oni
a
Fi
nl
and
Tot
al
LumberOut
put
(
c
ubi
cmet
r
es
)
f
. Di
ds
pe
c
i
al
i
za
t
i
oni
nc
r
e
as
et
hec
ombi
ne
dout
putf
ort
het
woc
ount
r
i
e
swi
t
houtanyi
nc
r
e
as
ei
n
r
e
s
our
c
e
s
?I
fs
o,byhow muc
h?
g. Suppos
eEs
t
oni
aandFi
nl
anda
gr
e
et
ot
r
ades
ot
ha
ti
ne
x
c
hangef
or400c
ubi
cme
t
r
e
sofl
umbe
r
,t
he
e
xpor
t
e
rofl
umbe
rr
e
c
e
i
ve
s90c
e
l
lphone
s
.Compl
e
t
eTabl
e2.
17be
l
ow t
os
how e
ac
hc
ount
r
y'
s
c
ons
umpt
i
onbundl
eaf
t
e
rt
r
ade
.
Tabl
e2.
17:Cons
umpt
i
onWi
t
hTr
ade
Ce
l
lPhone
Lumber
(
c
ubi
cmet
er
s
)
Es
t
oni
a
Fi
nl
and
h. Show t
hec
ons
umpt
i
onpoi
nt
sa
f
t
e
rt
r
adeone
ac
hc
ount
r
y'
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.Labe
l
t
he
s
epoi
nt
s"
X"f
orEs
t
oni
aand"
Y"f
orFi
nl
and.
i
. Hast
r
ademadet
het
woc
ount
r
i
e
sbe
t
t
e
roff?Expl
ai
nyourans
we
r
.
Ans
we
r
:
75
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a
.
b.
Tabl
e2.
15:Pr
oduc
t
i
onandCons
umpt
i
onWi
t
hNoTr
ade
Ce
l
lPhone
LumberOut
put
Out
put
(
c
ubi
cmet
er
s
)
Es
t
oni
a
81
396
Fi
nl
and
90
495
Tot
al
171
891
c
. Se
egr
aphi
npar
t(
a)
d. Es
t
oni
as
houl
ds
pe
c
i
al
i
zei
npr
oduc
i
ngc
e
l
lphone
sbe
c
aus
ei
thasal
owe
roppor
t
uni
t
yc
os
t
:4c
ubi
c
me
t
r
e
sofl
umbe
rasoppos
e
dt
oFi
nl
and'
s4.
5c
ubi
cme
t
r
e
sofl
umbe
r
.Fi
nl
ands
houl
ds
pe
c
i
al
i
zei
n
pr
oduc
i
ngl
umbe
rbe
c
aus
ei
thasal
owe
roppor
t
uni
t
yc
os
t
:0.
22uni
t
sofac
e
l
lphoneasoppos
e
dt
o
Es
t
oni
a'
s0.
25uni
t
sofac
e
l
lphone
.
e
.
Tabl
e2.
16:Out
putWi
t
hSpe
c
i
al
i
za
t
i
on
Ce
l
lPhone
Lumberout
put
Out
put
(
c
ubi
cmet
r
es
)
Es
t
oni
a
180
0
Fi
nl
and
0
900
Tot
al
180
900
f
. Ye
s
,c
e
l
lphoneout
puti
nc
r
e
as
e
dby9uni
t
s(
f
r
om 171uni
t
st
o180uni
t
s
)andl
umbe
rout
put
i
nc
r
e
as
e
dby9c
ubi
cme
t
r
e
s(
f
r
om 891c
ubi
cme
t
r
e
st
o900c
ubi
cme
t
r
e
s
)
.
76
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g.
Tabl
e2.
17:Cons
umpt
i
onWi
t
hTr
ade
Es
t
oni
a
Fi
nl
and
Ce
l
lPhone
90
90
Lumber
(
c
ubi
cmet
er
s
)
400
500
h.Se
egr
aphi
npar
t(
a)
i
. Ye
s
,t
r
adehase
nabl
e
dt
het
woc
ount
r
i
e
st
oc
ons
umeout
s
i
det
he
i
rPPFs
.
Di
ff:
3 Pa
geRe
f
:
4246
Topi
c
:Spe
c
i
al
i
za
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Compar
a
t
i
veAdvant
a
geandt
heGai
nsf
r
om Tr
ade
79)Suppos
ei
nt
heUni
t
e
dSt
a
t
e
s
,t
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ngane
ngi
nei
s4aut
obodi
e
s
.I
n
Canada
,t
heoppor
t
uni
t
yc
os
tofpr
oduc
i
ngane
ngi
nei
s2aut
obodi
e
s
.
a
. Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
nganaut
obodyf
ort
heUni
t
e
dSt
a
t
e
s
?
b. Wha
ti
st
heoppor
t
uni
t
yc
os
tofpr
oduc
i
nganaut
obodyf
orCanada?
c
. Whi
c
hc
ount
r
yhasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofaut
obodi
e
s
?
d. Whi
c
hc
ount
r
yhasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofe
ngi
ne
s
?
Ans
we
r
:
a
. Fort
heUni
t
e
dSt
a
t
e
s
,t
heoppor
t
uni
t
yc
os
tofpr
oduc
i
nganaut
obodyi
s1
/4ofane
ngi
ne
.
b. ForCanada
,t
heoppor
t
uni
t
yc
os
tofpr
oduc
i
nganaut
obodyi
s1/2ofane
ngi
ne
.
c
. TheUni
t
e
dSt
a
t
e
shasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofaut
obodi
e
s
.
d. Canadahasac
ompar
a
t
i
veadvant
a
gei
nt
hepr
oduc
t
i
onofe
ngi
ne
s
.
Di
ff:
3 Pa
geRe
f
:
4246
Topi
c
:Oppor
t
uni
t
yCos
t
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
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l
uet
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de
c
i
s
i
ons
AACSB:Anal
yt
i
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s
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2.3 Explain the basic idea of how a market system works
1)Whi
c
hoft
hef
ol
l
owi
ngi
sno
taf
a
c
t
orofpr
oduc
t
i
on?
A)anac
r
eoff
a
r
ml
and
B)adr
i
l
lpr
e
s
si
namac
hi
nes
hop
C)t
hemana
ge
roft
hel
oc
alt
i
r
es
hop
D)$1,
000i
nc
as
h
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on
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ome
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i
ci
de
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ke
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ys
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ks
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i
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2)Ane
xampl
eofaf
ac
t
orofpr
oduc
t
i
oni
s
A)s
t
oc
ki
s
s
ue
dbyBombar
di
e
r
.
B)t
het
r
ai
nc
ar
se
xpor
t
e
dbyBombar
di
e
r
.
C)as
now mac
hi
nepr
oduc
e
dbyBombar
di
e
r
.
D)awor
ke
rhi
r
e
dbyBombar
di
e
r
.
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48
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c
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t
or
sofPr
oduc
t
i
on
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ar
ni
ngOut
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ome
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.
3Expl
ai
nt
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i
ci
de
aofhow amar
ke
ts
ys
t
e
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ks
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3)I
fac
omme
r
c
i
aldai
r
yf
a
r
m want
st
or
ai
s
ef
undst
opur
c
has
ef
e
e
di
ngt
r
oughs
,i
tdoe
ss
oi
nt
he
A)out
putmar
ke
t
.
B)pr
oduc
tmar
ke
t
.
C)f
a
c
t
ormar
ke
t
.
D)dai
r
ypr
oduc
t
smar
ke
t
.
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c
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t
s
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i
ci
de
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ke
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ys
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e
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ks
AACSB:Re
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t
i
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4)Thena
t
ur
alr
e
s
our
c
e
sus
e
di
npr
oduc
t
i
onar
emadea
vai
l
abl
ei
nt
he
A)goodsands
e
r
vi
c
e
smar
ke
t
.
B)pr
oduc
tmar
ke
t
.
C)gove
r
nme
ntmar
ke
t
.
D)f
ac
t
ormar
ke
t
.
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48
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c
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ke
t
s
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ar
ni
ngOut
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ome
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3Expl
ai
nt
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i
ci
de
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ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
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5)Whe
nyoupur
c
has
eane
w pai
rofj
e
ansyoudos
oi
nt
he
A)f
ac
t
ormar
ke
t
.
B)i
nputmar
ke
t
.
C)pr
oduc
tmar
ke
t
.
D)r
e
s
our
c
emar
ke
t
.
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48
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c
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ke
t
s
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ar
ni
ngOut
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ome
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.
3Expl
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nt
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i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
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t
i
veThi
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ng
6)Ther
e
s
our
c
ei
nc
omee
ar
ne
dbyt
hos
ewhos
uppl
y________i
sc
al
l
e
dwa
ge
s
.
A)l
abour
B)c
api
t
al
C)na
t
ur
alr
e
s
our
c
e
s
D)e
nt
r
e
pr
e
ne
ur
s
hi
p
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ys
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ks
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7)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
saboutane
nt
r
e
pr
e
ne
uri
sf
a
l
s
e
?
A)or
gani
ze
st
heot
he
rf
ac
t
or
sofpr
oduc
t
i
oni
nt
oawor
ki
nguni
t
B)de
ve
l
opst
hevi
s
i
onf
ort
hefir
m andf
undst
hepr
oduc
i
nguni
t
C)s
e
l
l
shi
sorhe
re
nt
r
e
pr
e
ne
ur
i
als
e
r
vi
c
e
si
nt
heout
putmar
ke
t
D)r
i
s
kst
hepe
r
s
onalf
undspr
ovi
de
d
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ys
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8)The________de
mons
t
r
a
t
e
st
her
ol
e
spl
a
ye
dbyhous
e
hol
dsandfir
msi
nt
hemar
ke
ts
ys
t
e
m.
A)pr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
B)c
i
r
c
ul
arflow mode
l
C)t
he
or
yofc
ompar
a
t
i
veadvant
a
ge
D)bus
i
ne
s
sc
yc
l
e
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ome
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i
ci
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ys
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ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
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9)Hous
e
hol
ds
A)ha
venoi
nflue
nc
eont
hec
i
r
c
ul
arflow i
namar
ke
te
c
onomy
.
B)pur
c
has
er
e
s
our
c
e
si
nt
hef
a
c
t
ormar
ke
t
.
C)s
e
l
lgoodsi
nt
hepr
oduc
tmar
ke
t
.
D)s
e
l
lr
e
s
our
c
e
si
nt
hef
ac
t
ormar
ke
t
.
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ome
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ys
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ks
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10)Hous
e
hol
ds________finalgoodsands
e
r
vi
c
e
si
nt
he________mar
ke
t
.
A)pur
c
has
e
;f
ac
t
or
B)pur
c
has
e
;pr
oduc
t
C)s
e
l
l
;f
a
c
t
or
D)s
e
l
l
;pr
oduc
t
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11)I
nt
hec
i
r
c
ul
arflow mode
l
,pr
oduc
e
r
s
A)s
e
l
lgoodsands
e
r
vi
c
e
si
nt
hei
nputmar
ke
t
.
B)andhous
e
hol
dss
pe
nde
ar
ni
ngsf
r
om r
e
s
our
c
es
al
e
songoodsands
e
r
vi
c
e
si
nt
hef
ac
t
ormar
ke
t
.
C)hi
r
er
e
s
our
c
e
ss
ol
dbyhous
e
hol
dsi
nt
hef
a
c
t
ormar
ke
t
.
D)s
pe
nde
ar
ni
ngsf
r
om r
e
s
our
c
es
al
e
songoodsands
e
r
vi
c
e
si
nt
hepr
oduc
tmar
ke
t
.
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ci
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ys
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ks
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i
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ng
12)Whi
c
hoft
hef
ol
l
owi
ngi
saflow i
nt
hec
i
r
c
ul
arflow mode
l
?
A)t
heflow ofgoodsands
e
r
vi
c
e
sf
r
om hous
e
hol
dst
ofir
ms
B)t
heflow ofpr
ofitandt
heflow ofr
e
ve
nue
C)t
heflow ofi
nc
omee
ar
ne
dbyfir
msandt
heflow ofe
xpe
ndi
t
ur
e
se
ar
ne
dbyhous
e
hol
ds
D)t
heflow ofr
e
ve
nuer
e
c
e
i
ve
dbyfir
msandt
heflow ofpa
yme
nt
st
or
e
s
our
c
eowne
r
s
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ome
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i
ci
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ke
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ys
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ks
AACSB:Re
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c
t
i
veThi
nki
ng
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Fi
gur
e2.
15
13)Re
f
e
rt
oFi
g
ur
e2.
15.Ones
e
gme
ntoft
hec
i
r
c
ul
arflow di
a
gr
am i
nt
hefigur
es
howst
heflow ofl
abour
s
e
r
vi
c
e
sf
r
om mar
ke
tKt
oe
c
onomi
ca
ge
nt
sJ
.Wha
ti
smar
ke
tKandwhoar
ee
c
onomi
ca
ge
nt
sJ
?
A)K=f
ac
t
ormar
ke
t
s
;J=hous
e
hol
ds
B)K=pr
oduc
tmar
ke
t
s
;J=hous
e
hol
ds
C)K=f
a
c
t
ormar
ke
t
s
;J=fir
ms
D)K=pr
oduc
tmar
ke
t
s
;J=fir
ms
Ans
we
r
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arFl
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ar
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ngOut
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ome
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.
3Expl
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nt
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i
ci
de
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ke
ts
ys
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e
m wor
ks
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i
veThi
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14)Re
f
e
rt
oFi
g
ur
e2.
15.Ones
e
gme
ntoft
hec
i
r
c
ul
arflow di
a
gr
am i
nt
hefigur
es
howst
heflow ofwa
ge
s
ands
al
ar
i
e
sf
r
om mar
ke
tKt
oe
c
onomi
ca
ge
nt
sM.Wha
ti
smar
ke
tKandwhoar
ee
c
onomi
ca
ge
nt
sM?
A)K=f
ac
t
ormar
ke
t
s
;M =hous
e
hol
ds
B)K=pr
oduc
tmar
ke
t
s
;M =hous
e
hol
ds
C)K=f
a
c
t
ormar
ke
t
s
;M =fir
ms
D)K=pr
oduc
tmar
ke
t
s
;M =fir
ms
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ome
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ys
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AACSB:Re
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nki
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15)Whi
c
hoft
hef
ol
l
owi
ngar
es
e
par
a
t
eflows(
s
howni
ndi
ffe
r
e
ntpar
t
soft
hemode
l
)i
nt
hec
i
r
c
ul
arflow
mode
l
?
A)t
heflow ofgoodsandt
heflow ofs
e
r
vi
c
e
s
B)t
heflow ofc
os
t
sandt
heflow ofr
e
ve
nue
C)t
heflow ofi
nc
omee
ar
ne
df
r
om t
hes
al
eofr
e
s
our
c
e
sandt
heflow ofe
xpe
ndi
t
ur
e
songoodsand
s
e
r
vi
c
e
s
D)t
heflow ofi
nc
omer
e
c
e
i
ve
dbyhous
e
hol
dsandt
heflow oft
axr
e
ve
nue
spai
dbyhous
e
hol
ds
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c
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arFl
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ome
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ar
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ome
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.
3Expl
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nt
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i
ci
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ke
ts
ys
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e
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ks
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i
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ng
16)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
saboutas
i
mpl
ec
i
r
c
ul
arflow mode
li
sf
a
l
s
e
?
A)Pr
oduc
e
r
sar
ebuye
r
si
nt
hef
ac
t
ormar
ke
tands
e
l
l
e
r
si
nt
hepr
oduc
tmar
ke
t
.
B)Hous
e
hol
dsar
ene
i
t
he
rbuye
r
snors
e
l
l
e
r
si
nt
hei
nputmar
ke
t
.
C)Pr
oduc
e
r
sar
ebuye
r
si
nt
hef
a
c
t
ormar
ke
t
.
D)Hous
e
hol
dsar
es
e
l
l
e
r
si
nt
hepr
oduc
tmar
ke
t
.
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ff:
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4849
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c
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arFl
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ome
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ar
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ome
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nt
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i
ci
de
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ke
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ys
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e
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ks
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Fi
gur
e2.
16
17)Re
f
e
rt
oFi
g
ur
e2.
16.Ones
e
gme
ntoft
hec
i
r
c
ul
arflow di
a
gr
am i
nt
hefigur
es
howst
heflow ofgoods
ands
e
r
vi
c
e
sf
r
om mar
ke
tCt
oe
c
onomi
ca
ge
nt
sA.Wha
ti
smar
ke
tCandwhoar
ee
c
onomi
ca
ge
nt
sA?
A)C=f
ac
t
ormar
ke
t
s
;A=hous
e
hol
ds
B)C=pr
oduc
tmar
ke
t
s
;A=hous
e
hol
ds
C)C=f
a
c
t
ormar
ke
t
s
;A=fir
ms
D)C=pr
oduc
tmar
ke
t
s
;A=fir
ms
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ar
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ome
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nt
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i
ci
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ke
ts
ys
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e
m wor
ks
AACSB:Re
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t
i
veThi
nki
ng
Fi
gur
e2.
17
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18)Re
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a
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am de
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84
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25)Adam Smi
t
h'
sbe
ha
vi
our
alas
s
umpt
i
onabouthumanswast
ha
tpe
opl
e
A)t
ypi
c
al
l
yac
ti
r
r
a
t
i
onal
l
y
.
B)us
ual
l
ya
c
ti
nar
a
t
i
onal
,s
e
l
f
i
nt
e
r
e
s
t
e
dwa
y
.
C)ar
ec
ons
i
s
t
e
nt
l
ygr
e
e
dy
.
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ypi
c
al
l
yac
tr
andoml
y
.
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26)Al
loft
hef
ol
l
owi
ngc
ount
r
i
e
sc
omec
l
os
et
ot
hef
r
e
emar
ke
tbe
nc
hmar
ke
x
c
e
p
t
A)Canada
.
B)Nor
t
hKor
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a
.
C)Ge
r
many
.
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ngapor
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27)Adam Smi
t
h'
si
nvi
s
i
bl
ehandr
e
f
e
r
st
o
A)t
hegove
r
nme
nt
'
sunobt
r
us
i
ver
ol
ei
ne
ns
ur
i
ngt
ha
tt
hee
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onomyf
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t
i
onse
ffic
i
e
nt
l
y
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ope
r
t
yowne
r
s
hi
pl
a
wsandt
her
ul
eoft
hec
our
ts
ys
t
e
m.
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hepr
oc
e
s
sbywhi
c
hi
ndi
vi
dual
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c
t
i
ngi
nt
he
i
rowns
e
l
f
i
nt
e
r
e
s
tbr
i
ngaboutamar
ke
tout
c
omet
ha
t
be
ne
fit
ss
oc
i
e
t
yasawhol
e
.
D)t
hel
a
wsofna
t
ur
et
ha
ti
nflue
nc
ee
c
onomi
c
sde
c
i
s
i
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85
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28)Al
loft
hef
ol
l
owi
ngar
ec
r
i
t
i
c
alf
unc
t
i
onsoft
hegove
r
nme
nti
nf
ac
i
l
i
t
a
t
i
ngt
heope
r
a
t
i
onofamar
ke
t
e
c
onomye
x
c
e
p
t
A)pr
ot
e
c
t
i
ngpr
i
va
t
epr
ope
r
t
y
.
B)e
nf
or
c
i
ngpr
ope
r
t
yr
i
ght
s
.
C)e
ns
ur
i
ngane
qualdi
s
t
r
i
but
i
onofi
nc
omet
oal
lc
i
t
i
ze
ns
.
D)e
nf
or
c
i
ngc
ont
r
ac
t
s
.
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29)Thet
e
r
m"
pr
ope
r
t
yr
i
ght
s
"r
e
f
e
r
st
o
A)t
hephys
i
c
alpos
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e
s
s
i
onofahous
eoranyot
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rpr
ope
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c
ht
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ypur
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has
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i
t
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oe
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i
s
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olove
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our
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e
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hi
nt
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onfine
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hel
a
w.
C)t
hegove
r
nme
nt
'
sr
i
ghtt
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opr
i
a
t
el
andf
r
om we
al
t
hyl
andowne
r
st
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s
t
r
i
but
et
ope
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ant
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.
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ne
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e
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onfis
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i
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i
mar
ypur
pos
eof________i
st
oe
nc
our
a
get
hee
xpe
ndi
t
ur
eoff
undsonr
e
s
e
ar
c
hand
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ve
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opme
ntt
oc
r
e
a
t
ene
w pr
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t
s
.
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e
nt
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al
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ypl
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de
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onomi
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s
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r
nme
nt
r
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al
t
hc
ar
e
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t
i
onal
i
zi
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ompani
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s
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t
e
nt
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j
orf
ac
t
orc
ont
r
i
but
i
ngt
ot
hes
l
ow gr
owt
hr
a
t
eofl
e
s
sde
ve
l
ope
de
c
onomi
e
si
s
A)t
hel
ac
kofwe
l
l
de
fine
dande
nf
or
c
e
abl
epr
ope
r
t
yr
i
ght
s
.
B)t
hel
ac
kofna
t
ur
alr
e
s
our
c
e
s
.
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hel
ac
kofwor
ke
r
s
.
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hehi
ghr
a
t
eofi
l
l
i
t
e
r
ac
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86
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32)As
uc
c
e
s
s
f
ulmar
ke
te
c
onomyr
e
qui
r
e
s
A)agove
r
nme
nt
c
ont
r
ol
l
e
dbanki
ngs
ys
t
e
m andgove
r
nme
ntpr
i
c
ec
ont
r
ol
s
.
B)we
l
l
de
fine
dpr
ope
r
t
yr
i
ght
sandani
nde
pe
nde
ntc
our
ts
ys
t
e
mt
oa
dj
udi
c
a
t
edi
s
put
e
sbas
e
dont
he
l
a
w.
C)ge
ne
r
ousune
mpl
oyme
ntbe
ne
fit
sandpai
dme
di
c
all
e
a
vef
ore
ve
r
yonei
nt
hel
abourf
or
c
e
.
D)ane
qui
t
abl
edi
s
t
r
i
but
i
onofi
nc
omeandl
i
mi
t
soni
mmi
gr
a
t
i
on.
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de
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ol
l
owi
ngi
t
e
ms
:
a
.t
henove
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TheDaVi
nc
iCode
"byDanBr
own
b. "
TheSpi
r
i
t
e
dShi
ppe
r
,
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nnova
t
i
vewi
nes
hi
ppi
ngbox
c
. aS
wi
s
sc
he
f
'
sa
war
dwi
nni
ngr
e
c
i
pe
d. anor
i
gi
nalf
abr
i
cde
s
i
gn,f
ore
xampl
e
,t
hef
abr
i
cus
e
df
or"
Coac
h"ba
gsandl
ugga
ge
Whi
c
hoft
hei
t
e
msl
i
s
t
e
di
sane
xampl
eofi
nt
e
l
l
e
c
t
ualpr
ope
r
t
y?
A)aandbonl
y
B)a
,b
,andc
C)aanddonl
y
D)al
loft
hei
t
e
msl
i
s
t
e
d
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
5152
Topi
c
:Pr
ope
r
t
yRi
ght
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
34)Anor
gani
za
t
i
onofpr
oduc
e
r
st
ha
tl
i
mi
t
st
heamountofagoodpr
oduc
e
di
sknownasa
A)f
r
e
emar
ke
tor
gani
za
t
i
on.
B)gui
l
d.
C)c
ol
l
e
c
t
i
ve
.
D)c
oop.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
51
Topi
c
:Mar
ke
t
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
87
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35)I
n18t
hc
e
nt
ur
yEur
ope
,gove
r
nme
nt
sga
vegui
l
dsl
e
galaut
hor
i
t
yt
ol
i
mi
tpr
oduc
t
i
onofgoods
.Di
d
t
hi
saut
hor
i
t
yobs
t
r
uc
tori
mpr
ovet
hemar
ke
tme
c
ha
ni
s
m andhow?
A)I
ti
mpr
ove
dt
hemar
ke
tme
c
hani
s
m bymaki
ngi
tmor
ee
ffic
i
e
ntbe
c
aus
et
hegui
l
dswe
r
eabl
et
o
qui
c
kl
yi
de
nt
i
f
yandr
e
c
t
i
f
yanymar
ke
ts
hor
t
a
ge
sands
ur
pl
us
e
s
.
B)I
ti
mpr
ove
dt
hemar
ke
tme
c
hani
s
m be
c
aus
et
hegove
r
nme
nt
'
sac
t
i
onspr
ovi
de
dt
hec
or
r
e
c
ts
e
tof
s
i
gnal
st
ot
hemar
ke
ts
ot
ha
tpr
oduc
e
r
sc
anadj
us
tt
he
i
rout
putt
obe
t
t
e
rme
e
tt
hene
e
dsofc
ons
ume
r
s
.
C)I
tobs
t
r
uc
t
e
dt
hemar
ke
tme
c
hani
s
m be
c
aus
et
hegui
l
d'
sac
t
i
onspr
e
ve
nt
e
dt
hef
or
c
e
sofde
mandand
s
uppl
yf
r
om c
oor
di
na
t
i
ngt
hes
e
l
f
i
nt
e
r
e
s
t
e
dde
c
i
s
i
onsofpr
oduc
e
r
sandc
ons
ume
r
s
.
D)I
tobs
t
r
uc
t
e
dt
hemar
ke
tme
c
hani
s
m be
c
aus
ewi
t
honemor
epar
t
yha
vi
ngt
oc
oor
di
na
t
eac
t
i
vi
t
i
e
s(
t
he
gui
l
ds
)t
he
r
ewe
r
ede
l
a
ysi
nge
t
t
i
ngt
hepr
oduc
t
st
oc
ons
ume
r
s
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
51
Topi
c
:Mar
ke
t
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
36)St
r
i
c
t
e
rl
a
wsandr
e
gul
a
t
i
onst
opr
ot
e
c
ti
nt
e
l
l
e
c
t
ualpr
ope
r
t
yr
i
ght
s
A)wi
l
lhe
l
pt
oc
r
e
a
t
eamor
es
uc
c
e
s
s
f
ulmar
ke
ts
ys
t
e
m.
B)wi
l
lonl
ybe
ne
fitt
hos
ec
ompani
e
swhos
ei
nt
e
l
l
e
c
t
ualpr
ope
r
t
yr
i
ght
sha
vei
nt
hepas
tbe
e
ni
gnor
e
d.
C)wi
l
lt
e
ndt
oha
vel
i
t
t
l
ei
mpac
tonane
c
onomys
i
nc
ei
nt
e
l
l
e
c
t
ualpr
ope
r
t
yi
snott
angi
bl
e
.
D)wi
l
lc
r
e
a
t
eas
t
r
onge
randmor
es
uc
c
e
s
s
f
ulbl
ac
kmar
ke
tf
ori
nt
e
l
l
e
c
t
ualpr
ope
r
t
y
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
51
Topi
c
:Pr
ope
r
t
yRi
ght
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
37)I
fana
t
i
onc
hange
si
t
sl
a
wst
omor
ea
c
t
i
ve
l
ye
nf
or
c
ei
nt
e
l
l
e
c
t
ualpr
ope
r
t
yr
i
ght
s
,al
loft
hef
ol
l
owi
ng
wi
l
lmos
tl
i
ke
l
yt
akepl
a
c
ee
x
c
e
p
t
A)mor
es
of
t
war
ec
ompani
e
swi
l
lc
hoos
et
oe
xpor
tt
he
i
rpr
oduc
t
st
ot
ha
tc
ount
r
y
.
B)mor
efil
m make
r
swi
l
lc
hoos
et
odobus
i
ne
s
si
nt
ha
tc
ount
r
y
.
C)t
hebl
ac
kmar
ke
tf
ori
nt
e
l
l
e
c
t
ualpr
ope
r
t
ywi
l
lbe
c
omemor
epr
os
pe
r
ousi
nt
ha
tc
ount
r
y
.
D)f
or
e
i
gni
nve
s
t
me
nti
nt
ha
tc
ount
r
ywi
l
li
nc
r
e
as
e
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
51
Topi
c
:Pr
ope
r
t
yRi
ght
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
38)I
ne
c
onomi
e
swi
t
hnoe
ffe
c
t
i
vegove
r
nme
nt
A)s
t
andar
dsofl
i
vi
ngar
et
ypi
c
al
l
yve
r
yl
ow.
B)s
t
andar
dsofl
i
vi
ngar
et
ypi
c
al
l
yve
r
yhi
gh.
C)s
t
andar
dsofl
i
vi
ngt
ypi
c
al
l
yr
i
s
er
api
dl
y
.
D)pe
opl
ec
e
as
et
obes
oma
t
e
r
i
al
i
s
t
i
c
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
52
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TooLi
t
t
l
eofaGoodThi
ng
39)Thepa
yme
ntr
e
c
e
i
ve
dbys
uppl
i
e
r
sofe
nt
r
e
pr
e
ne
ur
i
als
ki
l
l
si
sc
al
l
e
di
nt
e
r
e
s
t
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
48
Topi
c
:Fac
t
or
sofPr
oduc
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
88
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AACSB:Re
fle
c
t
i
veThi
nki
ng
40)I
nt
hec
i
r
c
ul
arflow mode
l
,hous
e
hol
dss
uppl
yr
e
s
our
c
e
ss
uc
hasl
abours
e
r
vi
c
e
si
nt
hepr
oduc
t
mar
ke
t
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
48
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
41)Ent
r
e
pr
e
ne
ur
sbr
i
ngt
oge
t
he
rt
hef
ac
t
or
sofpr
oduc
t
i
ont
opr
oduc
egoodsands
e
r
vi
c
e
s
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
48
Topi
c
:Fac
t
or
sofPr
oduc
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
42)I
naf
r
e
emar
ke
tt
he
r
ear
evi
r
t
ual
l
ynor
e
s
t
r
i
c
t
i
ons
,ora
tbe
s
tf
e
wr
e
s
t
r
i
c
t
i
onsonhow f
a
c
t
or
sof
pr
oduc
t
i
onc
anbee
mpl
oye
d.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
50
Topi
c
:Mar
ke
t
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
43)Cr
udeoi
li
snotane
xampl
eofaf
a
c
t
orofpr
oduc
t
i
on,butwhe
nc
r
udeoi
li
spr
oc
e
s
s
e
di
nt
ogas
ol
i
ne
,
i
ti
snotaf
a
c
t
orofpr
oduc
t
i
on.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
48
Topi
c
:Fac
t
or
sofPr
oduc
t
i
on
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
44)Eac
hpe
r
s
ongoe
sabouthe
rdai
l
ybus
i
ne
s
ss
e
e
ki
ngt
omaxi
mi
zehe
rowns
e
l
fi
nt
e
r
e
s
t
s
.I
ndoi
ngs
o,
s
hec
ont
r
i
but
e
st
ot
hewe
l
f
ar
eofs
oc
i
e
t
ya
tl
ar
ge
.Thi
si
st
hei
de
aunde
r
l
yi
ngAdam Smi
t
h'
s"
i
nvi
s
i
bl
e
hand.
"
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
5051
Topi
c
:Mar
ke
t
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
89
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45)Wha
ti
st
hedi
ffe
r
e
nc
ebe
t
we
e
npr
oduc
tmar
ke
t
sa
ndf
ac
t
ormar
ke
t
s
?
Ans
we
r
:Pr
oduc
tmar
ke
t
sar
emar
ke
t
sf
orgoodsands
e
r
vi
c
e
s
.Fa
c
t
ormar
ke
t
sar
emar
ke
t
sf
ort
hef
ac
t
or
s
ofpr
oduc
t
i
on,whi
c
har
et
hei
nput
sus
e
dt
omakegoodsands
e
r
vi
c
e
s
.
Di
ff:
1 Pa
geRe
f
:
4849
Topi
c
:Mar
ke
t
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
46)How dofir
msandhous
e
hol
dsi
nt
e
r
a
c
ti
nmar
ke
t
s
?
Ans
we
r
:Fi
r
mss
uppl
ygoodsands
e
r
vi
c
e
st
ohous
e
hol
ds
,andbuyf
a
c
t
or
sofpr
oduc
t
i
onf
r
om
hous
e
hol
ds
.Hous
e
hol
dss
uppl
yf
ac
t
or
sofpr
oduc
t
i
ont
ofir
ms
,andbuygoodsands
e
r
vi
c
e
sf
r
om fir
ms
.
Di
ff:
1 Pa
geRe
f
:
4849
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
47)Wha
ti
sme
antbyt
het
e
r
m"
f
r
e
emar
ke
t
"
?
Ans
we
r
:Af
r
e
emar
ke
ti
samar
ke
twi
t
hf
e
w gove
r
nme
ntr
e
s
t
r
i
c
t
i
onsonhow agoodors
e
r
vi
c
ec
anbe
pr
oduc
e
dors
ol
doronhow f
ac
t
or
sofpr
oduc
t
i
onc
a
nbee
mpl
oye
d.
Di
ff:
1 Pa
geRe
f
:
50
Topi
c
:Mar
ke
t
s
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
48)How doe
sAdam Smi
t
h'
si
de
aoft
he"
i
nvi
s
i
bl
ehand"appl
yt
ot
hevar
i
ouspar
t
s
,madebymany
di
ffe
r
e
ntmanuf
ac
t
ur
e
r
si
nmanydi
ffe
r
e
ntc
ount
r
i
e
s
,
t
ha
tar
eus
e
dbyAppl
et
opr
oduc
eani
Pad?
Ans
we
r
:Smi
t
hus
e
dt
he"
i
nvi
s
i
bl
ehand"r
e
f
e
r
e
nc
et
oe
xpl
ai
nwhymar
ke
t
spr
ovi
dec
ons
ume
r
swi
t
h
de
s
i
r
e
dpr
oduc
t
sands
e
r
vi
c
e
s
.I
nt
hec
as
eoft
hei
Pad,t
hei
nvi
s
i
bl
ehandoft
hemar
ke
thasl
e
dt
he
s
e
par
t
smanuf
ac
t
ur
e
r
st
oc
ont
r
i
but
et
he
i
rknowl
e
dgeandr
e
s
our
c
e
st
ot
hepr
oc
e
s
st
ha
tul
t
i
ma
t
e
l
yr
e
s
ul
t
si
n
apr
oduc
ta
vai
l
abl
ef
ors
al
ei
nt
heUni
t
e
dSt
a
t
e
sa
ndar
oundt
hewor
l
d.
Di
ff:
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5051
Topi
c
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ke
t
s
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ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:ASt
or
yoft
heMar
ke
tS
ys
t
e
mi
nAc
t
i
on:
How DoYouMakeani
Pad?
49)Whi
c
hoft
hef
ol
l
owi
ngi
saf
a
c
t
orofpr
oduc
t
i
on?
A)as
of
apr
oduc
e
dbyaf
ur
ni
t
ur
emanuf
ac
t
ur
e
r
B)20s
har
e
sofMi
c
r
os
of
ts
t
oc
k
C)t
hej
ani
t
ora
tt
hel
oc
ale
l
e
me
nt
ar
ys
c
hool
D)$500i
nc
as
h
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we
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Di
ff:
2 Pa
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f
:
48
Topi
c
:Fac
t
or
sofPr
oduc
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
90
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50)Ane
xampl
eofaf
ac
t
orofpr
oduc
t
i
oni
s
A)ac
arpr
oduc
e
dbyanaut
omanuf
ac
t
ur
e
r
.
B)awor
ke
rhi
r
e
dbyanaut
omanuf
ac
t
ur
e
r
.
C)al
oangr
ant
e
dt
oanaut
omanuf
ac
t
ur
e
r
.
D)t
heaut
omobi
l
e
se
xpor
t
e
dbyanaut
omanuf
ac
t
ur
e
r
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
48
Topi
c
:Fac
t
or
sofPr
oduc
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
51)I
fami
c
r
obr
e
we
r
ywant
st
opur
c
has
eane
w bot
t
l
i
ngmac
hi
ne
,i
tdoe
ss
oi
nt
he
A)f
ac
t
ormar
ke
t
.
B)out
putmar
ke
t
.
C)pr
oduc
tmar
ke
t
.
D)al
c
ohol
i
cbe
ve
r
a
ge
smar
ke
t
.
Ans
we
r
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Di
ff:
1 Pa
geRe
f
:
4849
Topi
c
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ke
t
s
2CE:1
CE
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ar
ni
ngOut
c
ome
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c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
52)Awor
ke
ri
shi
r
e
di
na
A)goodsands
e
r
vi
c
e
smar
ke
t
.
B)pr
oduc
tmar
ke
t
.
C)gove
r
nme
ntmar
ke
t
.
D)f
ac
t
ormar
ke
t
.
Ans
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Di
ff:
1 Pa
geRe
f
:
4849
Topi
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ke
t
s
2CE:1
CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
53)Whe
nyoupur
c
has
eabi
c
yc
l
eyoudos
oi
nt
he
A)r
e
s
our
c
emar
ke
t
.
B)pr
oduc
tmar
ke
t
.
C)i
nputmar
ke
t
.
D)f
ac
t
ormar
ke
t
.
Ans
we
r
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Di
ff:
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geRe
f
:
4849
Topi
c
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ke
t
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
91
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54)Thei
nc
omee
ar
ne
dbyt
hos
ewhos
uppl
yl
abours
e
r
vi
c
e
si
sc
al
l
e
d
A)wa
ge
sands
al
ar
i
e
s
.
B)s
t
oc
kopt
i
ons
.
C)pr
ofit
.
D)bonus
.
Ans
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Di
ff:
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4849
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or
sofPr
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t
i
on
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CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
55)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
saboutane
nt
r
e
pr
e
ne
uri
st
r
ue
?
A)Ane
nt
r
e
pr
e
ne
urpur
c
has
e
sot
he
rf
ac
t
or
sofpr
oduc
t
i
oni
nt
heout
putmar
ke
t
.
B)Ane
nt
r
e
pr
e
ne
urde
ve
l
opst
hevi
s
i
onf
ort
hefir
m andf
undst
hepr
oduc
i
nguni
t
.
C)Ane
nt
r
e
pr
e
ne
urs
e
l
l
se
nt
r
e
pr
e
ne
ur
i
als
e
r
vi
c
e
si
nt
heout
putmar
ke
t
.
D)Ane
nt
r
e
pr
e
ne
urdoe
snotf
ac
epe
r
s
onalr
i
s
k.
Ans
we
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Di
ff:
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f
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4849
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t
or
sofPr
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i
on
2CE:1
CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
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us
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ffe
r
e
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ype
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ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
56)Thec
i
r
c
ul
arflow mode
lde
mons
t
r
a
t
e
s
A)t
her
ol
eoft
hegove
r
nme
nti
nove
r
s
e
e
i
ngt
hemar
ke
ts
ys
t
e
m.
B)t
her
ol
e
spl
a
ye
dbyhous
e
hol
dsandfir
msi
nt
hemar
ke
ts
ys
t
e
m.
C)how s
hor
t
a
ge
sands
ur
pl
us
e
sar
ee
l
i
mi
na
t
e
di
namar
ke
t
.
D)how de
mandands
uppl
yf
orgoodsands
e
r
vi
c
e
sar
ebr
oughti
nt
oe
qui
l
i
br
i
um.
Ans
we
r
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ff:
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4849
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r
c
ul
arFl
ow ofI
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ome
2CE:1
CE
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ar
ni
ngOut
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ome
:Mi
c
r
o3:
Di
s
c
us
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ffe
r
e
ntt
ype
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ke
ts
ys
t
e
msandt
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nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
57)Thec
i
r
c
ul
arflow s
howsust
ha
t
A)fir
msandhous
e
hol
dsde
pe
ndone
ac
hot
he
r
.
B)fir
msmakeal
lt
hei
mpor
t
antde
c
i
s
i
onsi
nt
hee
c
onomy
.
C)hous
e
hol
dsha
venor
ol
ei
nt
hee
c
onomybe
yondc
ons
umi
ngpr
oduc
t
s
.
D)fir
msar
et
heul
t
i
ma
t
ec
ons
ume
r
si
nt
hee
c
onomy
.
Ans
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arFl
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ome
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wt
o2
CE
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
92
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58)Fi
r
ms
A)ha
venoi
nflue
nc
eont
hec
i
r
c
ul
arflow i
namar
ke
te
c
onomy
.
B)pur
c
has
er
e
s
our
c
e
si
nt
hepr
oduc
tmar
ke
t
.
C)s
e
l
lgoodsi
nt
hepr
oduc
tmar
ke
t
.
D)s
e
l
lr
e
s
our
c
e
si
nt
hef
ac
t
ormar
ke
t
.
Ans
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r
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Di
ff:
1 Pa
geRe
f
:
4849
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c
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r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
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ke
ts
ys
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msandt
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tc
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r
om t
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AACSB:Re
fle
c
t
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veThi
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59)Hous
e
hol
ds
A)pur
c
has
efinalgoodsands
e
r
vi
c
e
si
nt
hef
a
c
t
ormar
ke
t
.
B)pur
c
has
efinalgoodsands
e
r
vi
c
e
si
nt
hepr
oduc
tmar
ke
t
.
C)pur
c
has
er
e
s
our
c
e
si
nt
hepr
oduc
tmar
ke
t
.
D)pur
c
has
er
e
s
our
c
e
si
nt
hef
ac
t
ormar
ke
t
.
Ans
we
r
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Di
ff:
1 Pa
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f
:
4849
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c
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r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
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ar
ni
ngOut
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ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
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ype
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ke
ts
ys
t
e
msandt
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ha
tc
anbemadef
r
om t
r
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AACSB:Re
fle
c
t
i
veThi
nki
ng
60)I
nt
hec
i
r
c
ul
arflow mode
l
,hous
e
hol
ds
A)s
e
l
lgoodsands
e
r
vi
c
e
si
nt
hei
nputmar
ke
t
.
B)andfir
mss
pe
nde
ar
ni
ngsf
r
om r
e
s
our
c
es
al
e
songoodsands
e
r
vi
c
e
si
nt
hef
ac
t
ormar
ke
t
.
C)hi
r
er
e
s
our
c
e
ss
ol
dbyfir
msi
nt
hef
a
c
t
ormar
ke
t
.
D)s
pe
nde
ar
ni
ngsf
r
om r
e
s
our
c
es
al
e
songoodsands
e
r
vi
c
e
si
nt
hepr
oduc
tmar
ke
t
.
Ans
we
r
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Di
ff:
1 Pa
geRe
f
:
4849
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c
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r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o20:
Appl
yt
hec
onc
e
pt
sofoppor
t
uni
t
yc
os
t
,mar
gi
nalanal
ys
i
s
,
andpr
e
s
e
ntva
l
uet
omake
de
c
i
s
i
ons
AACSB:Re
fle
c
t
i
veThi
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ng
61)Whi
c
hoft
hef
ol
l
owi
ngi
sno
taflow i
nt
hec
i
r
c
ul
arflow mode
l
?
A)t
heflow ofgoodsands
e
r
vi
c
e
sandt
heflow ofr
e
s
our
c
e
st
opr
oduc
egoodsands
e
r
vi
c
e
s
B)t
heflow ofpr
ofitandt
heflow ofr
e
ve
nue
C)t
heflow ofi
nc
omee
ar
ne
dbyhous
e
hol
dsandt
heflow ofe
xpe
ndi
t
ur
e
si
nc
ur
r
e
dbyhous
e
hol
ds
D)t
heflow ofr
e
ve
nuer
e
c
e
i
ve
dbypr
oduc
e
r
sandt
heflow ofpa
yme
nt
st
or
e
s
our
c
eowne
r
s
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ff:
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r
c
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arFl
ow ofI
nc
ome
2CE:1
CE
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ar
ni
ngOut
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ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
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e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
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ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
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Fi
gur
e2.
19
62)Re
f
e
rt
oFi
g
ur
e2.
19.I
nt
hec
i
r
c
ul
arflow di
a
gr
am,Mar
ke
tKr
e
pr
e
s
e
nt
s
A)hous
e
hol
ds
.
B)pr
oduc
tmar
ke
t
s
.
C)fir
ms
.
D)f
ac
t
ormar
ke
t
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
63)Re
f
e
rt
oFi
g
ur
e2.
19.I
nt
hec
i
r
c
ul
arflow di
a
gr
am,Ec
onomi
cAge
nt
sM r
e
pr
e
s
e
nt
s
A)hous
e
hol
ds
.
B)pr
oduc
tmar
ke
t
s
.
C)fir
ms
.
D)f
ac
t
ormar
ke
t
s
.
Ans
we
r
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Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
94
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64)Whi
c
hoft
hef
ol
l
owi
ngar
er
e
pr
e
s
e
nt
e
dbyt
hes
ameflow i
nt
hec
i
r
c
ul
arflow mode
l
?
A)t
heflow ofgoodsandt
heflow off
ac
t
or
sofpr
oduc
t
i
on
B)t
heflow ofc
os
t
sandt
heflow ofr
e
ve
nue
C)t
heflow ofi
nc
omee
ar
ne
df
r
om t
hes
al
eofr
e
s
our
c
e
sandt
heflow ofe
xpe
ndi
t
ur
e
songoodsand
s
e
r
vi
c
e
s
D)t
heflow ofi
nc
omer
e
c
e
i
ve
dbyhous
e
hol
dsandt
heflow oft
axr
e
ve
nue
spai
dbyfir
ms
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
65)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ueaboutas
i
mpl
ec
i
r
c
ul
arflow mode
l
?
A)Pr
oduc
e
r
sar
ene
i
t
he
rbuye
r
snors
e
l
l
e
r
si
nt
hepr
oduc
tmar
ke
t
.
B)Hous
e
hol
dsar
ene
i
t
he
rbuye
r
snors
e
l
l
e
r
si
nt
hei
nputmar
ke
t
.
C)Pr
oduc
e
r
sar
ebuye
r
si
nt
hef
a
c
t
ormar
ke
t
.
D)Hous
e
hol
dsar
es
e
l
l
e
r
si
nt
hepr
oduc
tmar
ke
t
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
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Fi
gur
e2.
20
66)Re
f
e
rt
oFi
g
ur
e2.
20.I
nt
hec
i
r
c
ul
arflow di
a
gr
am,whoar
eEc
onomi
cAge
nt
sAandwhoar
e
Ec
onomi
cAge
nt
sB?
A)A=fir
ms
;B=hous
e
hol
ds
B)A=hous
e
hol
ds
;B=fir
ms
C)A=hous
e
hol
ds
;B=f
a
c
t
ormar
ke
t
s
D)A=fir
ms
;B=pr
oduc
tmar
ke
t
s
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
96
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Fi
gur
e2.
21
67)Re
f
e
rt
oFi
g
ur
e2.
21.Ones
e
gme
ntoft
hec
i
r
c
ul
arflow di
a
gr
am i
nFi
gur
e2.
21s
howst
heflow off
unds
f
r
om Mar
ke
tFt
oEc
onomi
cAge
nt
sG.Thef
undsr
e
pr
e
s
e
nts
pe
ndi
ngongoodsands
e
r
vi
c
e
s
.Wha
ti
s
Mar
ke
tFandwhoar
eEc
onomi
cAge
nt
sG?
A)F=f
ac
t
ormar
ke
t
s
;G=hous
e
hol
ds
B)F=pr
oduc
tmar
ke
t
s
;G=hous
e
hol
ds
C)F=f
a
c
t
ormar
ke
t
s
;G=fir
ms
D)F=pr
oduc
tmar
ke
t
s
;G=fir
ms
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
68)Whi
c
hoft
hef
ol
l
owi
ngi
sane
xampl
eofs
pe
ndi
ngonf
ac
t
or
sofpr
oduc
t
i
oni
nt
hec
i
r
c
ul
arflow
mode
l
?
A)Tuonpur
c
has
e
sac
appuc
c
i
noa
tt
hes
t
ude
ntuni
on.
B)Laur
e
nc
er
e
nt
sac
art
odr
i
vet
oawe
ddi
ngi
nMont
r
e
al
.
C)Yve
t
t
epa
ys$50t
oj
oi
nas
of
t
bal
ll
e
a
gue
.
D)The"
Luc
kyDuc
ky"c
as
i
nobuysane
wc
r
apst
abl
ef
ort
hec
as
i
nofloor
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
97
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69)Whi
c
hoft
hef
ol
l
owi
ngi
sno
tane
xampl
eofs
pe
ndi
ngongoodsands
e
r
vi
c
e
si
nt
hec
i
r
c
ul
arflow
mode
l
?
A)Amandapur
c
has
e
sane
we
l
e
c
t
r
i
cgui
t
art
opur
s
uehe
rhobbys
e
r
i
ous
l
y
.
B)Chai
t
anyabuysane
ws
pape
di
c
ur
ec
hai
rf
orhe
re
xpandi
ngnai
ls
al
onbus
i
ne
s
s
.
C)He
r
nanbuysapi
zzaa
tPapaC'
s
.
D)Le
nnybuysane
w di
gi
t
alc
ame
r
at
ot
a
kepi
c
t
ur
e
sa
thi
ss
on'
sgr
adua
t
i
on.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
70)Publ
i
s
he
di
n1776,________waswr
i
t
t
e
nbyAdam Smi
t
h.
A)TheGe
ne
r
a
lTh
e
o
r
yo
fEmpl
o
y
me
nt
,I
nt
e
r
e
s
t
,a
ndMo
ne
y
B)TheCo
mmuni
s
tMa
ni
f
e
s
t
o
C)TheDe
c
l
a
r
a
t
i
o
no
fEc
o
no
mi
c
s
D)AnI
nq
ui
r
yi
nt
ot
heNa
t
ur
ea
ndCa
us
e
so
ft
heWe
a
l
t
ho
fNa
t
i
o
ns
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
50
Topi
c
:Mar
ke
t
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o1:
I
de
nt
i
f
yt
hebas
i
cpr
i
nc
i
pl
e
sofe
c
onomi
c
sande
xpl
ai
nhow t
ot
hi
nkl
i
keane
c
onomi
s
t
AACSB:Re
fle
c
t
i
veThi
nki
ng
98
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Fi
gur
e2.
22
71)Re
f
e
rt
oFi
g
ur
e2.
22.Whi
c
ht
woar
r
owsi
nt
hedi
a
gr
am de
pi
c
tt
hef
ol
l
owi
ngt
r
ans
a
c
t
i
on?St
anl
e
y
pur
c
has
e
st
henove
lNi
g
hto
fSo
r
r
o
wsf
orhi
ss
umme
rr
e
adi
ngpl
e
as
ur
e
.
A)JandM
B)JandG
C)KandM
D)KandG
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
72)Re
f
e
rt
oFi
g
ur
e2.
22.Whi
c
ht
woar
r
owsi
nt
hedi
a
gr
am de
pi
c
tt
hef
ol
l
owi
ngt
r
ans
a
c
t
i
on?Li
zzi
e
Hax
e
m hi
r
e
sCol
l
e
gePr
oPai
nt
e
r
s
,apai
nt
i
ngc
ompany
,t
opai
nthe
rhome
.
A)JandM
B)KandG
C)KandM
D)JandG
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
99
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73)Re
f
e
rt
oFi
g
ur
e2.
22.Whi
c
ht
woar
r
owsi
nt
hedi
a
gr
am de
pi
c
tt
hef
ol
l
owi
ngt
r
ans
a
c
t
i
on?Car
t
e
re
ar
ns
a$400c
ommi
s
s
i
onf
ors
e
l
l
i
ngme
n'
sde
s
i
gne
rs
hoe
sa
tMoor
e
s
.
A)JandM
B)KandG
C)KandM
D)JandG
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
49
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o2:
I
nt
e
r
pr
e
tandanal
yzei
nf
or
ma
t
i
onpr
e
s
e
nt
e
di
ndi
ffe
r
e
ntt
ype
sofgr
aphs
AACSB:Re
fle
c
t
i
veThi
nki
ng
74)________be
ha
vi
our
alas
s
umpt
i
onabouthumanswast
ha
tpe
opl
eus
ual
l
yac
ti
nar
a
t
i
onal
,s
e
l
f
i
nt
e
r
e
s
t
e
dwa
y
.
A)ThomasMal
t
hus
'
s
B)Adam Smi
t
h'
s
C)Kar
lMa
r
x'
s
D)J
ane
tYe
l
l
e
n'
s
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
50
Topi
c
:Mar
ke
t
s
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o1:
I
de
nt
i
f
yt
hebas
i
cpr
i
nc
i
pl
e
sofe
c
onomi
c
sande
xpl
ai
nhow t
ot
hi
nkl
i
keane
c
onomi
s
t
AACSB:Re
fle
c
t
i
veThi
nki
ng
75)Whi
c
hoft
hef
ol
l
owi
ngc
ount
r
i
e
si
sc
ur
r
e
nt
l
yf
ur
t
he
s
tf
r
om t
hef
r
e
emar
ke
tbe
nc
hmar
k?
A)t
heUni
t
e
dSt
a
t
e
s
B)J
apan
C)Cuba
D)Fr
anc
e
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
51
Topi
c
:Mar
ke
t
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
76)Adam Smi
t
h'
s________r
e
f
e
r
st
ot
hepr
oc
e
s
sbywhi
c
hi
ndi
vi
dual
sac
t
i
ngi
nt
he
i
rowns
e
l
f
i
nt
e
r
e
s
t
br
i
ngaboutamar
ke
tout
c
omet
ha
tbe
ne
fit
ss
oc
i
e
t
ya
sawhol
e
.
A)Ut
opi
ans
oc
i
e
t
y
B)c
ompar
a
t
i
veadvant
a
gemode
l
C)i
nvi
s
i
bl
ehand
D)s
ur
vi
valoft
hefit
t
e
s
tt
he
or
y
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
50
Topi
c
:Mar
ke
t
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o1:
I
de
nt
i
f
yt
hebas
i
cpr
i
nc
i
pl
e
sofe
c
onomi
c
sande
xpl
ai
nhow t
ot
hi
nkl
i
keane
c
onomi
s
t
AACSB:Re
fle
c
t
i
veThi
nki
ng
77)Whe
nBl
ac
kBe
r
r
ymadei
t
sLe
aps
mar
tphone
,i
tr
e
l
i
e
don
A)t
hemar
ke
tt
oc
oor
di
na
t
emos
toft
hepr
oduc
t
i
on.
B)i
t
se
mpl
oye
e
st
oc
oor
di
na
t
emos
toft
hepr
oduc
t
i
on.
C)t
hef
e
de
r
algove
r
nme
ntt
oc
oor
di
na
t
emos
toft
hepr
oduc
t
i
on.
D)t
hegui
l
dofe
l
e
c
t
r
oni
c
se
ngi
ne
e
r
st
oc
oor
di
na
t
emos
toft
hepr
oduc
t
i
on.
Ans
we
r
:A
100
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Di
ff:
1 Pa
geRe
f
:
50
Topi
c
:Mar
ke
tEc
onomi
e
s
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:2
.
2Unde
r
s
t
andc
ompar
a
t
i
veadvant
a
geande
xpl
ai
nhow i
ti
st
hebas
i
sf
ort
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:ASt
or
yoft
heMar
ke
tS
ys
t
e
mi
nAc
t
i
on:
How DoYouMakeaSmar
tPhone
?
78)Ac
r
i
t
i
c
alf
unc
t
i
onoft
hegove
r
nme
nti
nf
ac
i
l
i
t
a
t
i
ngt
heope
r
a
t
i
onofamar
ke
te
c
onomyi
s
A)pr
oduc
i
nggoodsands
e
r
vi
c
e
sf
orl
owi
nc
omehous
e
hol
ds
.
B)s
e
t
t
i
ngupande
nf
or
c
i
ngpr
i
va
t
epr
ope
r
t
yr
i
ght
s
.
C)e
ns
ur
i
ngane
qualdi
s
t
r
i
but
i
onofi
nc
omet
oal
lc
i
t
i
ze
ns
.
D)c
ont
r
ol
l
i
ngt
hemar
ke
tpr
i
c
e
sofe
s
s
e
nt
i
als
e
r
vi
c
e
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
51
Topi
c
:Mar
ke
t
s
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TooLi
t
t
l
eofaGoodThi
ng
79)Theabi
l
i
t
yt
oe
x
e
r
c
i
s
ec
ont
r
olove
rone
'
sownr
e
s
our
c
e
swi
t
hi
nt
hec
onfine
soft
hel
a
wr
e
f
e
r
st
o
A)t
hef
r
e
emar
ke
t
.
B)pr
ope
r
t
yr
i
ght
s
.
C)e
nt
r
e
pr
e
ne
ur
s
hi
p.
D)ha
vi
nganabs
ol
ut
eadvant
a
ge
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
51
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
80)Thepr
i
mar
ypur
pos
eofpa
t
e
nt
sandc
opyr
i
ght
si
st
o
A)pr
ovi
deowne
r
swi
t
hl
ar
gepr
ofitf
or
e
ve
r
.
B)pr
ot
e
c
tfir
msf
r
om be
i
ngt
ake
nadvant
a
geofbyc
ompe
t
i
ngfir
ms
.
C)pr
ot
e
c
tdome
s
t
i
cfir
msf
r
om f
or
e
i
gnc
ompe
t
i
t
i
on.
D)e
nc
our
a
get
hee
xpe
ndi
t
ur
eoff
undsonr
e
s
e
ar
c
handde
ve
l
opme
ntt
oc
r
e
a
t
ene
w pr
oduc
t
s
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
51
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
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AACSB:Re
fle
c
t
i
veThi
nki
ng
101
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81)I
fpr
ope
r
t
yr
i
ght
sar
enotwe
l
le
nf
or
c
e
d,whi
c
hoft
hef
ol
l
owi
ngi
sno
tl
i
ke
l
yt
ooc
c
ur
?
A)Fe
we
rgoodsands
e
r
vi
c
e
swi
l
lbepr
oduc
e
d.
B)Ec
onomi
ce
ffic
i
e
nc
ywi
l
lber
e
duc
e
d.
C)Ane
c
onomywi
l
lpr
oduc
ei
ns
i
dei
t
spr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
r
.
D)As
i
gni
fic
antnumbe
rofpe
opl
ewi
l
lbewi
l
l
i
ngt
or
i
s
kt
he
i
rf
undsbyi
nve
s
t
i
ngt
he
mi
nl
oc
al
bus
i
ne
s
s
e
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
5152
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
82)As
uc
c
e
s
s
f
ulmar
ke
te
c
onomyr
e
qui
r
e
swe
l
l
de
fine
dpr
ope
r
t
yr
i
ght
sand
A)bal
anc
e
ds
uppl
i
e
sofal
lf
ac
t
or
sofpr
oduc
t
i
on.
B)ani
nde
pe
nde
ntc
our
ts
ys
t
e
mt
oadj
udi
c
a
t
edi
s
put
e
sbas
e
dont
hel
a
w.
C)de
t
ai
l
e
dgove
r
nme
ntr
e
gul
a
t
i
ons
.
D)as
af
e
t
yne
tt
oe
ns
ur
et
ha
tt
hos
ewhoc
annotpar
t
i
c
i
pa
t
ei
nt
hemar
ke
te
c
onomyc
ane
ar
nani
nc
ome
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
51
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
hegai
nst
ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TooLi
t
t
l
eofaGoodThi
ng
83)Al
loft
hef
ol
l
owi
ngar
ec
ons
i
de
r
e
di
nt
e
l
l
e
c
t
ua
lpr
ope
r
t
ye
x
c
e
p
t
A)books
.
B)fil
ms
.
C)s
of
t
war
e
.
D)s
har
e
sofs
t
oc
k.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
5152
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
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ha
tc
anbemadef
r
om t
r
ade
AACSB:Re
fle
c
t
i
veThi
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ng
84)I
nCanada
,pr
ope
r
t
yr
i
ght
sar
eunde
rt
hej
ur
i
s
di
c
t
i
onof
A)bot
hf
e
de
r
alandpr
ovi
nc
i
algove
r
nme
nt
s
.
B)pr
ovi
nc
i
algove
r
nme
nt
sonl
y
.
C)t
hef
e
de
r
algove
r
nme
ntonl
y
.
D)muni
c
i
palgove
r
nme
nt
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
5152
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
3Expl
ai
nt
hebas
i
ci
de
aofhow amar
ke
ts
ys
t
e
m wor
ks
AACSB:Re
fle
c
t
i
veThi
nki
ng
102
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85)I
nmos
tpr
ovi
nc
e
s
,pr
ovi
nc
i
alpr
ope
r
t
yr
i
ght
sl
a
wi
sknownas
A)t
heSa
l
eo
fGo
o
dsAc
t
.
B)t
hePr
o
pe
r
t
yRi
g
ht
sAc
t
.
C)s
ome
t
hi
ngdi
ffe
r
e
nti
ne
ac
hpr
ovi
nc
e
.
D)t
hePur
c
ha
s
ea
ndSa
l
eAc
t
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
5152
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:2
.
1Us
eapr
oduc
t
i
onpos
s
i
bi
l
i
t
i
e
sf
r
ont
i
e
rt
oanal
yzeoppor
t
uni
t
yc
os
t
sandt
r
ade
offs
AACSB:Re
fle
c
t
i
veThi
nki
ng
86)Agui
l
di
s
A)agr
oupofi
nde
pe
nde
ntpr
oduc
e
r
sc
ompe
t
i
ngwi
t
he
ac
hot
he
r
.
B)anor
gani
za
t
i
onofpr
oduc
e
r
st
ha
tl
i
mi
t
st
heamountofagoodpr
oduc
e
d.
C)agr
oupofna
t
i
onswhoa
gr
e
enott
oc
ompe
t
ewi
t
he
ac
hot
he
r
.
D)ana
t
i
ont
ha
ti
saf
r
e
emar
ke
tbe
nc
hmar
k.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
5051
Topi
c
:Mar
ke
t
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
ntt
ype
sofmar
ke
ts
ys
t
e
msandt
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nst
ha
tc
anbemadef
r
om t
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AACSB:Re
fle
c
t
i
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ng
87)I
n18t
hc
e
nt
ur
yEur
ope
,gove
r
nme
nt
sga
vegui
l
dsl
e
galaut
hor
i
t
yt
ol
i
mi
tpr
oduc
t
i
onofgoods
.Thi
s
aut
hor
i
t
yobs
t
r
uc
t
e
dt
hemar
ke
tme
c
hani
s
m be
c
aus
et
hegui
l
d'
sac
t
i
onspr
e
ve
nt
e
dt
hef
or
c
e
sof________
f
r
om c
oor
di
na
t
i
ngt
hes
e
l
f
i
nt
e
r
e
s
t
e
dde
c
i
s
i
onsofpr
oduc
e
r
sandc
ons
ume
r
s
.
A)abs
ol
ut
eadvant
a
ge
B)de
mandands
uppl
y
C)oppor
t
uni
t
yc
os
t
D)na
t
ur
e
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
5051
Topi
c
:Mar
ke
t
s
2CE:1
CE
Le
ar
ni
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c
ome
:Mi
c
r
o3:
Di
s
c
us
sdi
ffe
r
e
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ype
sofmar
ke
ts
ys
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nst
ha
tc
anbemadef
r
om t
r
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AACSB:Re
fle
c
t
i
veThi
nki
ng
88)Whe
nac
e
l
e
br
i
t
yhast
hede
s
i
r
et
oha
vehi
si
ma
gepr
ot
e
c
t
e
df
ol
l
owi
nghi
sde
a
t
h,t
hi
si
sbe
s
tde
s
c
r
i
be
d
asane
xampl
eoft
hepr
ot
e
c
t
i
onof
A)ani
nve
nt
i
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B)apa
t
e
nt
.
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r
ade
mar
k.
D)i
nt
e
l
l
e
c
t
ualpr
ope
r
t
y
.
Ans
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r
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Di
ff:
2 Pa
geRe
f
:
51
Topi
c
:Pr
ope
r
t
yRi
ght
s
2CE:1
CE
Le
ar
ni
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ome
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c
r
o5:
Li
s
twa
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r
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sande
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ai
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que
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e
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s
uc
hi
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89)I
nt
hede
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i
r
et
oha
veac
e
l
e
br
i
t
y'
si
ma
gepr
ot
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t
e
dt
opr
e
ve
nti
tf
r
om be
i
ngus
e
di
nwa
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appr
ove
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i
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se
s
t
a
t
e
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obabl
ynotbes
uc
c
e
s
s
f
ul
,s
i
nc
et
he
r
ear
enol
a
wsr
e
gul
a
t
i
ngt
hi
ski
ndofus
ei
nCanada
.
B)wi
l
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vet
obegr
ant
e
dapa
t
e
ntde
c
l
ar
i
ngt
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l
e
br
i
t
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si
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w pr
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hi
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vet
he
e
s
t
a
t
epr
ot
e
c
t
i
onf
or7ye
ar
s
.
103
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C)c
anr
e
l
yonCanadi
anl
a
wst
ha
tpr
ot
e
c
ti
nt
e
l
l
e
c
t
ualpr
ope
r
t
yr
i
ght
st
opr
e
ve
ntt
heunaut
hor
i
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dus
eof
hi
si
ma
ge
.
D)wi
l
lmos
tl
i
ke
l
ybemor
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uc
c
e
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s
f
uli
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ve
l
opi
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ount
r
i
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st
hani
nhi
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nc
omec
ount
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i
e
s
,s
i
nc
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pr
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r
t
yr
e
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a
t
i
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ebe
t
t
e
re
nf
or
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e
di
nde
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ount
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e
c
e
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nt
r
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l
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al
l
e
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.
Ans
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Di
ff:
1 Pa
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f
:
4849
Topi
c
:Fac
t
or
sofPr
oduc
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
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c
r
o3:
Di
s
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ffe
r
e
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ke
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ys
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91)I
nt
hec
i
r
c
ul
arflow mode
l
,hous
e
hol
dsde
mandr
e
s
our
c
e
ss
uc
hasl
abours
e
r
vi
c
e
si
nt
hepr
oduc
t
mar
ke
t
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
4849
Topi
c
:TheCi
r
c
ul
arFl
ow ofI
nc
ome
2CE:1
CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o3:
Di
s
c
us
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ffe
r
e
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ke
ts
ys
t
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msandt
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tc
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92)I
ne
c
onomi
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,t
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e
r
m"
f
r
e
emar
ke
t
"r
e
f
e
r
st
oamar
ke
twhe
r
enos
al
e
st
axi
si
mpos
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donpr
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s
ol
d.
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r
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ALSE
Di
ff:
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f
:
5051
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ar
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ome
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c
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o3:
Di
s
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e
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e
msandt
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ha
tc
anbemadef
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om t
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c
t
i
veThi
nki
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104
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93)I
naf
r
e
emar
ke
tt
he
r
ear
evi
r
t
ual
l
ynor
e
s
t
r
i
c
t
i
ons
,ora
tbe
s
tf
e
wr
e
s
t
r
i
c
t
i
ons
,onhow agoodor
s
e
r
vi
c
ec
anbepr
oduc
e
dors
ol
d.
Ans
we
r
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Di
ff:
1 Pa
geRe
f
:
5051
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c
:Mar
ke
t
s
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CE
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ar
ni
ngOut
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ome
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r
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us
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ffe
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e
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ype
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ys
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94)As
t
andofr
e
dwoodt
r
e
e
si
snotane
xampl
eofaf
a
c
t
orofpr
oduc
t
i
onbutt
hehar
ve
s
t
e
dand
pr
oc
e
s
s
e
dr
e
dwoodi
saf
a
c
t
orofpr
oduc
t
i
on.
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r
:F
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ff:
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f
:
4849
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ar
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ome
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o3:
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s
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us
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ffe
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e
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ype
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ys
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95)Thei
de
aunde
r
l
yi
ngAdam Smi
t
h'
s"
i
nvi
s
i
bl
ehand"i
st
ha
tpe
opl
et
e
ndt
obe
ha
vei
nwa
yst
ha
tgo
unnot
i
c
e
di
ns
oc
i
e
t
y
.
Ans
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r
:F
ALSE
Di
ff:
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50
Topi
c
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s
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ar
ni
ngOut
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ome
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c
r
o3:
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s
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us
sdi
ffe
r
e
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ype
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ke
ts
ys
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e
msandt
hegai
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ha
tc
anbemadef
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om t
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fle
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t
i
veThi
nki
ng
96)I
nas
i
mpl
ec
i
r
c
ul
arflow di
a
gr
am,whos
uppl
i
e
sf
ac
t
or
sofpr
oduc
t
i
oni
nmar
ke
t
sandwhobuys
t
he
s
ef
ac
t
or
sofpr
oduc
t
i
on?Whos
uppl
i
e
sgoodsands
e
r
vi
c
e
si
nmar
ke
t
sandwhobuyst
he
s
egoodsand
s
e
r
vi
c
e
s
?
Ans
we
r
:Hous
e
hol
dss
uppl
yf
ac
t
or
sofpr
oduc
t
i
onandbuygoodsands
e
r
vi
c
e
si
nmar
ke
t
s
.Fi
r
msbuy
f
ac
t
or
sofpr
oduc
t
i
onands
uppl
ygoodsands
e
r
vi
c
e
si
nmar
ke
t
s
.
Di
ff:
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geRe
f
:
4849
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c
ul
arFl
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ome
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ar
ni
ngOut
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ome
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c
r
o3:
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s
c
us
sdi
ffe
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e
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ype
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ke
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ys
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e
msandt
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tc
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97)Li
s
tt
hef
ourbr
oadc
a
t
e
gor
i
e
soff
a
c
t
or
sofpr
oduc
t
i
on.
Ans
we
r
:l
abour
,c
api
t
al
,na
t
ur
alr
e
s
our
c
e
s
,ande
nt
r
e
pr
e
ne
ur
s
hi
p
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ff:
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t
or
sofPr
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i
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ar
ni
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ome
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s
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us
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ffe
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e
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ype
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tc
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c
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105
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98)De
finet
het
e
r
m"
pr
ope
r
t
yr
i
ght
s
.
"Expl
ai
nwhyt
hel
ac
kofwe
l
l
de
fine
dande
nf
or
c
e
abl
epr
ope
r
t
y
r
i
ght
si
sde
t
r
i
me
nt
alt
ot
hes
moot
hf
unc
t
i
oni
ngofamar
ke
ts
ys
t
e
m.
Ans
we
r
:Thet
e
r
m"
pr
ope
r
t
yr
i
ght
s
"r
e
f
e
r
st
ot
her
i
ght
st
ha
ti
ndi
vi
dual
sorfir
msha
vet
ot
hee
x
c
l
us
i
ve
us
eoft
he
i
rr
e
s
our
c
e
s
,wi
t
hi
nt
hec
onfine
soft
hel
a
w.We
l
l
de
fine
dande
nf
or
c
e
abl
epr
ope
r
t
yr
i
ght
s
pr
ovi
det
hei
nc
e
nt
i
vef
orpe
opl
eandfir
mst
oi
nve
s
tr
e
s
our
c
e
sandunde
r
t
aker
i
s
ks
.Thi
se
nc
our
a
ge
st
he
pr
oduc
t
i
onofawi
der
angeofgoodsands
e
r
vi
c
e
s
.Wi
t
houtpr
ope
r
t
yr
i
ght
sandt
heme
anst
oe
nf
or
c
e
t
he
s
er
i
ght
s
,nope
r
s
onwoul
dwantt
ounde
r
t
akes
uc
har
i
s
k.
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ff:
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99)Whyar
emus
i
c
,t
e
l
e
vi
s
i
on,andmovi
ec
ompani
e
sc
onc
e
r
ne
daboutt
he
i
rpr
oduc
t
sbe
i
ngpos
t
e
dt
o
I
nt
e
r
ne
twe
bs
i
t
e
ss
uc
hasYouTube
?
Ans
we
r
:The
s
ec
ompani
e
sbe
l
i
e
vet
ha
tt
he
i
ri
nt
e
l
l
e
c
t
ualpr
ope
r
t
yr
i
ght
sar
ebe
i
ngvi
ol
a
t
e
dwhe
nt
he
unaut
hor
i
ze
dus
eoft
he
i
rma
t
e
r
i
alappe
ar
sont
he
s
ewe
bs
i
t
e
s
,andt
hi
sr
e
duc
e
st
he
i
rabi
l
i
t
yt
os
e
l
lt
hi
s
ma
t
e
r
i
al
.
Di
ff:
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geRe
f
:
51
Topi
c
:Pr
ope
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t
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ght
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ar
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ngOut
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ome
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ype
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ys
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tc
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100)Adam Smi
t
h,t
hef
a
t
he
rofmode
r
ne
c
onomi
c
s
,wr
ot
ei
nhi
sbook,AnI
nq
ui
r
yi
nt
ot
heNa
t
ur
ea
nd
Ca
us
e
so
ft
heWe
a
l
t
ho
fNa
t
i
o
ns
,"
I
ti
snotf
r
om t
hebe
ne
vol
e
nc
eoft
hebut
c
he
r
,t
hebr
e
we
r
,ort
hebake
r
,t
ha
t
wee
xpe
c
tourdi
nne
rbutf
r
om t
he
i
rr
e
gar
dt
ot
he
i
rowni
nt
e
r
e
s
t
.
"Expl
ai
nwha
theme
antbyt
ha
t
s
t
a
t
e
me
ntandhow s
uc
hbe
ha
vi
ourpr
omot
e
st
hewe
al
t
hofana
t
i
on.
Ans
we
r
:Thes
t
a
t
e
me
nt
sr
e
f
e
rt
ot
hef
ac
tt
ha
tpe
opl
eac
ti
nt
he
i
rowns
e
l
f
i
nt
e
r
e
s
t
.Fore
xampl
e
,t
he
but
c
he
rwhos
e
l
l
sme
a
tandt
hebake
rwhobake
sbr
e
a
dc
ar
r
youtt
he
s
eac
t
i
vi
t
i
e
sbe
c
aus
et
he
s
et
as
ks
c
ont
r
i
but
et
ot
he
i
rl
i
ve
l
i
hood,notbe
c
aus
et
he
yar
ec
onc
e
r
ne
daboutot
he
rpe
opl
e
.Ne
ve
r
t
he
l
e
s
s
,t
he
i
r
ac
t
i
onsbe
ne
fit
e
dot
he
r
s
.Thi
si
spr
e
c
i
s
e
l
yoneoft
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r
t
ue
sofamar
ke
t
:pe
opl
edonotha
vet
oac
t
vi
r
t
uous
l
yt
opr
oduc
ewor
t
hwhi
l
eout
c
ome
s
.Pr
oduc
i
nggoodsands
e
r
vi
c
e
st
ha
tc
ons
ume
r
sval
ue
i
nc
r
e
as
e
st
hewe
al
t
hofana
t
i
on.
Di
ff:
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:
50
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ar
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i
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ai
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a
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or
yoft
heMar
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tS
ys
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t
i
on:
How DoYouMakeaSmar
tPhone
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106
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Chapter 3 - TEST BANK
Introductory Macroeconomics SFW (University of Guelph)
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Macroeconomics, Second Canadian Edition (Hubbard)
Chapter 3 Where Prices Come From: The Interaction of Supply and Demand
3.1 Discuss the variables that influence demand
1)Fol
l
owi
ngt
hes
uc
c
e
s
s
f
ull
aunc
hofRe
dBul
li
nt
heCanadi
anmar
ke
ti
n2004,c
ompani
e
ss
uc
hasCoc
a
Col
a
,Pe
ps
i
,andmanyot
he
r
sha
vei
nt
r
oduc
e
dpr
oduc
t
st
oc
ompe
t
ewi
t
hRe
dBul
l
.Thee
ne
r
gydr
i
nks
i
nt
r
oduc
e
dt
oc
ompe
t
ewi
t
hRe
dBul
lwoul
dbec
ons
i
de
r
e
d
A)c
ompl
e
me
nt
st
oRe
dBul
l
.
B)s
ubs
t
i
t
ut
e
sf
orRe
dBul
l
.
C)i
nf
e
r
i
orgoodsc
ompar
e
dt
oRe
dBul
l
.
D)nor
malgoodsc
ompar
e
dt
oRe
dBul
l
.
Ans
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r
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Di
ff:
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f
:
61
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
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ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
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c
i
alFe
a
t
ur
e
:Chapt
e
rOpe
ne
r
:TheMar
ke
tf
orEne
r
gyDr
i
nks
2)I
fRe
dBul
landBe
a
ve
rBuzzEne
r
gyar
ec
ons
i
de
r
e
ds
ubs
t
i
t
ut
e
s
,t
he
n,ot
he
rt
hi
ngse
qual
,ani
nc
r
e
as
ei
n
t
hepr
i
c
eoft
heRe
dBul
lwi
l
l
A)de
c
r
e
as
et
hede
mandf
ort
heRe
dBul
l
.
B)i
nc
r
e
as
et
hede
mandf
ort
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a
ve
rBuzzEne
r
gy
.
C)i
nc
r
e
as
et
hequant
i
t
yde
mande
df
orBe
a
ve
rBuzzEne
r
gy
.
D)i
nc
r
e
as
et
hequant
i
t
yde
mande
df
ort
heRe
dBul
l
.
Ans
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r
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Di
ff:
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geRe
f
:
61
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c
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i
c
eofRe
l
a
t
e
dGoods
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ar
ni
ngOut
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ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
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Spe
c
i
alFe
a
t
ur
e
:Ec
onomi
c
si
nYourLi
f
e
:Re
dBul
lorBe
a
ve
rBuzzEne
r
gy:
Wha
t
'
sYourBe
ve
r
a
ge
?
3)Wha
ti
st
hedi
ffe
r
e
nc
ebe
t
we
e
nan"
i
nc
r
e
as
ei
nde
mand"andan"
i
nc
r
e
as
ei
nquant
i
t
yde
mande
d"
?
A)The
r
ei
snodi
ffe
r
e
nc
ebe
t
we
e
nt
het
wot
e
r
ms
;t
he
ybot
hr
e
f
e
rt
oas
hi
f
toft
hede
mandc
ur
ve
.
B)An"
i
nc
r
e
as
ei
nde
mand"i
sr
e
pr
e
s
e
nt
e
dbyar
i
ght
war
ds
hi
f
toft
hede
mandc
ur
vewhi
l
ean"
i
nc
r
e
as
e
i
nquant
i
t
yde
mande
d"i
sr
e
pr
e
s
e
nt
e
dbyamove
me
ntal
ongagi
ve
nde
mandc
ur
ve
.
C)The
r
ei
snodi
ffe
r
e
nc
ebe
t
we
e
nt
het
wot
e
r
ms
;t
he
ybot
hr
e
f
e
rt
oamove
me
ntdownwar
dal
ongagi
ve
n
de
mandc
ur
ve
.
D)An"
i
nc
r
e
as
ei
nde
mand"i
sr
e
pr
e
s
e
nt
e
dbyamove
me
ntal
ongagi
ve
nde
mandc
ur
ve
,whi
l
ean
"
i
nc
r
e
as
ei
nquant
i
t
yde
mande
d"i
sr
e
pr
e
s
e
nt
e
dbyar
i
ght
war
ds
hi
f
toft
hede
mandc
ur
ve
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
62
Topi
c
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mandvs
.Quant
i
t
yDe
mande
d
Le
ar
ni
ngOut
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ome
:3
.
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s
c
us
st
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e
st
ha
ti
nflue
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ede
mand
AACSB:Re
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1
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4)Thede
mandbyal
lt
hec
ons
ume
r
sofagi
ve
ngoodors
e
r
vi
c
ei
st
he________f
ort
hegoodors
e
r
vi
c
e
.
A)mar
ke
tde
mand
B)quant
i
t
yde
mande
d
C)l
a
w ofde
mand
D)s
c
he
dul
e
dde
mand
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
62
Topi
c
:Mar
ke
tDe
mand
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
5)I
f
,i
nr
e
s
pons
et
oani
nc
r
e
as
ei
nt
hepr
i
c
eofc
hoc
ol
a
t
e
,t
hequant
i
t
yde
mande
dofc
hoc
ol
a
t
ede
c
r
e
as
e
s
e
c
onomi
s
t
swoul
dde
s
c
r
i
bet
hi
sas
A)ade
c
r
e
as
ei
nde
mand.
B)ade
c
r
e
as
ei
nquant
i
t
yde
mande
d.
C)ac
hangei
nc
ons
ume
ri
nc
ome
.
D)ade
c
r
e
as
ei
nc
ons
ume
r
s
'
t
as
t
ef
orc
hoc
ol
a
t
e
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
62
Topi
c
:Quant
i
t
yDe
mande
d
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
6)Bydr
a
wi
ngade
mandc
ur
vewi
t
h________ont
heve
r
t
i
c
alaxi
sand________ont
hehor
i
z
ont
alaxi
s
,
e
c
onomi
s
t
sas
s
umet
ha
tt
hemos
ti
mpor
t
antde
t
e
r
mi
na
ntoft
hede
mandf
oragoodi
st
he________oft
he
good.
A)quant
i
t
y;pr
i
c
e
;quant
i
t
y
B)pr
i
c
e
;quant
i
t
y;quant
i
t
y
C)pr
i
c
e
;quant
i
t
y;pr
i
c
e
D)quant
i
t
y;pr
i
c
e
;pr
i
c
e
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
63
Topi
c
:De
mandCur
ve
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
7)Thel
a
w ofde
mandi
mpl
i
e
s
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
,t
ha
t
A)ast
hepr
i
c
eofba
ge
l
si
nc
r
e
as
e
s
,t
hequant
i
t
yofba
ge
l
sde
mande
dwi
l
lde
c
r
e
as
e
.
B)ast
hepr
i
c
eofba
ge
l
si
nc
r
e
as
e
s
,t
hede
mandf
orba
ge
l
swi
l
lde
c
r
e
as
e
.
C)ast
hepr
i
c
eofba
ge
l
si
nc
r
e
as
e
s
,t
hequant
i
t
yofba
ge
l
sde
mande
dwi
l
li
nc
r
e
as
e
.
D)ast
hepr
i
c
eofba
ge
l
si
nc
r
e
as
e
s
,t
hede
mandf
orba
ge
l
swi
l
li
nc
r
e
as
e
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
63
Topi
c
:La
w ofDe
mand
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
2
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8)I
fade
mandc
ur
ves
hi
f
t
st
ot
her
i
ght
,t
he
n
A)de
mandhasi
nc
r
e
as
e
d.
B)quant
i
t
yde
mande
dhasi
nc
r
e
as
e
d.
C)de
mandhasde
c
r
e
as
e
d.
D)quant
i
t
yde
mande
dhasde
c
r
e
as
e
d.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
64
Topi
c
:De
mandCur
ve
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
9)Hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
,ani
nc
r
e
as
ei
nt
hepr
i
c
eofMP3pl
a
ye
r
swi
l
lr
e
s
ul
ti
n
A)ade
c
r
e
as
ei
nt
hequant
i
t
yofMP3pl
a
ye
r
ss
uppl
i
e
d.
B)ade
c
r
e
as
ei
nt
hede
mandf
orMP3pl
a
ye
r
s
.
C)ani
nc
r
e
as
ei
nt
hes
uppl
yofMP3pl
a
ye
r
s
.
D)ade
c
r
e
as
ei
nt
hequant
i
t
yofMP3pl
a
ye
r
sde
mande
d.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
63
Topi
c
:Quant
i
t
yDe
mande
d
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
10)Ac
hangei
nal
loft
hef
ol
l
owi
ngvar
i
abl
e
swi
l
lc
hanget
hemar
ke
tde
mandf
orapr
oduc
te
x
c
e
p
t
A)t
hepr
i
c
eoft
hepr
oduc
t
.
B)popul
a
t
i
onandde
mogr
aphi
c
s
.
C)i
nc
ome
.
D)t
as
t
e
s
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
64
Topi
c
:Quant
i
t
yDe
mande
d
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
3
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Tabl
e3.
1
Loos
eLe
af
Te
a
Pr
i
c
eperkg
(
dol
l
ar
s
)
Suni
l
'
s
Quant
i
t
y
Demanded
(
kgs
)
$8
6
5
4
3
4
7
9
12
15
Mi
a'
s
Quant
i
t
y
Demanded
(
kgs
)
0
2
3
5
8
Res
tof
Mar
ket
Quant
i
t
y
Demanded
(
kgs
)
30
40
51
64
90
Mar
ket
Quant
i
t
y
Demanded
(
kgs
)
11)Re
f
e
rt
oTabl
e3.
1.Thet
abl
eaboves
howst
hede
mands
c
he
dul
e
sf
orl
oos
e
l
e
aft
e
aoft
woi
ndi
vi
dual
s
(
Suni
landMi
a)andt
her
e
s
toft
hemar
ke
t
.Atapr
i
c
eof$5,t
hequant
i
t
yde
mande
di
nt
hemar
ke
twoul
d
be
A)51kgs
.
B)63kgs
.
C)76kgs
D)146kgs
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
62
Topi
c
:De
mandSc
he
dul
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
12)Re
f
e
rt
oTabl
e3.
1.Thet
abl
eaboves
howst
hede
mands
c
he
dul
e
sf
orl
oos
e
l
e
aft
e
aoft
woi
ndi
vi
dual
s
(
Suni
landMi
a)andt
her
e
s
toft
hemar
ke
t
.I
ft
hepr
i
c
eofl
oos
e
l
e
aft
e
ar
i
s
e
sf
r
om $3t
o$4,t
hemar
ke
t
quant
i
t
yde
mande
dwoul
d
A)de
c
r
e
as
eby32kgs
.
B)i
nc
r
e
as
eby64kgs
.
C)i
nc
r
e
as
eby32kgs
.
D)de
c
r
e
as
eby64kgs
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
62
Topi
c
:De
mandSc
he
dul
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
13)Thei
nc
omee
ffe
c
tofapr
i
c
ec
hanger
e
f
e
r
st
ot
hei
mpac
tofac
hangei
n
A)i
nc
omeont
hepr
i
c
eofagood.
B)de
mandwhe
ni
nc
omec
hange
s
.
C)t
hequant
i
t
yde
mande
dwhe
ni
nc
omec
hange
s
.
D)t
hepr
i
c
eofagoodonac
ons
ume
r
'
spur
c
has
i
ngpowe
r
.
Ans
we
r
:D
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:I
nc
omeEffe
c
t
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
14)Whi
c
hoft
hef
ol
l
owi
ngwi
l
ls
hi
f
tt
hede
mandc
ur
vef
oragood?
A)ac
hangei
nt
het
e
c
hnol
ogyus
e
dt
opr
oduc
et
hegood
B)ani
nc
r
e
as
ei
nt
hepr
i
c
eoft
hegood
C)ade
c
r
e
as
ei
nt
hepr
i
c
eofac
ompl
e
me
nt
ar
ygood
D)ade
c
r
e
as
ei
nt
hepr
i
c
eoft
hegood
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
6566
4
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Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
15)Amove
me
ntal
ongt
hede
mandc
ur
vef
ort
oot
hpas
t
ewoul
dbec
aus
e
dby
A)ac
hangei
nt
hepr
i
c
eoft
oot
hbr
us
he
s
.
B)ac
hangei
nc
ons
ume
ri
nc
ome
.
C)ac
hangei
nt
hepr
i
c
eoft
oot
hpas
t
e
.
D)ac
hangei
npopul
a
t
i
on.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
62
Topi
c
:Quant
i
t
yDe
mande
d
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
16)Whe
nt
hepr
i
c
eofanor
malgoodf
al
l
s
,c
ons
ume
r
sbuyal
ar
ge
rquant
i
t
ybe
c
aus
eoft
he________
e
ffe
c
tandt
he________e
ffe
c
t
.
A)s
ubs
t
i
t
ut
i
on;i
nc
ome
B)nor
mal
;
i
nf
e
r
i
or
C)s
ubs
t
i
t
ut
e
;c
ompl
e
me
nt
D)s
uppl
y;de
mand
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:Subs
t
i
t
ut
i
onEffe
c
t
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
17)I
ft
hepr
i
c
eofgr
ape
f
r
ui
tr
i
s
e
s
,t
hes
ubs
t
i
t
ut
i
one
ffe
c
tduet
ot
hepr
i
c
ec
hangewi
l
lc
aus
e
A)ade
c
r
e
as
ei
nt
hede
mandf
orgr
ape
f
r
ui
t
.
B)ade
c
r
e
as
ei
nt
hede
mandf
oror
ange
s
,as
ubs
t
i
t
ut
ef
orgr
ape
f
r
ui
t
.
C)ade
c
r
e
as
ei
nt
hequant
i
t
yde
mande
dofgr
ape
f
r
ui
t
.
D)ade
c
r
e
as
ei
nt
hequant
i
t
ys
uppl
i
e
dofgr
ape
f
r
ui
t
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:Quant
i
t
yDe
mande
d
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
5
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18)The________e
ffe
c
tr
e
f
e
r
st
ot
hec
hangei
nquant
i
t
yde
mande
df
oragoodt
ha
tr
e
s
ul
t
sf
r
om t
hee
ffe
c
t
ofac
hangei
nt
hegood'
spr
i
c
eonc
ons
ume
r
'
spur
c
has
i
ngpowe
r
.
A)c
e
t
e
r
i
spa
r
i
b
us
B)popul
a
t
i
on
C)s
ubs
t
i
t
ut
i
on
D)i
nc
ome
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
63
Topi
c
:Ce
t
e
r
i
sPar
i
busCondi
t
i
on
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
19)I
fani
nc
r
e
as
ei
ni
nc
omel
e
adst
oi
nani
nc
r
e
as
ei
nt
hede
mandf
orpe
anutbut
t
e
r
,t
he
npe
anutbut
t
e
ri
s
A)ane
ut
r
algood.
B)anor
malgood.
C)ane
c
e
s
s
i
t
y
.
D)ac
ompl
e
me
nt
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:I
nc
omeEffe
c
t
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
20)I
fani
nc
r
e
as
ei
ni
nc
omel
e
adst
oade
c
r
e
as
ei
nt
hede
mandf
orpopc
or
n,t
he
npopc
or
ni
s
A)ani
nf
e
r
i
orgood.
B)ane
ut
r
algood.
C)ane
c
e
s
s
i
t
y
.
D)anor
malgood.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
omeEffe
c
t
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
21)Whe
t
he
ragoodi
snor
malori
nf
e
r
i
orde
pe
ndson
A)pe
opl
e
'
sa
t
t
i
t
ude
s
.
B)t
hepr
i
c
eoft
hepr
oduc
t
.
C)t
het
ax
e
spe
opl
epa
ywhe
npur
c
has
i
ngi
t
.
D)whe
t
he
rt
hepr
oduc
ti
shi
ghqual
i
t
y
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
omeEffe
c
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheTr
ans
f
or
ma
t
i
onofLobs
t
e
rf
r
om I
nf
e
r
i
ort
oNor
malGood
6
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Fi
gur
e3.
1
22)Re
f
e
rt
oFi
g
ur
e3.
1.Ani
nc
r
e
as
ei
npopul
a
t
i
onwoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
66
Topi
c
:Popul
a
t
i
onandDe
mogr
aphi
c
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
23)Re
f
e
rt
oFi
g
ur
e3.
1.Ac
as
ei
nwhi
c
hc
ons
ume
r
snol
onge
rc
ar
e
df
orapr
oduc
twoul
dber
e
pr
e
s
e
nt
e
d
byamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
66
Topi
c
:Tas
t
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
7
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24)Re
f
e
rt
oFi
g
ur
e3.
1.I
ft
hepr
oduc
tr
e
pr
e
s
e
nt
e
di
sani
nf
e
r
i
orgood,ani
nc
r
e
as
ei
ni
nc
omewoul
dbe
r
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
25)Re
f
e
rt
oFi
g
ur
e3.
1.Ade
c
r
e
as
ei
nt
hepr
i
c
eoft
hepr
oduc
twoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
63
Topi
c
:Quant
i
t
yDe
mande
d
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
26)TheI
nt
e
r
ne
thasc
r
e
a
t
e
dane
wc
a
t
e
gor
yi
nt
hebooks
e
l
l
i
ngmar
ke
t
,name
l
y
,t
he"
bar
e
l
yus
e
d"book.
How doe
st
hea
vai
l
abi
l
i
t
yofbar
e
l
yus
e
dbooksa
ffe
c
tt
hemar
ke
tf
orne
w books
?
A)Thede
mandc
ur
vef
orne
w bookss
hi
f
t
st
ot
her
i
ght
.
B)Thede
mandc
ur
vef
orne
w bookss
hi
f
t
st
ot
hel
e
f
t
.
C)Thes
uppl
yc
ur
vef
orne
w bookss
hi
f
t
st
ot
her
i
ght
.
D)Thes
uppl
yc
ur
vef
orne
w bookss
hi
f
t
st
ot
hel
e
f
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
27)El
vi
r
ade
c
r
e
as
e
dhe
rc
ons
umpt
i
onofbananaswhe
nt
hepr
i
c
eofpe
anutbut
t
e
ri
nc
r
e
as
e
d.ForEl
vi
r
a
,
pe
anutbut
t
e
randbananasar
e
A)s
ubs
t
i
t
ut
e
si
nc
ons
umpt
i
on.
B)bot
hi
nf
e
r
i
orgoods
.
C)c
ompl
e
me
nt
si
nc
ons
umpt
i
on.
D)bot
hl
uxur
ygoods
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
8
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28)I
ft
hepr
i
c
eofaut
omobi
l
e
swast
oi
nc
r
e
as
e
,t
he
n
A)t
hede
mandf
orgas
ol
i
newoul
dde
c
r
e
as
e
.
B)t
hede
mandf
orgas
ol
i
newoul
di
nc
r
e
as
e
.
C)t
hes
uppl
yofgas
ol
i
newoul
di
nc
r
e
as
e
.
D)t
hequant
i
t
yde
mande
dofgas
ol
i
newoul
dde
c
r
e
as
e
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
29)Suppos
et
ha
twhe
nt
hepr
i
c
eofr
as
pbe
r
r
i
e
si
nc
r
e
as
e
s
,Lonni
ei
nc
r
e
as
e
shi
spur
c
has
e
sofpapa
yas
.To
Lonni
e
,
A)r
as
pbe
r
r
i
e
sandpapa
yasar
ec
ompl
e
me
nt
s
.
B)r
a
s
pbe
r
r
i
e
sandpapa
yasar
ei
nf
e
r
i
orgoods
.
C)r
a
s
pbe
r
r
i
e
sandpapa
yasar
enor
malgoods
.
D)r
as
pbe
r
r
i
e
sandpapa
yasar
es
ubs
t
i
t
ut
e
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
30)Suppos
et
ha
twhe
nt
hepr
i
c
eofhambur
ge
r
sde
c
r
e
as
e
s
,t
heLif
ami
l
yi
nc
r
e
as
e
st
he
i
rpur
c
has
e
sof
ke
t
c
hup.Tot
heLif
ami
l
y
A)hambur
ge
r
sandke
t
c
hupar
ec
ompl
e
me
nt
s
.
B)hambur
ge
r
sandke
t
c
hupands
ubs
t
i
t
ut
e
s
.
C)hambur
ge
r
sandke
t
c
hupar
enor
malgoods
.
D)hambur
ge
r
sar
enor
malgoodsandhotdogsar
ei
nf
e
r
i
orgoods
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
31)St
udi
e
sha
ves
hownl
i
nksbe
t
we
e
nc
al
c
i
um c
ons
umpt
i
onandar
e
duc
t
i
oni
nos
t
e
opor
os
i
s
.How doe
s
t
hi
sa
ffe
c
tt
hemar
ke
tf
orc
al
c
i
um?
A)Thec
al
c
i
um s
uppl
yc
ur
ves
hi
f
t
st
ot
her
i
ghtbe
c
aus
eofac
hangei
nt
as
t
e
si
nf
a
vourofc
al
c
i
um.
B)Thec
al
c
i
um de
mandc
ur
ves
hi
f
t
st
ot
her
i
ghtbe
c
aus
eofac
hangei
nt
as
t
e
si
nf
a
vourofc
al
c
i
um.
C)Thec
al
c
i
um de
mandc
ur
ves
hi
f
t
st
ot
hel
e
f
tbe
c
aus
et
hi
sne
wi
nf
or
ma
t
i
onwi
l
li
nc
r
e
as
et
hepr
i
c
eof
c
al
c
i
um.
D)Thec
al
c
i
um s
uppl
yc
ur
ves
hi
f
t
st
ot
hel
e
f
tbe
c
a
us
et
hi
sne
wi
nf
or
ma
t
i
onwi
l
li
nc
r
e
as
et
hepr
i
c
eof
c
al
c
i
um.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
66
Topi
c
:Tas
t
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
32)Te
c
hnol
ogi
c
aladvanc
e
sha
ver
e
s
ul
t
e
di
nl
owe
rpr
i
c
e
sf
ordi
gi
t
alc
ame
r
as
.Wha
ti
st
hei
mpac
toft
hi
s
ont
hemar
ke
tf
ort
r
adi
t
i
onal(
nondi
gi
t
al
)c
ame
r
as
?
A)Thede
mandc
ur
vef
ort
r
adi
t
i
onalc
ame
r
ass
hi
f
t
st
ot
her
i
ght
.
B)Thes
uppl
yc
ur
vef
ort
r
adi
t
i
onalc
ame
r
ass
hi
f
t
st
ot
her
i
ght
.
C)Thede
mandc
ur
vef
ort
r
adi
t
i
onalc
ame
r
ass
hi
f
t
st
ot
hel
e
f
t
.
D)Thes
uppl
yc
ur
vef
ort
r
adi
t
i
onalc
ame
r
ass
hi
f
t
st
ot
hel
e
f
t
.
Ans
we
r
:C
9
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Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
33)How doe
st
hei
nc
r
e
as
i
ngus
eofMP3pl
a
ye
r
sa
ffe
c
tt
hemar
ke
tf
orc
ompac
tdi
s
c
s
?
A)Thede
mandc
ur
vef
orc
ompac
tdi
s
c
ss
hi
f
t
st
ot
her
i
ght
.
B)Thes
uppl
yc
ur
vef
orc
ompac
tdi
s
c
ss
hi
f
t
st
ot
hel
e
f
t
.
C)Thes
uppl
yc
ur
vef
orc
ompac
tdi
s
c
ss
hi
f
t
st
ot
her
i
ght
.
D)Thede
mandc
ur
vef
orc
ompac
tdi
s
c
ss
hi
f
t
st
ot
hel
e
f
t
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
34)Te
c
hnol
ogi
c
aladvanc
e
me
nt
sha
vel
e
dt
ol
owe
rpr
i
c
e
sandani
nc
r
e
as
ei
nt
hes
al
eofdi
gi
t
alc
ame
r
as
.
How doe
st
hi
sa
ffe
c
tt
hedi
gi
t
alphot
opr
i
nt
i
ngpape
rmar
ke
t
?
A)Thede
mandc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngpape
rs
hi
f
t
st
ot
her
i
ght
.
B)Thede
mandc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngpape
rs
hi
f
t
st
ot
hel
e
f
t
.
C)Thes
uppl
yc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngpape
rs
hi
f
t
st
ot
her
i
ght
.
D)Thes
uppl
yc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngpape
rs
hi
f
t
st
ot
hel
e
f
t
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
35)Buye
r
sr
us
ht
opur
c
has
es
t
oc
ksi
nOnt
ar
i
ovi
ne
yar
dsf
ol
l
owi
ngaf
or
e
c
as
tofa30pe
r
c
e
ntde
c
l
i
nei
n
t
hi
sye
ar
'
sgr
apehar
ve
s
t
.Wha
thappe
nsi
nt
heOnt
ar
i
owi
nemar
ke
tasar
e
s
ul
toft
hi
sannounc
e
me
nt
?
A)Thede
mandc
ur
vef
orOnt
ar
i
owi
nes
hi
f
t
st
ot
hel
e
f
ti
nant
i
c
i
pa
t
i
onofhi
ghe
rpr
i
c
e
si
nt
hef
ut
ur
e
.
B)Thede
mandc
ur
vef
orOnt
ar
i
owi
nes
hi
f
t
st
ot
her
i
ghti
nant
i
c
i
pa
t
i
onofhi
ghe
rpr
i
c
e
si
nt
hef
ut
ur
e
.
C)Thes
uppl
yc
ur
vef
orOnt
ar
i
owi
nes
hi
f
t
st
ot
her
i
ghti
nant
i
c
i
pa
t
i
onofhi
ghe
rpr
i
c
e
si
nt
hef
ut
ur
e
.
D)Thes
uppl
yc
ur
vef
orOnt
ar
i
owi
nes
hi
f
t
st
ot
hel
e
f
ti
nant
i
c
i
pa
t
i
onofl
owe
rquant
i
t
i
e
si
nt
hef
ut
ur
e
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
67
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
10
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36)Tom Se
ar
c
hi
nge
r
,as
e
ni
ora
t
t
or
ne
ya
tt
heEnvi
r
onme
nt
alDe
f
e
ns
eFund,obs
e
r
ve
dt
ha
tge
ne
r
ousU.
S.
f
ar
ms
ubs
i
di
e
sha
vee
nc
our
a
ge
df
a
r
me
r
st
opr
oduc
emor
ec
or
nandmor
ewhe
a
t
.How doe
st
hi
sa
ffe
c
t
t
hemar
ke
tf
orf
e
r
t
i
l
i
ze
r
?
A)Thes
uppl
yoff
e
r
t
i
l
i
ze
ri
nc
r
e
as
e
s
.
B)Thes
uppl
yoff
e
r
t
i
l
i
ze
rde
c
r
e
as
e
s
.
C)Thede
mandf
orf
e
r
t
i
l
i
ze
ri
nc
r
e
as
e
s
.
D)Thede
mandf
orf
e
r
t
i
l
i
ze
rde
c
r
e
as
e
s
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
37)I
nJ
une
,buye
r
soft
i
t
ani
um e
xpe
c
tt
ha
tt
hepr
i
c
eoft
i
t
ani
um wi
l
lf
al
li
nJ
ul
y
.Wha
thappe
nsi
nt
he
t
i
t
ani
um mar
ke
ti
nJ
une
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
?
A)Thede
mandc
ur
ves
hi
f
t
st
ot
her
i
ght
.
B)Thequant
i
t
yde
mande
di
nc
r
e
as
e
s
.
C)Thequant
i
t
yde
mande
dde
c
r
e
as
e
s
.
D)Thede
mandc
ur
ves
hi
f
t
st
ot
hel
e
f
t
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
67
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
38)I
nJ
anuar
y
,buye
r
sofgol
de
xpe
c
tt
ha
tt
hepr
i
c
eofgol
dwi
l
lr
i
s
ei
nFe
br
uar
y
.Wha
thappe
nsi
nt
he
gol
dmar
ke
ti
nJ
anuar
y
,hol
di
ngal
le
l
s
ec
ons
t
ant
?
A)Thes
uppl
yc
ur
ves
hi
f
t
st
ot
her
i
ght
.
B)Thede
mandc
ur
ves
hi
f
t
st
ot
hel
e
f
t
.
C)Thede
mandc
ur
ves
hi
f
t
st
ot
her
i
ght
.
D)Thequant
i
t
yde
mande
di
nc
r
e
as
e
s
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
67
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
39)Asi
nc
ome
si
nAl
be
r
t
af
al
lpe
opl
ear
edr
i
nki
ngl
e
s
sc
r
af
tbe
e
randmor
ebe
e
rpr
oduc
e
dby
i
nt
e
r
na
t
i
onalbr
e
we
r
s
.Thus
,ane
c
onomi
s
twoul
dc
ons
i
de
rbe
e
rpr
oduc
e
dbyi
nt
e
r
na
t
i
onalbr
e
we
r
st
obe
a(
n)
A)nor
malgood.
B)i
nf
e
r
i
orgood.
C)c
ompl
e
me
nt
ar
ygood.
D)s
ubs
t
i
t
ut
egood.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
40)Whi
c
hoft
hef
ol
l
owi
ngpr
oduc
t
swoul
dbemos
tl
i
ke
l
yt
os
e
ear
i
s
ei
nde
manddueadr
opi
n
i
nc
ome
s
?
A)i
ns
t
antr
ame
nnoodl
e
s
B)l
obs
t
e
rdi
nne
r
s
C)ne
wc
ar
s
11
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D)hot
e
lr
ooms
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheTr
ans
f
or
ma
t
i
onofLobs
t
e
rf
r
om I
nf
e
r
i
ort
oNor
malGood
41)Thepor
t
i
onoft
hepopul
a
t
i
onove
ra
ge64hasr
i
s
e
nf
r
om 8% i
n1971t
o16% i
n2015.Whi
c
hoft
he
goodsi
smos
tl
i
ke
l
yt
os
e
eani
nc
r
e
as
ei
nde
mandasar
e
s
ul
t
?
A)he
al
t
hc
ar
e
B)uni
ve
r
s
i
t
ye
duc
a
t
i
on
C)e
ne
r
gydr
i
nks
D)c
ar
s
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheAgi
ngBabyBoome
r
s
42)Whi
c
hoft
hef
ol
l
owi
ngi
se
xpe
c
t
e
dt
ooc
c
urast
hebabyboom ge
ne
r
a
t
i
ona
ge
s
?
A)Thede
mandf
orbabyc
l
ot
he
ss
houl
di
nc
r
e
as
e
.
B)Thede
mandf
orpr
e
s
c
r
i
pt
i
ondr
ugss
houl
dde
c
r
e
as
e
.
C)Thede
mandf
orme
di
c
als
e
r
vi
c
e
ss
houl
di
nc
r
e
as
e
.
D)Thede
mandf
orl
ar
ge
rhous
e
ss
houl
di
nc
r
e
as
e
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
6667
Topi
c
:Popul
a
t
i
onandDe
mogr
aphi
c
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheAgi
ngBabyBoome
r
s
12
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43)Asbabyboome
r
sa
ge
,wewoul
de
xpe
c
t
A)j
obsi
nhe
al
t
hc
ar
et
oi
nc
r
e
as
e
.
B)j
obsi
nhe
al
t
hc
ar
et
ode
c
l
i
nea
taf
as
t
e
rr
a
t
et
hanove
r
al
lj
obsi
nt
hee
c
onomy
.
C)de
mandf
orme
di
c
als
e
r
vi
c
e
st
ode
c
l
i
ne
,whi
c
hwoul
dr
e
s
ul
ti
nade
c
l
i
nei
na
vai
l
abl
ej
obsi
nt
he
me
di
c
alfie
l
d.
D)de
mandf
orl
ar
gehous
e
st
oi
nc
r
e
as
e
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
6667
Topi
c
:Popul
a
t
i
onandDe
mogr
aphi
c
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheAgi
ngBabyBoome
r
s
44)Whe
nde
c
i
di
ngonwhi
c
hne
w pr
oduc
t
st
ode
ve
l
op,afir
m mus
tde
vot
epe
opl
e
,t
i
me
,andmone
yt
o
de
s
i
gni
ngane
w pr
oduc
t
.Be
c
aus
eanyfir
m hasonl
yl
i
mi
t
e
dr
e
s
our
c
e
s
,i
t
A)s
houl
dwai
tunt
i
li
t
sc
ompe
t
i
t
or
sde
ve
l
opas
i
mi
l
arpr
oduc
tbe
f
or
ede
c
i
di
ngonde
vot
i
ngr
e
s
our
c
e
st
o
i
t
sownpr
oduc
tde
ve
l
opme
nt
.
B)i
snotabl
et
ode
ve
l
opmor
et
hanonene
w pr
oduc
ta
tat
i
me
.
C)mus
tbec
e
r
t
ai
nt
ha
tt
hepr
oduc
ti
tc
hoos
e
st
ode
ve
l
opwi
l
lbes
uc
c
e
s
s
f
ulori
twi
l
lnotbeabl
et
os
t
a
y
i
nbus
i
ne
s
s
.
D)f
ac
e
sat
r
ade
off,be
c
aus
er
e
s
our
c
e
sus
e
dt
ode
ve
l
oponepr
oduc
twi
l
lnotbea
vai
l
abl
et
ode
ve
l
op
anot
he
rpr
oduc
t
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
66
Topi
c
:Tas
t
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:For
e
c
a
s
t
i
ngt
heDe
mandf
ori
Pads-dr
oppe
df
r
om Canadi
ane
di
t
i
onbuts
t
i
l
l
agoodque
s
t
i
on.
45)Thei
nc
omee
ffe
c
tofapr
i
c
ec
hanger
e
f
e
r
st
ot
hec
hangei
nt
hequant
i
t
yde
mande
dofagoodt
ha
t
r
e
s
ul
t
sf
r
om ac
hangei
npur
c
has
i
ngpowe
rasar
e
s
ul
toft
hepr
i
c
ec
hange
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
omeEffe
c
t
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
46)Chi
psands
al
s
aar
ec
ompl
e
me
nt
s
.I
ft
hepr
i
c
eofs
al
s
ade
c
r
e
as
e
s
,t
hede
mandf
orc
hi
pswi
l
li
nc
r
e
a
s
e
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
13
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47)Anor
malgoodi
sagoodf
orwhi
c
ht
hede
mande
di
nc
r
e
as
e
sasi
nc
omede
c
r
e
as
e
s
,hol
di
nge
ve
r
yt
hi
ng
e
l
s
ec
ons
t
ant
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
6465
Topi
c
:I
nc
ome
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
48)Thei
nc
omee
ffe
c
te
xpl
ai
nswhyt
he
r
ei
sani
nve
r
s
er
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
tand
t
hequant
i
t
yoft
hepr
oduc
tde
mande
d.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
63
Topi
c
:I
nc
omeEffe
c
t
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
49)I
fc
ons
ume
r
sbe
l
i
e
vet
hepr
i
c
eofi
Padswi
l
lde
c
r
e
as
ei
nt
hef
ut
ur
e
,t
hi
swi
l
lc
aus
et
hede
mandf
or
i
Padst
ode
c
r
e
as
enow.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
67
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
50)Wha
ti
st
hec
e
t
e
r
i
spa
r
i
b
usc
ondi
t
i
on?
Ans
we
r
:Thec
e
t
e
r
i
spa
r
i
b
usc
ondi
t
i
oni
st
her
e
qui
r
e
me
ntt
ha
twhe
nanal
yzi
ngt
her
e
l
a
t
i
ons
hi
pbe
t
we
e
n
t
wovar
i
abl
e
s
,s
uc
haspr
i
c
eandquant
i
t
yde
mande
d,ot
he
rvar
i
abl
e
smus
tbehe
l
dc
ons
t
ant
.
Di
ff:
1 Pa
geRe
f
:
64
Topi
c
:Ce
t
e
r
i
sPar
i
busCondi
t
i
on
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
51)Wha
tar
et
het
woe
ffe
c
t
st
ha
te
xpl
ai
nt
heLa
w ofDe
mand?Br
i
e
flye
xpl
ai
ne
ac
he
ffe
c
t
.
Ans
we
r
:Thet
woe
ffe
c
t
st
ha
te
xpl
ai
nt
heLa
w ofDe
mandar
et
hei
nc
omee
ffe
c
tandt
hes
ubs
t
i
t
ut
i
on
e
ffe
c
t
.Thei
nc
omee
ffe
c
ti
st
hec
hangei
nquant
i
t
yde
mande
dofagoodt
ha
tr
e
s
ul
t
sf
r
om ac
hangei
n
pur
c
has
i
ngpowe
rduet
oac
hangei
nt
hegood'
spr
i
c
e
.Thes
ubs
t
i
t
ut
i
one
ffe
c
ti
st
hec
hangei
nquant
i
t
y
de
mande
dofagoodt
ha
tr
e
s
ul
t
sf
r
om t
hee
ffe
c
tofac
hangei
nt
hegood'
spr
i
c
emaki
ngt
hegoodmor
eor
l
e
s
se
xpe
ns
i
ver
e
l
a
t
i
vet
oot
he
rgoodst
ha
tar
es
ubs
t
i
t
ut
e
s
.
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:La
w ofDe
mand
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
52)Expl
ai
nt
hedi
ffe
r
e
nc
ebe
t
we
e
nanor
malgoodandani
nf
e
r
i
orgood.
Ans
we
r
:Anor
malgoodi
ss
ome
t
hi
ngf
orwhi
c
ht
hede
mandi
nc
r
e
as
e
swhe
ni
nc
omer
i
s
e
sandt
he
de
mandde
c
r
e
as
e
swhe
ni
nc
omef
al
l
s
.Ani
nf
e
r
i
orgoodi
ss
ome
t
hi
ngf
orwhi
c
ht
hede
mandde
c
r
e
as
e
s
whe
ni
nc
omer
i
s
e
sandt
hede
mandi
nc
r
e
as
e
swhe
ni
nc
omef
al
l
s
.
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
53)Fore
ac
hoft
hef
ol
l
owi
ngpai
r
sofpr
oduc
t
s
,s
t
a
t
ewhi
c
har
ec
ompl
e
me
nt
s
,whi
c
har
es
ubs
t
i
t
ut
e
s
,and
whi
c
har
eunr
e
l
a
t
e
d.
a
. di
gi
t
alc
ame
r
aandme
mor
ys
t
i
c
k
b. 7UpandMount
ai
nDe
w
c
.s
wi
ms
ui
t
sandfli
pflops
14
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d. Tyl
e
nolandc
a
tf
ood
e
. phot
oc
opi
e
randpape
r
Ans
we
r
:
a
.c
ompl
e
me
nt
s
b. s
ubs
t
i
t
ut
e
s
c
.c
ompl
e
me
nt
s
d. unr
e
l
a
t
e
d
e
.c
ompl
e
me
nt
s
Di
ff:
1 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
54)Themar
ke
tf
ore
ne
r
gydr
i
nkshasbe
c
omeve
r
yc
ompe
t
i
t
i
ve
.Thei
nc
r
e
as
ei
nc
ompe
t
i
t
i
oni
nt
hi
s
mar
ke
ti
sane
xampl
eofhow t
hemar
ke
tr
e
s
pondst
o
A)de
c
r
e
as
e
si
nt
hepr
i
c
eofc
offe
e(
as
ubs
t
i
t
ut
ef
ort
hepr
oduc
t
)
.
B)i
nc
r
e
as
e
si
ni
nc
ome
.
C)c
hange
si
npopul
a
t
i
on.
D)c
hange
si
nc
ons
ume
rt
as
t
e
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
61
Topi
c
:Tas
t
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Chapt
e
rOpe
ne
r
:Re
dBul
landt
heMa
r
ke
tf
orEne
r
gyDr
i
nks
55)I
fyouar
ec
ons
i
de
r
i
ngbuyi
ngane
ne
r
gydr
i
nk,andyouc
hoos
eBe
a
ve
rBuzzEne
r
gyonl
ybe
c
aus
et
he
pr
i
c
ei
sl
owe
r
,t
he
nyouc
ons
i
de
r
A)Re
dBul
landBe
a
ve
rBuzzt
obec
ompl
e
me
nt
s
.
B)Re
dBul
landBe
a
ve
rBuzzt
obes
ubs
t
i
t
ut
e
s
.
C)Re
dBul
lt
obeanor
malgoodandBe
a
ve
rBuzzt
obeani
nf
e
r
i
orgood.
D)Re
dBul
lt
obeani
nf
e
r
i
orgoodandBe
a
ve
rBuzzt
obeanor
malgood.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
69/69
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Ec
onomi
c
si
nYourLi
f
e
:Re
dBul
lorBe
a
ve
rBuzzEne
r
gy:
Wha
t
'
sYourBe
ve
r
a
ge
?
15
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56)A(
n)________i
sr
e
pr
e
s
e
nt
e
dbyar
i
ght
war
ds
hi
f
toft
hede
mandc
ur
vewhi
l
ea(
n)________i
s
r
e
pr
e
s
e
nt
e
dbyamove
me
ntal
ongagi
ve
nde
mandc
ur
ve
.
A)i
nc
r
e
as
ei
nde
mand;de
c
r
e
as
ei
nde
mand
B)i
nc
r
e
as
ei
nde
mand;i
nc
r
e
as
ei
nquant
i
t
yde
mande
d
C)de
c
r
e
as
ei
nde
mand;de
c
r
e
as
ei
nquant
i
t
yde
mande
d
D)i
nc
r
e
as
ei
nquant
i
t
yde
mande
d;i
nc
r
e
as
ei
nde
mand
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
6465
Topi
c
:De
mandvs
.Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
57)Ade
mandc
ur
ves
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
n
A)t
hepr
i
c
eofapr
oduc
tandt
hequant
i
t
yoft
hepr
oduc
tde
mande
d.
B)t
heamountofapr
oduc
ts
e
l
l
e
r
sar
ewi
l
l
i
ngt
os
e
l
la
tapar
t
i
c
ul
arpr
i
c
eandt
heamountc
ons
ume
r
sar
e
wi
l
l
i
ngt
obuya
tt
ha
tpr
i
c
e
.
C)t
hequant
i
t
yt
ha
tc
ons
ume
r
sar
ewi
l
l
i
ngandabl
et
obuyandt
hequant
i
t
yt
ha
ts
e
l
l
e
r
sar
ewi
l
l
i
ngand
abl
et
ooffe
r
.
D)t
hepr
i
c
eofapr
oduc
eandt
hede
mandf
ort
hepr
oduc
t
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
63
Topi
c
:De
mandCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
58)I
f
,i
nr
e
s
pons
et
oade
c
r
e
as
ei
nt
hepr
i
c
eofc
offe
e
,t
hequant
i
t
yde
mande
dofc
offe
ei
nc
r
e
as
e
s
,
e
c
onomi
s
t
swoul
dde
s
c
r
i
bet
hi
sas
A)ani
nc
r
e
as
ei
nde
mand.
B)ani
nc
r
e
as
ei
nquant
i
t
yde
mande
d.
C)ac
hangei
nc
ons
ume
ri
nc
ome
.
D)ani
nc
r
e
as
ei
nc
ons
ume
r
s
'
t
as
t
ef
orc
offe
e
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
63
Topi
c
:Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
16
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59)Bydr
a
wi
ngade
mandc
ur
vewi
t
hpr
i
c
eont
heve
r
t
i
c
alaxi
sandquant
i
t
yont
hehor
i
z
ont
alaxi
s
,
e
c
onomi
s
t
sas
s
umet
ha
tt
hemos
ti
mpor
t
antde
t
e
r
mi
na
ntoft
hede
mandf
oragoodi
s
A)c
ons
ume
ri
nc
ome
.
B)c
ons
ume
rt
as
t
e
sandpr
e
f
e
r
e
nc
e
s
.
C)t
hepr
i
c
eoft
hegood.
D)t
hequal
i
t
yoft
hegood.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
6263
Topi
c
:De
mandCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
60)Thel
a
w ofde
mandi
mpl
i
e
s
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
,t
ha
tast
hepr
i
c
eofyogur
t
A)i
nc
r
e
as
e
s
,t
hede
mandf
oryogur
twi
l
li
nc
r
e
as
e
.
B)i
nc
r
e
as
e
s
,t
hequant
i
t
yofyogur
tde
mande
dwi
l
lde
c
r
e
as
e
.
C)de
c
r
e
as
e
s
,t
hequant
i
t
yofyogur
tde
mande
dwi
l
lde
c
r
e
as
e
.
D)de
c
r
e
as
e
s
,t
hede
mandf
oryogur
twi
l
li
nc
r
e
as
e
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
6364
Topi
c
:La
w ofDe
mand
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
61)Thephr
as
e"
de
mandhasi
nc
r
e
as
e
d"me
anst
ha
t
A)ade
mandc
ur
vehass
hi
f
t
e
dt
ot
hel
e
f
t
.
B)t
he
r
ehasbe
e
nanupwar
dmove
me
ntal
ongade
mandc
ur
ve
.
C)t
he
r
ehasbe
e
nadownwar
dmove
me
ntal
ongade
mandc
ur
ve
.
D)ade
mandc
ur
vehass
hi
f
t
e
dt
ot
her
i
ght
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
64
Topi
c
:De
mandCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
62)Hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
,ade
c
r
e
as
ei
nt
hepr
i
c
eofGPSs
ys
t
e
mswi
l
lr
e
s
ul
ti
n
A)ade
c
r
e
as
ei
nt
hequant
i
t
yofGPSs
ys
t
e
msde
mande
d.
B)ani
nc
r
e
as
ei
nt
hede
mandf
orGPSs
ys
t
e
ms
.
C)ade
c
r
e
as
ei
nt
hes
uppl
yofGPSs
ys
t
e
ms
.
D)ani
nc
r
e
as
ei
nt
hequant
i
t
yofGPSs
ys
t
e
msde
mande
d.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
6263
Topi
c
:Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
17
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63)Ac
hangei
nwhi
c
hvar
i
abl
ewi
l
lc
hanget
hemar
ke
tde
mandf
orapr
oduc
t
?
A)t
hepr
i
c
eoft
hepr
oduc
t
B)e
xpe
c
t
e
df
ut
ur
epr
i
c
e
s
C)t
henumbe
roffir
msi
nt
hemar
ke
t
D)t
hequant
i
t
yoft
hepr
oduc
ts
uppl
i
e
d
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
75/75
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Tabl
e3.
2
KonaCoffee
Pr
i
c
eper
ki
l
ogr
am
(
dol
l
ar
s
)
Luke
'
s
Quant
i
t
y
Demanded
(
kg)
Ra
vi
'
s
Quant
i
t
y
Demanded
(
kg)
$10
8
6
5
4
3
9
14
18
22
0
3
7
12
18
Res
tof
Mar
ket
Quant
i
t
y
Demanded
(
kg)
23
32
68
85
110
Mar
ket
Quant
i
t
y
Demanded
(
kg)
64)Re
f
e
rt
oTabl
e3.
2.Thet
abl
eaboves
howst
hede
mands
c
he
dul
e
sf
orKonac
offe
eoft
woi
ndi
vi
dual
s
(
LukeandRa
vi
)andt
her
e
s
toft
hemar
ke
t
.Atapr
i
c
eof$6,t
hequant
i
t
yde
mande
di
nt
hemar
ke
twoul
d
be
A)36kg.
B)68kg.
C)89kg.
D)123kg.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
6263
Topi
c
:De
mandSc
he
dul
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
18
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65)Re
f
e
rt
oTabl
e3.
2.Thet
abl
eaboves
howst
hede
mands
c
he
dul
e
sf
orKonac
offe
eoft
woi
ndi
vi
dual
s
(
LukeandRa
vi
)andt
her
e
s
toft
hemar
ke
t
.I
ft
hepr
i
c
eofKonac
offe
er
i
s
e
sf
r
om $4t
o$5,t
hemar
ke
t
quant
i
t
yde
mande
dwoul
d
A)de
c
r
e
as
eby35kg.
B)i
nc
r
e
as
eby115kg.
C)i
nc
r
e
as
eby35kg.
D)de
c
r
e
as
eby115kg.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6263
Topi
c
:De
mandSc
he
dul
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
66)The________e
ffe
c
tofapr
i
c
ec
hanger
e
f
e
r
st
ot
hei
mpac
tac
hangei
nt
hepr
i
c
eofagoodhasona
c
ons
ume
r
'
spur
c
has
i
ngpowe
r
.
A)i
nc
ome
B)s
ubs
t
i
t
ut
i
on
C)de
mogr
aphi
c
s
D)c
e
t
e
r
i
spa
r
i
b
us
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:I
nc
omeEffe
c
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
67)Whi
c
hoft
hef
ol
l
owi
ngwi
l
lno
ts
hi
f
tt
hede
mandc
ur
vef
oragood?
A)ani
nc
r
e
as
ei
npopul
a
t
i
on
B)ani
nc
r
e
as
ei
nt
hepr
i
c
eoft
hegood
C)ade
c
r
e
as
ei
nt
hepr
i
c
eofas
ubs
t
i
t
ut
egood
D)ani
nc
r
e
as
ei
nc
ons
ume
ri
nc
ome
s
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
64
Topi
c
:Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
68)A________de
mandc
ur
vef
ors
hampoowoul
dbec
a
us
e
dbyac
hangei
nt
hepr
i
c
eofs
hampoo.
A)r
i
ght
war
ds
hi
f
toft
he
B)l
e
f
t
war
ds
hi
f
toft
he
C)move
me
ntal
ongt
he
D)pos
i
t
i
ve
l
ys
l
ope
d
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
63
Topi
c
:Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
69)Thes
ubs
t
i
t
ut
i
one
ffe
c
tofapr
i
c
ec
hanger
e
f
e
r
st
o
A)t
hec
hangei
nquant
i
t
yde
mande
dt
ha
tr
e
s
ul
t
sf
r
om ac
hangei
npr
i
c
emaki
ngagoodmor
eorl
e
s
s
e
xpe
ns
i
ver
e
l
a
t
i
vet
oot
he
rgoodst
ha
tar
es
ubs
t
i
t
ut
e
s
.
B)t
hes
hi
f
tofade
mandc
ur
vewhe
nt
hepr
i
c
eofas
ubs
t
i
t
ut
egoodc
hange
s
.
C)t
hemove
me
ntal
ongt
hede
mandc
ur
veduet
oac
hangei
npur
c
has
i
ngpowe
rbr
oughtaboutbyt
he
pr
i
c
ec
hange
.
19
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D)t
hes
hi
f
ti
nt
hede
mandc
ur
veduet
oac
hangei
npur
c
has
i
ngpowe
rbr
oughtaboutbyt
hepr
i
c
e
c
hange
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:Subs
t
i
t
ut
i
onEffe
c
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
70)I
ft
hepr
i
c
eofpot
a
t
oc
hi
psf
al
l
s
,t
hes
ubs
t
i
t
ut
i
one
ffe
c
tduet
ot
hepr
i
c
ec
hangewi
l
lc
aus
e
A)ani
nc
r
e
as
ei
nt
hede
mandf
orpot
a
t
oc
hi
ps
.
B)ani
nc
r
e
as
ei
nt
hede
mandf
orc
or
nc
hi
ps
,as
ubs
t
i
t
ut
ef
orpot
a
t
oc
hi
ps
.
C)ani
nc
r
e
as
ei
nt
hequant
i
t
yofpot
a
t
oc
hi
psde
ma
nde
d.
D)ade
c
r
e
as
ei
nt
hequant
i
t
yofpot
a
t
oc
hi
psde
mande
d.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:Subs
t
i
t
ut
i
onEffe
c
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
71)Thei
nc
omee
ffe
c
tofapr
i
c
ec
hanger
e
s
ul
t
si
na
A)s
hi
f
toft
hede
mandc
ur
vewhe
ni
nc
omec
hange
s
.
B)move
me
ntal
ongt
hede
mandc
ur
veduet
oac
hangei
nr
e
l
a
t
i
vepr
i
c
e
s
.
C)s
hi
f
toft
hede
mandc
ur
veduet
oac
hangei
npur
c
has
i
ngpowe
rbr
oughtaboutbyt
hepr
i
c
ec
hange
.
D)move
me
ntal
ongt
hede
mandc
ur
veduet
oac
hangei
npur
c
has
i
ngpowe
rbr
oughtaboutbyt
hepr
i
c
e
c
hange
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
71/71
Topi
c
:I
nc
omeEffe
c
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
72)Themor
es
ubs
t
i
t
ut
e
st
he
r
ear
ef
oragood
A)t
hefla
t
t
e
rt
hede
mandc
ur
vewi
l
lbe
.
B)t
hes
t
e
e
pe
rt
hede
mandc
ur
vewi
l
lbe
.
C)t
hel
ar
ge
rt
hei
nc
omee
ffe
c
t
.
D)t
hel
e
s
si
mpor
t
antt
hepr
i
c
eoft
hegoodwi
l
lbede
t
e
r
mi
ni
ngde
mand.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:Subs
t
i
t
ut
i
onEffe
c
t
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Anal
yt
i
cSki
l
l
s
73)I
fade
c
r
e
as
ei
ni
nc
omel
e
adst
oi
nade
c
r
e
as
ei
nt
hede
mandf
ori
c
ec
r
e
am,t
he
ni
c
ec
r
e
am i
s
A)anor
malgood.
B)ane
ut
r
algood.
C)ac
ompl
e
me
nt
.
D)ane
c
e
s
s
i
t
y
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
64
Topi
c
:I
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
20
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74)I
fade
c
r
e
as
ei
ni
nc
omel
e
adst
oani
nc
r
e
as
ei
nt
hede
mandf
ormac
ar
oni
,t
he
nmac
ar
onii
s
A)ani
nf
e
r
i
orgood.
B)ane
ut
r
algood.
C)ane
c
e
s
s
i
t
y
.
D)anor
malgood.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
64
Topi
c
:I
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
21
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Fi
gur
e3.
2
75)Re
f
e
rt
oFi
g
ur
e3.
2.Ani
nc
r
e
as
ei
nt
hepr
i
c
eofac
ompl
e
me
ntwoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
nt
f
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
76)Re
f
e
rt
oFi
g
ur
e3.
2.Ade
c
r
e
as
ei
nt
hee
xpe
c
t
e
df
ut
ur
epr
i
c
eoft
hepr
oduc
twoul
dber
e
pr
e
s
e
nt
e
dbya
move
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
66
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
22
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77)Re
f
e
rt
oFi
g
ur
e3.
2.I
ft
hepr
oduc
tr
e
pr
e
s
e
nt
e
di
sanor
malgood,ani
nc
r
e
as
ei
ni
nc
omewoul
dbe
r
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
78)Re
f
e
rt
oFi
g
ur
e3.
2.Ani
nc
r
e
as
ei
nt
hepr
i
c
eoft
hepr
oduc
twoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
nt
f
r
om
A)At
oB.
B)Bt
oA.
C)D1t
oD2
.
D)D2t
oD1.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
63
Topi
c
:Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
79)How hast
hegr
owi
ngpopul
ar
i
t
yofonl
i
nes
hoppi
nga
ffe
c
t
e
dt
hemar
ke
tf
orc
l
ot
hi
nga
tr
e
t
ai
l
de
par
t
me
nts
t
or
e
s
?
A)Thede
mandc
ur
vef
orc
l
ot
hi
nga
tr
e
t
ai
lde
par
t
me
nts
t
or
e
shass
hi
f
t
e
dt
ot
her
i
ght
.
B)Thede
mandc
ur
vef
orc
l
ot
hi
nga
tr
e
t
ai
lde
par
t
me
nts
t
or
e
shass
hi
f
t
e
dt
ot
hel
e
f
t
.
C)Thes
uppl
yc
ur
vef
orc
l
ot
hi
nga
tr
e
t
ai
lde
par
t
me
nts
t
or
e
shass
hi
f
t
e
dt
ot
her
i
ght
.
D)Thes
uppl
yc
ur
vef
orc
l
ot
hi
nga
tr
e
t
ai
lde
par
t
me
nts
t
or
e
shass
hi
f
t
e
dt
ot
hel
e
f
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
23
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80)Suppos
et
ha
tar
e
c
e
nts
t
udyfindst
ha
ts
t
r
i
c
t
e
ral
c
oholpol
i
c
i
e
s
,s
uc
hasr
ai
s
i
ngt
hepr
i
c
eofal
c
oholor
banni
ngt
hes
al
eofal
c
oholc
l
os
et
ouni
ve
r
s
i
t
yc
ampus
e
s
,de
c
r
e
as
et
henumbe
rofs
t
ude
nt
swhous
e
mar
i
j
uana
.Ont
hebas
i
soft
hi
si
nf
or
ma
t
i
on,how woul
dyoude
s
c
r
i
beal
c
oholandmar
i
j
uana?
A)Thet
wogoodsar
es
ubs
t
i
t
ut
e
si
nc
ons
umpt
i
on.
B)The
r
ei
snor
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
het
wogoods
.
C)Thet
wogoodsar
ec
ompl
e
me
nt
si
nc
ons
umpt
i
on.
D)The
yar
ebot
hl
uxur
ygoods
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
81)I
ft
hepr
i
c
eofpr
opane
f
ue
l
l
e
dgasBBQsde
c
r
e
a
s
e
d,t
he
n
A)t
hede
mandf
orpr
opanewoul
dde
c
r
e
as
e
.
B)t
hede
mandf
orpr
opanewoul
di
nc
r
e
as
e
.
C)t
hequant
i
t
yofpr
opanede
mande
dwoul
di
nc
r
e
as
e
.
D)t
hequant
i
t
yofpr
opanede
mande
dwoul
dde
c
r
e
as
e
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
82)Suppos
et
ha
twhe
nt
hepr
i
c
eofhambur
ge
r
si
nc
r
e
as
e
s
,t
heRui
zf
ami
l
ybuysmor
ehotdogs
.Tot
he
Rui
zf
ami
l
y
,
A)hambur
ge
r
sandhotdogsar
ec
ompl
e
me
nt
s
.
B)hambur
ge
r
sandhotdogsar
ei
nf
e
r
i
orgoods
.
C)hambur
ge
r
sandhotdogsar
enor
malgoods
.
D)hambur
ge
r
sandhotdogsar
es
ubs
t
i
t
ut
e
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
83)Suppos
et
ha
twhe
nt
hepr
i
c
eofi
c
ec
r
e
am i
nc
r
e
a
s
e
s
,Li
zabuysl
e
s
shotf
udge
.ToLi
za
,
A)i
c
ec
r
e
am andhotf
udgear
ec
ompl
e
me
nt
s
.
B)i
c
ec
r
e
am andhotf
udgeands
ubs
t
i
t
ut
e
s
.
C)i
c
ec
r
e
am andhotf
udgear
enor
malgoods
.
D)i
c
ec
r
e
am i
sanor
malgoodandhotf
udgei
sani
nf
e
r
i
orgood.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
84)Se
ve
r
als
t
udi
e
sha
ves
hownpr
omi
s
i
ngl
i
nksbe
t
we
e
ngr
e
e
nt
e
ac
ons
umpt
i
onandc
anc
e
rpr
e
ve
nt
i
on.
How wi
l
lt
hi
saffe
c
tt
hemar
ke
tf
orgr
e
e
nt
e
a?
A)Thequant
i
t
yofgr
e
e
nt
e
ade
mande
dwi
l
li
nc
r
e
as
ebe
c
aus
eofac
hangei
nt
as
t
e
si
nf
a
vourofgr
e
e
nt
e
a
.
B)Thegr
e
e
nt
e
ade
mandc
ur
vewi
l
ls
hi
f
tt
ot
her
i
ghtbe
c
aus
eofac
hangei
nt
as
t
e
si
nf
a
vourofgr
e
e
nt
e
a
.
C)Thegr
e
e
nt
e
ade
mandc
ur
vewi
l
ls
hi
f
tt
ot
hel
e
f
tbe
c
aus
et
hi
sne
wi
nf
or
ma
t
i
onwi
l
li
nc
r
e
as
et
hepr
i
c
e
ofgr
e
e
nt
e
a
.
24
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D)Thequant
i
t
yofgr
e
e
nt
e
ade
mande
dwi
l
lde
c
r
e
as
ebe
c
aus
et
hi
sne
wi
nf
or
ma
t
i
onwi
l
li
nc
r
e
as
et
he
pr
i
c
eofgr
e
e
nt
e
a
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
66
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
85)I
ft
hepr
i
c
eofgas
ol
i
nei
nc
r
e
as
e
s
,wha
twi
l
lbet
hei
mpac
ti
nt
hemar
ke
tf
orpubl
i
ct
r
ans
por
t
a
t
i
on?
A)Thede
mandc
ur
vef
orpubl
i
ct
r
ans
por
t
a
t
i
onwi
l
ls
hi
f
tt
ot
her
i
ght
.
B)Thequant
i
t
yofpubl
i
ct
r
ans
por
t
a
t
i
onde
mande
dwi
l
li
nc
r
e
as
e
.
C)Thede
mandc
ur
vef
orpubl
i
ct
r
ans
por
t
a
t
i
onwi
l
ls
hi
f
tt
ot
hel
e
f
t
.
D)Thequant
i
t
yofpubl
i
ct
r
ans
por
t
a
t
i
onde
mande
dwi
l
lde
c
r
e
as
e
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
86)Manyuni
ve
r
s
i
t
i
e
soffe
rs
t
ude
ntbuspas
s
e
s(
of
t
e
ni
nc
l
ude
dwi
t
hs
t
ude
ntf
e
e
s
)i
nane
ffor
tt
or
e
duc
e
de
mandf
oronc
ampuspar
ki
ng.Thi
sme
ansuni
ve
r
s
i
t
i
e
smus
tbe
l
i
e
vet
ha
t
A)buspas
s
e
sandonc
ampuspar
ki
ngar
es
ubs
t
i
t
ut
e
s
.
B)t
aki
ngt
hebusi
sbe
t
t
e
rf
ors
t
ude
nt
s
.
C)s
t
ude
nt
sar
ebada
tpar
ki
ng.
D)buspas
s
e
sar
enor
malgoods
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:Subs
t
i
t
ut
i
onEffe
c
t
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
25
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87)How doe
st
hei
nc
r
e
as
i
ngus
eofdi
gi
t
alc
ame
r
asaffe
c
tt
hemar
ke
tf
ort
r
adi
t
i
onalc
ame
r
afil
m?
A)Thede
mandc
ur
vef
ort
r
adi
t
i
onalc
ame
r
afil
mi
ss
hi
f
t
i
ngt
ot
her
i
ght
.
B)Thequant
i
t
yoft
r
adi
t
i
onalc
ame
r
afil
m de
mande
di
sde
c
r
e
as
i
ng.
C)Thequant
i
t
yoft
r
adi
t
i
onalc
ame
r
afil
m de
mande
di
si
nc
r
e
as
i
ng.
D)Thede
mandc
ur
vef
ort
r
adi
t
i
onalc
ame
r
afil
mi
ss
hi
f
t
i
ngt
ot
hel
e
f
t
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
88)Te
c
hnol
ogi
c
aladvanc
e
me
nt
sha
vel
e
dt
ol
owe
rpr
i
c
e
sandani
nc
r
e
as
ei
ns
al
e
sofc
ol
ourl
as
e
rpr
i
nt
e
r
s
.
How wi
l
lt
hi
saffe
c
tt
hemar
ke
tf
orl
as
e
rpr
i
nt
e
rt
one
rc
ar
t
r
i
dge
s
?
A)Thede
mandc
ur
vef
orl
as
e
rpr
i
nt
e
rt
one
rc
ar
t
r
i
dge
swi
l
ls
hi
f
tt
ot
her
i
ght
.
B)Thede
mandc
ur
vef
orl
as
e
rpr
i
nt
e
rt
one
rc
ar
t
r
i
dge
swi
l
ls
hi
f
tt
ot
hel
e
f
t
.
C)Thequant
i
t
yofl
as
e
rpr
i
nt
e
rt
one
rc
ar
t
r
i
dge
sde
mande
dwi
l
li
nc
r
e
as
e
.
D)Thequant
i
t
yofl
as
e
rpr
i
nt
e
rt
one
rc
ar
t
r
i
dge
sde
mande
dwi
l
lde
c
r
e
as
e
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
89)Buye
r
ss
c
r
ambl
e
dt
os
e
c
ur
es
t
oc
ksofAus
t
r
al
i
anwoolf
ol
l
owi
ngaf
or
e
c
as
t
e
d11pe
r
c
e
ntde
c
l
i
nei
n
woolpr
oduc
t
i
on.Wha
twi
l
lhappe
ni
nt
heAus
t
r
al
i
anwoolmar
ke
tasar
e
s
ul
toft
hi
sannounc
e
me
nt
?
A)Thede
mandc
ur
vef
orAus
t
r
al
i
anwoolwi
l
ls
hi
f
tt
ot
hel
e
f
ti
nant
i
c
i
pa
t
i
onofhi
ghe
rpr
i
c
e
si
nt
he
f
ut
ur
e
.
B)Thede
mandc
ur
vef
orAus
t
r
al
i
anwoolwi
l
ls
hi
f
tt
ot
her
i
ghti
nant
i
c
i
pa
t
i
onofhi
ghe
rpr
i
c
e
si
nt
he
f
ut
ur
e
.
C)Thequant
i
t
yofAus
t
r
al
i
anwoolde
mande
dwi
l
li
nc
r
e
as
ei
nant
i
c
i
pa
t
i
onofhi
ghe
rpr
i
c
e
si
nt
hef
ut
ur
e
.
D)Thequant
i
t
yofAus
t
r
al
i
anwoolde
mande
dwi
l
lde
c
r
e
as
ei
nant
i
c
i
pa
t
i
onofl
owe
rquant
i
t
i
e
si
nt
he
f
ut
ur
e
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
67
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
26
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90)Fac
t
or
yi
nc
e
nt
i
ve
sonc
e
l
lphone
sha
vee
nc
our
a
ge
dc
ons
ume
r
st
oupgr
adet
he
i
rphone
s
.How doe
s
t
hi
sa
ffe
c
tt
hemar
ke
tf
orbl
ue
t
oot
hhe
ads
e
t
s
?
A)I
ti
nc
r
e
as
e
st
hequant
i
t
yofbl
ue
t
oot
hhe
ads
e
t
sde
mande
d.
B)I
tde
c
r
e
as
e
st
hequant
i
t
yofbl
ue
t
oot
hhe
ads
e
t
sde
mande
d.
C)I
ti
nc
r
e
as
e
sde
mandf
orbl
ue
t
oot
hhe
ads
e
t
s
.
D)I
tde
c
r
e
as
e
sde
mandf
orbl
ue
t
oot
hhe
ads
e
t
s
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
6566
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
91)I
nJ
anuar
y
,buye
r
sofgol
de
xpe
c
tt
ha
tt
hepr
i
c
eofgol
dwi
l
lf
al
li
nFe
br
uar
y
.Wha
twi
l
lhappe
ni
nt
he
gol
dmar
ke
ti
nJ
anuar
y
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
?
A)Thede
mandc
ur
vewi
l
ls
hi
f
tt
ot
her
i
ght
.
B)Thequant
i
t
yde
mande
dwi
l
li
nc
r
e
as
e
.
C)Thequant
i
t
yde
mande
dwi
l
lde
c
r
e
as
e
.
D)Thede
mandc
ur
vewi
l
ls
hi
f
tt
ot
hel
e
f
t
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
67
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
92)I
nSe
pt
e
mbe
r
,buye
r
sofs
i
l
ve
re
xpe
c
tt
ha
tt
hepr
i
c
eofs
i
l
ve
rwi
l
lr
i
s
ei
nOc
t
obe
r
.Wha
twi
l
lhappe
ni
n
t
hes
i
l
ve
rmar
ke
ti
nSe
pt
e
mbe
r
,hol
di
ngal
le
l
s
ec
ons
t
ant
?
A)Thequant
i
t
yde
mande
dwi
l
lde
c
r
e
as
e
.
B)Thede
mandc
ur
vewi
l
ls
hi
f
tt
ot
hel
e
f
t
.
C)Thede
mandc
ur
vewi
l
ls
hi
f
tt
ot
her
i
ght
.
D)Thequant
i
t
yde
mande
dwi
l
li
nc
r
e
as
e
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
75/75
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
93)Lobs
t
e
ri
sc
ons
i
de
r
e
da
A)bot
hanor
malandi
nf
e
r
i
orgood,de
pe
ndi
ngonl
oc
a
t
i
on
B)i
nf
e
r
i
orgood.
C)anor
malgood.
D)bot
has
ubs
t
i
t
ut
eandac
ompl
e
me
ntgood,de
pe
ndi
ngonl
oc
a
t
i
on.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
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c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
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ompe
t
i
t
i
vemar
ke
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fle
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t
i
veThi
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i
alFe
a
t
ur
e
:Maki
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c
t
i
on:TheTr
ans
f
or
ma
t
i
onofLobs
t
e
rf
r
om I
nf
e
r
i
ort
oNor
malGood
94)Dur
i
ngt
her
e
c
ove
r
yf
r
om t
her
e
c
e
s
s
i
onof20082009,s
al
e
sofl
owc
os
tbe
e
rf
e
l
landde
mandf
or
mi
c
r
obr
e
we
dbe
e
rr
os
e
.Thi
sme
ans
A)t
hel
owc
os
tbe
e
ri
sofl
ow qual
i
t
y
.
B)t
hebe
e
ri
sbe
i
ngs
ol
di
nl
ar
ge
randl
ar
ge
rc
ont
ai
ne
r
s
.
C)e
ve
r
yonel
i
ke
smi
c
r
obr
e
we
dbe
e
rbe
t
t
e
rt
hanl
owc
os
tbe
e
r
.
27
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D)t
hede
mandf
ormi
c
r
obr
e
we
dbe
e
ri
nc
r
e
as
e
swhe
ni
nc
omei
nc
r
e
as
e
s
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:1
CE
Le
ar
ni
ngOut
c
ome
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c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
95)Thede
mandf
orme
di
c
als
e
r
vi
c
e
si
nCanadai
se
xpe
c
t
e
dt
oi
nc
r
e
as
ei
nupc
omi
ngye
ar
sbe
c
aus
e
A)t
hef
r
ac
t
i
onofpe
opl
eove
rt
hea
geof65i
si
nc
r
e
as
i
ng.
B)me
di
c
als
e
r
vi
c
e
sar
ebe
c
omi
ngl
e
s
se
xpe
ns
i
ve
.
C)t
hebabyboom ge
ne
r
a
t
i
oni
sfinal
l
yl
owe
r
i
ngt
hef
r
ac
t
i
onofpe
opl
eove
rt
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geof50.
D)e
ve
rmor
eCanadi
ansar
ee
xpe
c
t
e
dt
ot
r
a
ve
lt
oot
he
rc
ount
r
i
e
st
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dl
ongwai
tt
i
me
sf
orme
di
c
al
s
e
r
vi
c
e
s
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
6667
Topi
c
:Popul
a
t
i
onandDe
mogr
aphi
c
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
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heConne
c
t
i
on:TheAgi
ngBabyBoome
r
s
96)Agi
ngbabyboome
r
sar
ee
xpe
c
t
e
dt
oha
veane
ffe
c
tont
hehous
i
ngmar
ke
tbe
c
aus
e
A)t
he
yha
ver
e
t
i
r
e
me
ntmone
yt
ous
et
oge
toutofapar
t
me
nt
sandi
nt
ol
ar
gehome
s
.
B)t
he
yt
e
ndt
obuyl
ar
gevac
a
t
i
onhome
st
oac
c
ompanyt
he
i
rpr
i
mar
yr
e
s
i
de
nc
e
s
.
C)ol
de
rpe
opl
eof
t
e
ndowns
i
zet
he
i
rhous
i
ngbymovi
ngf
r
om l
ar
ge
rhome
si
nt
os
mal
l
e
rhome
s
.
D)t
he
yha
ver
e
ac
he
dt
hea
gewhe
r
et
hegove
r
nme
ntwi
l
ls
ubs
i
di
zemor
t
ga
ge
sval
ue
dove
r$500,
000.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
6667
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c
:Popul
a
t
i
onandDe
mogr
aphi
c
s
2CE:1
CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheAgi
ngBabyBoome
r
s
28
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97)I
fc
ons
ume
r
svi
e
wt
abl
e
tc
omput
e
r
sasgoodr
e
pl
ac
e
me
nt
sf
or________,de
mandwi
l
lmos
tl
i
ke
l
ybe
gr
e
a
t
e
rt
hani
fc
ons
ume
r
svi
e
wt
abl
e
tc
omput
e
r
sasgoodr
e
pl
ac
e
me
nt
sf
or________.
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r
e
ade
r
s
;l
apt
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e
r
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e
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;de
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kt
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e
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s
kt
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e
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e
r
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ne
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al
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apt
opc
omput
e
r
s
;e
r
e
ade
r
s
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
65
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c
:Tas
t
e
s
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CE
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ar
ni
ngOut
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ome
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o4:
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ai
nhow s
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t
i
oni
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t
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t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
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ng
98)Thei
nc
omee
ffe
c
tofapr
i
c
ec
hanger
e
f
e
r
st
ot
hec
hangei
nt
hequant
i
t
yde
mande
dofagoodt
ha
t
r
e
s
ul
t
sf
r
om ac
hangei
nt
hepr
i
c
eofas
ubs
t
i
t
ut
epr
oduc
t
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
63
Topi
c
:I
nc
omeEffe
c
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
99)I
ft
hepr
i
c
eofpe
ac
he
s(
as
ubs
t
i
t
ut
ef
orpl
ums
)i
nc
r
e
as
e
s
,t
hede
mandf
orpl
umswi
l
lde
c
r
e
as
e
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
100)Ani
nf
e
r
i
orgoodi
sagoodf
orwhi
c
ht
hequant
i
t
yde
mande
di
nc
r
e
as
e
sast
hepr
i
c
ede
c
r
e
as
e
s
,
hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:1
CE
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ar
ni
ngOut
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ome
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r
o4:
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ai
nhow s
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mandf
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t
i
oni
nc
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t
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i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
101)Onc
eagoodi
sc
ons
i
de
r
e
di
nf
e
r
i
or
,i
twi
l
lal
wa
ysbec
ons
i
de
r
e
di
nf
e
r
i
or
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:I
nc
ome
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
1Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
ede
mand
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheTr
ans
f
or
ma
t
i
onofLobs
t
e
rf
r
om I
nf
e
r
i
ort
oNor
malGood
29
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102)Thes
ubs
t
i
t
ut
i
one
ffe
c
te
xpl
ai
nswhyt
he
r
ei
sani
nve
r
s
er
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
t
andt
hequant
i
t
yoft
hepr
oduc
tde
mande
d.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
63
Topi
c
:Subs
t
i
t
ut
i
onEffe
c
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
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c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
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ompe
t
i
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ke
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AACSB:Re
fle
c
t
i
veThi
nki
ng
103)I
fc
ons
ume
r
sbe
l
i
e
vet
hepr
i
c
eofhybr
i
dve
hi
c
l
e
swi
l
lde
c
r
e
as
ei
nt
hef
ut
ur
e
,t
hi
swi
l
lc
aus
et
he
de
mandf
orhybr
i
dve
hi
c
l
e
st
ode
c
r
e
as
enow.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
67
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
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c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
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t
i
oni
nc
ompe
t
i
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vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
104)Wha
ti
st
hedi
ffe
r
e
nc
ebe
t
we
e
na"
c
hangei
nde
mand"anda"
c
hangei
nquant
i
t
yde
mande
d"
?
Ans
we
r
:A"
c
hangei
nde
mand"me
anst
hede
mandc
ur
vehass
hi
f
t
e
d.Thi
si
sc
aus
e
dbyac
hangei
nany
var
i
abl
eot
he
rt
hanpr
i
c
et
ha
tc
ani
nflue
nc
et
hemar
ke
tde
mandoft
hegoodi
nque
s
t
i
on.A"
c
hangei
n
quant
i
t
yde
mande
d"r
e
f
e
r
st
oamove
me
ntal
ongt
hede
mandc
ur
veandt
hi
si
sc
aus
e
dbyac
hangei
nt
he
pr
i
c
eoft
hegoodi
nque
s
t
i
on.
Di
ff:
1 Pa
geRe
f
:
6869
Topi
c
:De
mandvs
.Quant
i
t
yDe
mande
d
2CE:1
CE
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ar
ni
ngOut
c
ome
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c
r
o4:
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ai
nhow s
uppl
yandde
mandf
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t
i
oni
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ompe
t
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vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
105)Expl
ai
nt
hel
a
w ofde
mand.
Ans
we
r
:Thel
a
w ofde
mandi
st
her
ul
et
ha
t
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
,whe
nt
hepr
i
c
eofa
pr
oduc
tf
al
l
s
,t
hequant
i
t
yde
mande
doft
hepr
oduc
twi
l
li
nc
r
e
as
e
,andwhe
nt
hepr
i
c
eofapr
oduc
tr
i
s
e
s
,
t
hequant
i
t
yde
mande
doft
hepr
oduc
twi
l
lde
c
r
e
as
e
.
Di
ff:
3 Pa
geRe
f
:
63
Topi
c
:La
w ofDe
mand
2CE:1
CE
Le
ar
ni
ngOut
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ome
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c
r
o4:
Expl
ai
nhow s
uppl
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mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
30
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106)Col
ewasdi
s
c
us
s
i
ngt
hemar
ke
tf
orc
oc
oabe
answi
t
hhi
sf
r
i
e
ndJ
ohnSc
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dt
.Col
es
ai
d,"
Eve
rs
i
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e
Ve
ne
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l
aannounc
e
dt
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ti
t
sc
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ve
s
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s
te
ve
ri
nfif
t
e
e
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ar
s
,t
hepr
i
c
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oc
oabe
ans
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e
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i
s
i
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i
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i
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.It
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nkt
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ans
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sCol
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i
ght
?Br
i
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ai
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.
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we
r
:Col
ehasc
onf
us
e
dac
hangei
nde
mand(
asar
e
s
ul
tofac
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nt
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xpe
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t
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i
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e
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ntoft
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s
t
,buye
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se
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t
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t
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tt
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i
c
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oabe
answoul
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nant
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t
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e
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nt
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ur
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t
hi
sl
e
dt
oahi
ghe
re
qui
l
i
br
i
um pr
i
c
e
.Asl
ongasbuye
r
sbe
l
i
e
vet
ha
tt
hepr
i
c
eofc
oc
oabe
answi
l
lr
i
s
ei
n
t
hef
ut
ur
e
,t
he
ywi
l
li
nc
r
e
as
et
he
i
rde
mandt
oda
y
.
Di
ff:
2 Pa
geRe
f
:
6869
Topi
c
:De
mandvs
.Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
107)St
a
t
ewhe
t
he
re
ac
hoft
hef
ol
l
owi
ngpai
r
sofpr
oduc
t
sar
ec
ompl
e
me
nt
s
,s
ubs
t
i
t
ut
e
s
,orunr
e
l
a
t
e
d.
a
. s
wi
m finsands
c
ubat
anks
b. Coc
aCol
aandVol
ks
wa
ge
ns
c
. pr
i
nt
e
r
sandi
nkc
ar
t
r
i
dge
s
d. i
c
eandi
c
ec
he
s
t
s
e
. He
i
ne
ke
nandCor
ona
Ans
we
r
:
a
.c
ompl
e
me
nt
s
b. unr
e
l
a
t
e
d
c
.c
ompl
e
me
nt
s
d. c
ompl
e
me
nt
s
e
.s
ubs
t
i
t
ut
e
s
Di
ff:
1 Pa
geRe
f
:
65
Topi
c
:Pr
i
c
eofRe
l
a
t
e
dGoods
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
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3.2 Discuss the variables that influence supply
1)As
uppl
ys
c
he
dul
e
A)i
sat
abl
et
ha
ts
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
tandt
hequant
i
t
yoft
hepr
oduc
t
s
uppl
i
e
d.
B)i
sac
ur
vet
ha
ts
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
tandt
hequant
i
t
yoft
hepr
oduc
t
s
uppl
i
e
d.
C)i
st
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hes
uppl
yofagoodandt
hec
os
tofpr
oduc
i
ngt
hegood.
D)i
sat
abl
et
ha
ts
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
tandt
hequant
i
t
yoft
hepr
oduc
t
t
ha
tpr
oduc
e
r
sandc
ons
ume
r
sar
ewi
l
l
i
ngt
oe
x
c
hange
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
6970
Topi
c
:Suppl
ySc
he
dul
e
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
2)I
fi
nt
hemar
ke
tf
orbl
ue
be
r
r
i
e
s
,t
hes
uppl
yc
ur
vehass
hi
f
t
e
dt
ot
hel
e
f
t
,
A)t
hes
uppl
yofpe
ac
he
shasi
nc
r
e
as
e
d.
B)t
hes
uppl
yofpe
ac
he
shasde
c
r
e
as
e
d.
C)t
hequant
i
t
yofpe
ac
he
ss
uppl
i
e
dhasi
nc
r
e
as
e
d.
D)t
hequant
i
t
yofpe
ac
he
ss
uppl
i
e
dhasde
c
r
e
as
e
d.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
70
Topi
c
:Suppl
yCur
ve
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
3)I
f
,i
nt
hemar
ke
tf
oror
ange
s
,t
hes
uppl
yhasi
nc
r
e
as
e
d,t
he
n
A)t
hes
uppl
yc
ur
vef
oror
ange
shass
hi
f
t
e
dt
ot
her
i
ght
.
B)t
hes
uppl
yc
ur
vef
oror
ange
shass
hi
f
t
e
dt
ot
hel
e
f
t
.
C)t
he
r
ehasbe
e
namove
me
ntupwar
dsal
ongt
hes
uppl
yc
ur
vef
oror
ange
s
.
D)t
he
r
ehasbe
e
namove
me
ntdownwar
dsal
ongt
hes
uppl
yc
ur
vef
oror
ange
s
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
70
Topi
c
:Suppl
yCur
ve
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
4)Las
tye
ar
,t
hePot
t
e
r
yPal
ac
es
uppl
i
e
d8,
000c
e
r
ami
cpot
sa
t$40e
ac
h.Thi
sye
ar
,t
hec
ompanys
uppl
i
e
d
t
hes
amequant
i
t
yofc
e
r
ami
cpot
sa
t$55e
ac
h.Bas
e
dont
hi
se
vi
de
nc
e
,t
hePot
t
e
r
yPal
ac
ehas
e
xpe
r
i
e
nc
e
d
A)ade
c
r
e
as
ei
ns
uppl
y
.
B)ani
nc
r
e
as
ei
ns
uppl
y
.
C)ani
nc
r
e
as
ei
nt
hequant
i
t
ys
uppl
i
e
d.
D)ade
c
r
e
as
ei
nt
hequant
i
t
ys
uppl
i
e
d.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
70
Topi
c
:Suppl
ySc
he
dul
e
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
5)Wha
ti
st
hedi
ffe
r
e
nc
ebe
t
we
e
nan"
i
nc
r
e
as
ei
ns
uppl
y"andan"
i
nc
r
e
as
ei
nquant
i
t
ys
uppl
i
e
d"
?
A)The
r
ei
snodi
ffe
r
e
nc
ebe
t
we
e
nt
het
wot
e
r
ms
;t
he
ybot
hr
e
f
e
rt
oas
hi
f
toft
hes
uppl
yc
ur
ve
.
B)The
r
ei
snodi
ffe
r
e
nc
ebe
t
we
e
nt
het
wot
e
r
ms
;t
he
ybot
hr
e
f
e
rt
oamove
me
ntal
ongagi
ve
ns
uppl
y
c
ur
ve
.
C)An"
i
nc
r
e
as
ei
ns
uppl
y"me
anst
hes
uppl
yc
ur
vehass
hi
f
t
e
dt
ot
her
i
ghtwhi
l
ean"
i
nc
r
e
as
ei
nquant
i
t
y
32
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s
uppl
i
e
d"me
ansa
tanygi
ve
npr
i
c
es
uppl
yhasi
nc
r
e
as
e
d.
D)An"
i
nc
r
e
as
ei
ns
uppl
y"me
anst
hes
uppl
yc
ur
vehass
hi
f
t
e
dt
ot
her
i
ghtwhi
l
ean"
i
nc
r
e
as
ei
n
quant
i
t
ys
uppl
i
e
d"r
e
f
e
r
st
oamove
me
ntal
ongagi
ve
ns
uppl
yc
ur
vei
nr
e
s
pons
et
oani
nc
r
e
as
ei
npr
i
c
e
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
73
Topi
c
:Suppl
yvs
.Quant
i
t
ySuppl
i
e
d
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
6)Onewoul
ds
pe
akofac
hangei
nt
hequant
i
t
yofagoods
uppl
i
e
d,r
a
t
he
rt
hanac
hangei
ns
uppl
y
,i
f
A)s
uppl
i
e
re
xpe
c
t
a
t
i
onsaboutf
ut
ur
epr
i
c
e
sc
hange
.
B)t
hepr
i
c
eoft
hegoodc
hange
s
.
C)t
hec
os
tofpr
oduc
i
ngt
hegoodc
hange
s
.
D)pr
i
c
e
sofs
ubs
t
i
t
ut
e
si
npr
oduc
t
i
onc
hange
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
73
Topi
c
:Quant
i
t
ySuppl
i
e
d
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
7)Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
eade
c
r
e
as
ei
nt
hes
uppl
yofmi
l
k?
A)ani
nc
r
e
as
ei
nt
hepr
i
c
eofc
ooki
e
s(
as
s
umi
ngt
ha
tmi
l
kandc
ooki
e
sar
ec
ompl
e
me
nt
s
)
B)ade
c
r
e
as
ei
nt
hepr
i
c
eofmi
l
k
C)ani
nc
r
e
as
et
hepr
i
c
eofapr
oduc
tt
ha
tpr
oduc
e
r
ss
e
l
li
ns
t
e
adofmi
l
k
D)ani
nc
r
e
as
ei
nt
henumbe
roffir
mst
ha
tpr
oduc
emi
l
k
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofSubs
t
i
t
ut
e
si
nPr
oduc
t
i
on
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
8)I
nOc
t
obe
r
,mar
ke
tanal
ys
t
spr
e
di
c
tt
ha
tt
hepr
i
c
eofpl
a
t
i
num wi
l
lf
al
li
nNove
mbe
r
.Wha
thappe
nsi
n
t
hepl
a
t
i
num mar
ke
ti
nOc
t
obe
r
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
?
A)Thes
uppl
yc
ur
ves
hi
f
t
st
ot
her
i
ght
.
B)Thes
uppl
yc
ur
ves
hi
f
t
st
ot
hel
e
f
t
.
C)Thequant
i
t
yde
mande
dandt
hequant
i
t
ys
uppl
i
e
dofpl
a
t
i
num i
nc
r
e
as
e
.
D)Thede
mandc
ur
ves
hi
f
t
st
ot
her
i
ght
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
72
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
33
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Fi
gur
e3.
3
9)Re
f
e
rt
oFi
g
ur
e3.
3.Ani
nc
r
e
as
ei
npr
i
c
eofi
nput
swoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofI
nput
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
10)Re
f
e
rt
oFi
g
ur
e3.
3.Ani
nc
r
e
as
ei
nt
henumbe
roffir
msi
nt
hemar
ke
twoul
dber
e
pr
e
s
e
nt
e
dbya
move
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
34
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11)Re
f
e
rt
oFi
g
ur
e3.
3.Ani
nc
r
e
as
ei
nt
hepr
i
c
eofs
ubs
t
i
t
ut
e
si
npr
oduc
t
i
onwoul
dber
e
pr
e
s
e
nt
e
dbya
move
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofSubs
t
i
t
ut
e
si
nPr
oduc
t
i
on
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
12)Re
f
e
rt
oFi
g
ur
e3.
3.Ade
c
r
e
as
ei
nt
hepr
i
c
eoft
hepr
oduc
twoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
72
Topi
c
:Quant
i
t
ySuppl
i
e
d
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
13)I
fCanadabanst
hei
mpor
t
a
t
i
onofbe
l
ugac
a
vi
a
r(
t
hemos
tpr
i
ze
dofc
a
vi
ar
s
)f
r
om t
heCas
pi
anSe
a
,
wha
thappe
nsi
nt
hemar
ke
tf
orc
a
vi
ari
nCanada?
A)Thes
uppl
yc
ur
ves
hi
f
t
e
dt
ot
hel
e
f
t
.
B)Thes
uppl
yc
ur
ves
hi
f
t
e
dt
ot
her
i
ght
.
C)Thede
mandc
ur
ves
hi
f
t
e
dt
ot
her
i
ght
.
D)Thede
mandc
ur
ves
hi
f
t
e
dt
ot
hel
e
f
t
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
14)Dani
e
l
l
eOc
e
anpa
ysf
ormont
hl
ypoolmai
nt
e
nanc
ef
orhe
rhomes
wi
mmi
ngpool
.La
s
twe
e
kt
he
owne
roft
hepools
e
r
vi
c
ei
nf
or
me
dDani
e
l
l
et
ha
ts
hewi
l
lha
vet
or
ai
s
ehe
rmont
hl
ys
e
r
vi
c
ef
e
ebe
c
aus
e
ofi
nc
r
e
as
e
si
nt
hepr
i
c
eofpoolc
he
mi
c
al
s
.How i
st
hemar
ke
tf
orpoolmai
nt
e
nanc
es
e
r
vi
c
e
sa
ffe
c
t
e
dby
t
hi
s
?
A)The
r
ei
sani
nc
r
e
as
ei
nt
hes
uppl
yofpoolmai
nt
e
nanc
es
e
r
vi
c
e
s
.
B)The
r
ei
sade
c
r
e
as
ei
nt
hede
mandf
orpoolmai
nt
e
nanc
es
e
r
vi
c
e
s
.
C)The
r
ei
sade
c
r
e
as
ei
nt
hequant
i
t
yofpoolmai
nt
e
nanc
es
e
r
vi
c
e
ss
uppl
i
e
d.
D)The
r
ei
sade
c
r
e
as
ei
nt
hes
uppl
yofpoolmai
nt
e
nanc
es
e
r
vi
c
e
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofI
nput
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
15)Thepopul
ar
i
t
yofdi
gi
t
alc
ame
r
ashase
nt
i
c
e
dl
ar
gedi
s
c
ounts
t
or
e
sl
i
keWal
mar
tandCos
t
c
ot
ooffe
r
di
gi
t
alphot
opr
i
nt
i
ngs
e
r
vi
c
e
s
.How doe
st
hi
sa
ffe
c
tt
hedi
gi
t
alphot
opr
i
nt
i
ngmar
ke
t
?
A)Thede
mandc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngs
e
r
vi
c
e
ss
hi
f
t
st
ot
her
i
ght
.
B)Thede
mandc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngs
e
r
vi
c
e
ss
hi
f
t
st
ot
hel
e
f
t
.
C)Thes
uppl
yc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngs
e
r
vi
c
e
ss
hi
f
t
st
ot
her
i
ght
.
D)Thes
uppl
yc
ur
vef
ordi
gi
t
alphot
opr
i
nt
i
ngs
e
r
vi
c
e
ss
hi
f
t
st
ot
hel
e
f
t
.
35
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Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
16)Al
be
r
t
ar
anc
he
r
sc
anr
ai
s
ee
i
t
he
rc
a
t
t
l
eors
he
e
pont
he
i
rl
and.Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
e
t
hes
uppl
yofs
he
e
pt
oi
nc
r
e
as
e
?
A)ani
nc
r
e
as
ei
nt
hepr
i
c
eofs
he
e
p
B)ade
c
r
e
as
ei
nt
hepr
i
c
eofc
a
t
t
l
e
C)ani
nc
r
e
as
ei
nt
hede
mandf
orc
a
t
t
l
e
D)ani
nc
r
e
as
ei
nt
hepr
i
c
eofs
he
e
pf
e
e
d
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofSubs
t
i
t
ut
e
si
nPr
oduc
t
i
on
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
17)Whi
c
hoft
hef
ol
l
owi
ngwoul
ds
hi
f
tt
hes
uppl
yc
ur
vef
ormus
i
cs
t
r
e
ami
ngappst
ot
her
i
ght
?
A)ani
nc
r
e
as
ei
nt
hepr
i
c
eofas
ubs
t
i
t
ut
ei
npr
oduc
t
i
on
B)ani
nc
r
e
as
ei
nc
ons
ume
ri
nc
ome(
as
s
umi
ngt
ha
tal
lmus
i
cs
t
r
e
ami
ngappsar
enor
malgoods
)
C)ade
c
r
e
as
ei
nt
henumbe
roffir
mst
ha
tpr
oduc
emus
i
cs
t
r
e
ami
ngapps
D)ade
c
r
e
as
ei
nt
hepr
i
c
eofani
nputus
e
dt
opr
oduc
emus
i
cs
t
r
e
ami
ngapps
Ans
we
r
:D
Di
ff:
3 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofI
nput
s
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
18)I
fafir
m hasani
nc
e
nt
i
vet
oi
nc
r
e
as
es
uppl
ynow andde
c
r
e
as
es
uppl
yi
nt
hef
ut
ur
e
,t
hefir
me
xpe
c
t
s
t
ha
tt
he
A)pr
i
c
eofi
t
spr
oduc
twi
l
lbel
owe
ri
nt
hef
ut
ur
et
hani
ti
st
oda
y
.
B)pr
i
c
eofi
t
spr
oduc
twi
l
lbehi
ghe
ri
nt
hef
ut
ur
et
hani
ti
st
oda
y
.
C)pr
i
c
eofi
nput
swi
l
lbel
owe
ri
nt
hef
ut
ur
et
hant
he
yar
et
oda
y
.
D)de
mandf
ort
hepr
oduc
twi
l
lbel
owe
ri
nt
hef
ut
ur
et
hani
ti
st
oda
y
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
72
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
36
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19)I
fafir
me
xpe
c
t
st
ha
tt
hepr
i
c
eofi
t
spr
oduc
twi
l
lbehi
ghe
ri
nt
hef
ut
ur
et
hani
ti
st
oda
y
,
A)t
hefir
m wi
l
lgooutofbus
i
ne
s
s
.
B)t
hefir
m hasani
nc
e
nt
i
vet
oi
nc
r
e
as
es
uppl
ynow andde
c
r
e
as
es
uppl
yi
nt
hef
ut
ur
e
.
C)t
hefir
m hasani
nc
e
nt
i
vet
ode
c
r
e
as
equant
i
t
ys
uppl
i
e
dnow andi
nc
r
e
as
equant
i
t
ys
uppl
i
e
di
nt
he
f
ut
ur
e
.
D)t
hefir
m hasani
nc
e
nt
i
vet
ode
c
r
e
as
es
uppl
ynow andi
nc
r
e
as
es
uppl
yi
nt
hef
ut
ur
e
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
72
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
20)Thes
uppl
yc
ur
vef
orwa
t
c
he
s
A)s
howst
hes
uppl
yofwa
t
c
he
sc
ons
ume
r
sar
ewi
l
l
i
ngandabl
et
obuya
tanygi
ve
npr
i
c
e
.
B)i
sdownwar
ds
l
opi
ng.
C)s
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hequant
i
t
yofwa
t
c
he
sfir
msar
ewi
l
l
i
ngandabl
et
os
uppl
yandt
he
quant
i
t
yofwa
t
c
he
sc
ons
ume
r
sar
ewi
l
l
i
ngandabl
et
opur
c
has
e
.
D)s
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofwa
t
c
he
sandt
hequant
i
t
yofwa
t
c
he
ss
uppl
i
e
d.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
7071
Topi
c
:Suppl
yCur
ve
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
21)Ade
c
r
e
as
ei
nt
hepr
i
c
eofGPSs
ys
t
e
mswi
l
lr
e
s
ul
ti
n
A)as
mal
l
e
rquant
i
t
yofGPSs
ys
t
e
mss
uppl
i
e
d.
B)al
ar
ge
rquant
i
t
yofGPSs
ys
t
e
mss
uppl
i
e
d.
C)ade
c
r
e
as
ei
nt
hede
mandf
orGPSs
ys
t
e
ms
.
D)ani
nc
r
e
as
ei
nt
hes
uppl
yofGPSs
ys
t
e
ms
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
72
Topi
c
:Quant
i
t
ySuppl
i
e
d
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
22)Ani
nc
r
e
as
ei
nt
henumbe
roffir
msi
namar
ke
twi
l
lc
aus
et
hequant
i
t
yofagoods
uppl
i
e
dt
o
i
nc
r
e
as
e
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
71
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
23)Ac
hangei
ns
uppl
yi
sr
e
pr
e
s
e
nt
e
dbyas
hi
f
toft
hes
uppl
yc
ur
ve
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
72
Topi
c
:Suppl
yCur
ve
s
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
37
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24)Ani
nc
r
e
as
ei
nt
hequant
i
t
yofapr
oduc
ts
uppl
i
e
di
sc
aus
e
dbyani
nc
r
e
as
ei
nt
hepr
i
c
eoft
he
pr
oduc
t
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
72
Topi
c
:Quant
i
t
ySuppl
i
e
d
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
25)Quant
i
t
ys
uppl
i
e
dr
e
f
e
r
st
ot
heamountofagoodors
e
r
vi
c
et
ha
tafir
mi
swi
l
l
i
ngandabl
et
os
uppl
y
a
tagi
ve
npr
i
c
e
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
69
Topi
c
:Quant
i
t
ySuppl
i
e
d
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
26)Wha
ti
st
hel
a
w ofs
uppl
y?Wha
tdoe
st
hi
sl
a
wi
mpl
yaboutt
hes
hapeoft
hes
uppl
yc
ur
ve
?
Ans
we
r
:Thel
a
w ofs
uppl
ys
t
a
t
e
st
ha
t
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
,ani
nc
r
e
as
ei
npr
i
c
ec
aus
e
san
i
nc
r
e
as
ei
nquant
i
t
ys
uppl
i
e
d.Thepos
i
t
i
ver
e
l
a
t
i
ons
hi
pbe
t
we
e
npr
i
c
eandquant
i
t
ys
uppl
i
e
dgi
ve
sr
i
s
e
t
oanupwar
ds
l
opi
ngs
uppl
yc
ur
ve
.
Di
ff:
1 Pa
geRe
f
:
70
Topi
c
:La
w ofSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
27)Fr
om as
uppl
ype
r
s
pe
c
t
i
ve
,wha
ti
mpac
twoul
dani
nc
r
e
as
ei
nt
hepr
i
c
eofmot
or
c
yc
l
e
sha
veont
he
mar
ke
tf
ormot
or
c
yc
l
e
s
?
Ans
we
r
:Ani
nc
r
e
as
ei
nt
hepr
i
c
eofmot
or
c
yc
l
e
swoul
dge
ne
r
a
t
eani
nc
r
e
as
ei
nt
hequant
i
t
yof
mot
or
c
yc
l
e
ss
uppl
i
e
di
nt
hemar
ke
t
.
Di
ff:
2 Pa
geRe
f
:
70
Topi
c
:Quant
i
t
ySuppl
i
e
d
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
28)I
ndi
c
a
t
ewhe
t
he
re
ac
hoft
hef
ol
l
owi
ngs
i
t
ua
t
i
onswoul
ds
hi
f
tt
hes
uppl
yc
ur
vet
ot
hel
e
f
t
,t
ot
he
r
i
ght
,ornota
tal
l
.
a
. Ani
nc
r
e
as
ei
nt
henumbe
roffir
msi
nt
hemar
ke
t
b. Ani
nc
r
e
as
ei
nt
hec
ur
r
e
ntpr
i
c
eoft
hepr
oduc
t
c
. Ade
c
r
e
as
ei
npr
oduc
t
i
vi
t
y
d. Ani
nc
r
e
as
ei
nt
hee
xpe
c
t
e
df
ut
ur
epr
i
c
eofapr
oduc
t
e
. Ade
c
r
e
as
ei
nt
hepr
i
c
eofani
nput
Ans
we
r
:
a
. Shi
f
tt
ot
her
i
ght
b. Nos
hi
f
t
c
. Shi
f
tt
ot
hel
e
f
t
d. Shi
f
tt
ot
hel
e
f
t
e
. Shi
f
tt
ot
her
i
ght
Di
ff:
2 Pa
geRe
f
:
7172
Topi
c
:Shi
f
t
si
nSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
l
s
29)As
uppl
yc
ur
ve
A)i
sat
abl
et
ha
ts
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
tandt
hequant
i
t
yoft
hepr
oduc
t
s
uppl
i
e
d.
B)i
sac
ur
vet
ha
ts
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
tandt
hequant
i
t
yoft
hepr
oduc
t
s
uppl
i
e
d.
38
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C)i
st
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hes
uppl
yofagoodandt
hec
os
tofpr
oduc
i
ngt
hegood.
D)i
sac
ur
vet
ha
ts
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofapr
oduc
tandt
hequant
i
t
yoft
hepr
oduc
t
t
ha
tpr
oduc
e
r
sandc
ons
ume
r
sar
ewi
l
l
i
ngt
oe
x
c
hange
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
69
Topi
c
:Suppl
yCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
30)I
f
,i
nt
hemar
ke
tf
orappl
e
s
,t
hes
uppl
yhasde
c
r
e
as
e
d,t
he
n
A)t
hes
uppl
yc
ur
vef
orappl
e
shass
hi
f
t
e
dt
ot
her
i
ght
.
B)t
he
r
ehasbe
e
namove
me
ntupwar
dsal
ongt
hes
uppl
yc
ur
vef
orappl
e
s
.
C)t
hes
uppl
yc
ur
vef
orappl
e
shass
hi
f
t
e
dt
ot
hel
e
f
t
.
D)t
he
r
ehasbe
e
namove
me
ntdownwar
dsal
ongt
hes
uppl
yc
ur
vef
orappl
e
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7071
Topi
c
:Suppl
yCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
31)I
f
,i
nt
hemar
ke
tf
orbananas
,t
hes
uppl
yc
ur
vehass
hi
f
t
e
dt
ot
her
i
ght
,t
he
n
A)t
hes
uppl
yofbananashasi
nc
r
e
as
e
d.
B)t
hequant
i
t
yofbananass
uppl
i
e
dhasi
nc
r
e
as
e
d.
C)t
hes
uppl
yofbananashasde
c
r
e
as
e
d.
D)t
hequant
i
t
yofbananass
uppl
i
e
dhasde
c
r
e
as
e
d.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
7071
Topi
c
:Suppl
yCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
39
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32)Las
tmont
h,t
heTe
c
ums
e
hCor
por
a
t
i
ons
uppl
i
e
d4
00uni
t
soft
hr
e
e
r
i
ngbi
nde
r
sa
t$6pe
runi
t
.Thi
s
mont
h,t
hec
ompanys
uppl
i
e
dt
hes
amequant
i
t
yofbi
nde
r
sa
t$4pe
runi
t
.Bas
e
dont
hi
se
vi
de
nc
e
,
Te
c
ums
e
hhase
xpe
r
i
e
nc
e
d
A)ade
c
r
e
as
ei
ns
uppl
y
.
B)ani
nc
r
e
as
ei
ns
uppl
y
.
C)ani
nc
r
e
as
ei
nt
hequant
i
t
ys
uppl
i
e
d.
D)ade
c
r
e
as
ei
nt
hequant
i
t
ys
uppl
i
e
d.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
7071
Topi
c
:Suppl
ySc
he
dul
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
33)________me
anst
hes
uppl
yc
ur
vehass
hi
f
t
e
dt
ot
her
i
ght
,whi
l
e________r
e
f
e
r
st
oamove
me
ntal
ong
agi
ve
ns
uppl
yc
ur
vei
nr
e
s
pons
et
oani
nc
r
e
as
ei
npr
i
c
e
.
A)Ani
nc
r
e
as
ei
ns
uppl
y;ade
c
r
e
as
ei
ns
uppl
y
B)Ade
c
r
e
as
ei
ns
uppl
y;ani
nc
r
e
as
ei
ns
uppl
y
C)Ani
nc
r
e
as
ei
ns
uppl
y;ani
nc
r
e
as
ei
nquant
i
t
ys
uppl
i
e
d
D)Ade
c
r
e
as
ei
ns
uppl
y;ade
c
r
e
as
ei
nquant
i
t
ys
uppl
i
e
d
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7071
Topi
c
:Suppl
yvs
.Quant
i
t
ySuppl
i
e
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
34)Onewoul
ds
pe
akofamove
me
ntal
ongas
uppl
yc
ur
vef
oragood,r
a
t
he
rt
hanac
hangei
ns
uppl
y
,i
f
A)t
hec
os
tofpr
oduc
i
ngt
hegoodc
hange
s
.
B)s
uppl
i
e
re
xpe
c
t
a
t
i
onsaboutf
ut
ur
epr
i
c
e
sc
hange
.
C)t
hepr
i
c
eoft
hegoodc
hange
s
.
D)pr
i
c
e
sofs
ubs
t
i
t
ut
e
si
npr
oduc
t
i
onc
hange
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7071
Topi
c
:Quant
i
t
ySuppl
i
e
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
35)Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
eani
nc
r
e
as
ei
nt
hes
uppl
yofc
he
e
s
e
?
A)ade
c
r
e
as
ei
nt
hepr
i
c
eofwi
ne(
as
s
umi
ngt
ha
tc
he
e
s
eandwi
near
ec
ompl
e
me
nt
s
)
B)ani
nc
r
e
as
ei
nt
hepr
i
c
eofc
he
e
s
e
C)ani
nc
r
e
as
ei
nt
hepr
i
c
eofapr
oduc
tt
ha
tpr
oduc
e
r
ss
e
l
li
ns
t
e
adofc
he
e
s
e
D)ani
nc
r
e
as
ei
nt
henumbe
roffir
mst
ha
tpr
oduc
ec
he
e
s
e
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
7172
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
36)I
fgua
r
ana(
ake
yi
ngr
e
di
e
nti
nmanye
ne
r
gydr
i
nks
)be
c
ome
sl
e
s
se
xpe
ns
i
ve
,wewoul
de
xpe
c
t
A)t
hes
uppl
yc
ur
vef
ore
ne
r
gydr
i
nkst
os
hi
f
tt
ot
her
i
ght
.
B)t
hes
uppl
yc
ur
vef
ore
ne
r
gydr
i
nkst
os
hi
f
tt
ot
hel
e
f
t
.
C)t
hede
mandc
ur
vef
ore
ne
r
gydr
i
nkst
os
hi
f
tt
ot
her
i
ght
.
D)t
hede
mandc
ur
vef
ore
ne
r
gydr
i
nkst
os
hi
f
tt
ot
hel
e
f
t
.
Ans
we
r
:A
40
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Di
ff:
2 Pa
geRe
f
:
7172
Topi
c
:Pr
i
c
e
sofI
nput
s
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Re
fle
c
t
i
veThi
nki
ng
37)I
nJ
ul
y
,mar
ke
tanal
ys
t
spr
e
di
c
tt
ha
tt
hepr
i
c
eofgol
dwi
l
lr
i
s
ei
nAugus
t
.Wha
thappe
nsi
nt
hegol
d
mar
ke
ti
nJ
ul
y
,hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
?
A)Thes
uppl
yc
ur
ves
hi
f
t
st
ot
her
i
ght
.
B)Thes
uppl
yc
ur
ves
hi
f
t
st
ot
hel
e
f
t
.
C)Thequant
i
t
yde
mande
dandt
hequant
i
t
ys
uppl
i
e
dofgol
di
nc
r
e
as
e
.
D)Thede
mandc
ur
ves
hi
f
t
st
ot
hel
e
f
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
72
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
41
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Fi
gur
e3.
4
38)Re
f
e
rt
oFi
g
ur
e3.
4.At
e
c
hnol
ogi
c
aladvanc
e
me
ntwoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Te
c
hnol
ogi
c
alChange
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
39)Re
f
e
rt
oFi
g
ur
e3.
4.Ani
nc
r
e
as
ei
nt
hee
xpe
c
t
e
df
ut
ur
epr
i
c
eoft
hepr
oduc
twoul
dber
e
pr
e
s
e
nt
e
dby
amove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
72
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
42
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40)Re
f
e
rt
oFi
g
ur
e3.
4.Ade
c
r
e
as
ei
nt
hepr
i
c
eofi
nput
swoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
ntf
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofI
nput
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
41)Re
f
e
rt
oFi
g
ur
e3.
4.Ani
nc
r
e
as
ei
nt
hepr
i
c
eoft
hepr
oduc
twoul
dber
e
pr
e
s
e
nt
e
dbyamove
me
nt
f
r
om
A)At
oB.
B)Bt
oA.
C)S1t
oS2.
D)S2t
oS1.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
70
Topi
c
:Quant
i
t
ySuppl
i
e
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
42)I
fCanadar
e
move
dt
headdi
t
i
onalt
ax
e
si
tc
ur
r
e
nt
l
yc
har
ge
sonFr
e
nc
hc
he
e
s
e
,wha
twoul
dhappe
ni
n
t
heCanadi
anmar
ke
tf
orFr
e
nc
hc
he
e
s
e
?
A)Thes
uppl
yc
ur
vewoul
ds
hi
f
tt
ot
hel
e
f
t
.
B)Thes
uppl
yc
ur
vewoul
ds
hi
f
tt
ot
her
i
ght
.
C)Thede
mandc
ur
vewoul
ds
hi
f
tt
ot
her
i
ght
.
D)Thede
mandc
ur
vewoul
ds
hi
f
tt
ot
hel
e
f
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
7172
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
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43
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43)Ge
or
geGna
ts
ubs
c
r
i
be
st
oamont
hl
ype
s
tc
ont
r
ols
e
r
vi
c
ef
orhi
shome
.Las
twe
e
kt
heowne
roft
he
s
e
r
vi
c
ei
nf
or
me
dGe
or
get
ha
thewi
l
lha
vet
or
ai
s
ehi
smont
hl
ys
e
r
vi
c
ef
e
ebe
c
aus
eofi
nc
r
e
as
e
si
nt
he
pr
i
c
eofgas
ol
i
neus
e
dbyhi
swor
ke
r
sont
he
i
rs
e
r
vi
c
et
r
i
ps
.How i
st
hemar
ke
tf
orpe
s
tc
ont
r
ols
e
r
vi
c
e
s
affe
c
t
e
dbyt
hi
s
?
A)The
r
ei
sani
nc
r
e
as
ei
nt
hes
uppl
yofpe
s
tc
ont
r
ols
e
r
vi
c
e
s
.
B)The
r
ei
sade
c
r
e
as
ei
nt
hede
mandf
orpe
s
tc
ont
r
ols
e
r
vi
c
e
s
.
C)The
r
ei
sade
c
r
e
as
ei
nt
hequant
i
t
ys
uppl
i
e
dofpe
s
tc
ont
r
ols
e
r
vi
c
e
s
.
D)The
r
ei
sade
c
r
e
as
ei
nt
hes
uppl
yofpe
s
tc
ont
r
ols
e
r
vi
c
e
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofI
nput
s
2CE:1
CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
44)Thegr
owi
ngpopul
ar
i
t
yofe
ne
r
gyc
ons
e
r
va
t
i
onhase
nt
i
c
e
dl
ar
gehomei
mpr
ove
me
nts
t
or
e
sl
i
ke
Ronat
ooffe
rt
ankl
e
s
swa
t
e
rhe
a
t
e
r
s
.How doe
st
hef
ac
tt
ha
thomei
mpr
ove
me
nts
t
or
e
snow offe
rt
he
s
e
pr
oduc
t
saffe
c
tt
het
ankl
e
s
swa
t
e
rhe
a
t
e
rmar
ke
t
?
A)Thede
mandc
ur
vef
ort
ankl
e
s
swa
t
e
rhe
a
t
e
r
ss
hi
f
t
st
ot
her
i
ght
.
B)Thede
mandc
ur
vef
ort
ankl
e
s
swa
t
e
rhe
a
t
e
r
ss
hi
f
t
st
ot
hel
e
f
t
.
C)Thes
uppl
yc
ur
vef
ort
ankl
e
s
swa
t
e
rhe
a
t
e
r
ss
hi
f
t
st
ot
her
i
ght
.
D)Thes
uppl
yc
ur
vef
ort
ankl
e
s
swa
t
e
rhe
a
t
e
r
ss
hi
f
t
st
ot
hel
e
f
t
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
7172
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
45)Far
me
r
sc
anpl
ante
i
t
he
rwhe
a
torl
e
nt
i
l
si
nt
he
i
rfie
l
ds
.Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
et
he
s
uppl
yofl
e
nt
i
l
st
oi
nc
r
e
as
e
?
A)ani
nc
r
e
as
ei
nt
hepr
i
c
eofl
e
nt
i
l
s
B)ade
c
r
e
as
ei
nt
hepr
i
c
eofwhe
a
t
C)ani
nc
r
e
as
ei
nt
hede
mandf
orwhe
a
t
D)ani
nc
r
e
as
ei
nt
hepr
i
c
eofs
oybe
ans
e
e
ds
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofSubs
t
i
t
ut
e
si
nPr
oduc
t
i
on
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
44
Copyright © 2018 Pearson Canada, Inc.
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46)Whi
c
hoft
hef
ol
l
owi
ngwoul
ds
hi
f
tt
hes
uppl
yc
ur
vef
ore
ne
r
gydr
i
nkst
ot
hel
e
f
t
?
A)ade
c
r
e
as
ei
nt
hee
xpe
c
t
e
df
ut
ur
epr
i
c
eofe
ne
r
gydr
i
nks
B)ani
nc
r
e
as
ei
nc
ons
ume
ri
nc
ome(
as
s
umi
ngt
ha
te
ne
r
gydr
i
nksar
enor
malgoods
)
C)ade
c
r
e
as
ei
nt
henumbe
roffir
mst
ha
tpr
oduc
ee
ne
r
gydr
i
nks
D)ade
c
r
e
as
ei
nt
hepr
i
c
eofani
nputus
e
dt
opr
oduc
ee
ne
r
gydr
i
nks
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
7172
Topi
c
:Numbe
rofFi
r
msi
nt
heMa
r
ke
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
47)I
tbe
c
ome
sc
ommonknowl
e
dget
ha
tpl
ant
i
ngmus
t
a
r
dhe
l
pspr
ot
e
c
tpot
a
t
oc
r
opsf
r
om nume
r
ous
di
s
e
as
e
s
.Asar
e
s
ul
twewoul
de
xpe
c
t
A)ani
nc
r
e
as
ei
nt
hes
uppl
yofmus
t
ar
d.
B)ade
c
r
e
as
ei
nt
hes
uppl
yofpot
a
t
oe
s
.
C)ade
c
r
e
as
ei
nt
hes
uppl
yofmus
t
ar
d.
D)de
mandf
ormus
t
ar
dt
oi
nc
r
e
as
e
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
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7172
Topi
c
:Pr
i
c
e
sofSubs
t
i
t
ut
e
si
nPr
oduc
t
i
on
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
2Di
s
c
us
st
hevar
i
abl
e
st
ha
ti
nflue
nc
es
uppl
y
AACSB:Anal
yt
i
cSki
l
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48)I
fafir
me
xpe
c
t
st
ha
tt
hepr
i
c
eofi
t
spr
oduc
twi
l
lbel
owe
ri
nt
hef
ut
ur
et
hani
ti
st
oda
y
,
A)t
hefir
m hasani
nc
e
nt
i
vet
oi
nc
r
e
as
es
uppl
ynow andde
c
r
e
as
es
uppl
yi
nt
hef
ut
ur
e
.
B)t
hefir
m hasani
nc
e
nt
i
vet
ode
c
r
e
as
es
uppl
ynow andi
nc
r
e
as
es
uppl
yi
nt
hef
ut
ur
e
.
C)t
hefir
m hasani
nc
e
nt
i
vet
oi
nc
r
e
as
equant
i
t
ys
uppl
i
e
dnow andde
c
r
e
as
equant
i
t
ys
uppl
i
e
di
nt
he
f
ut
ur
e
.
D)t
hefir
m wi
l
lnotc
hanges
uppl
yunt
i
li
tknowsf
orc
e
r
t
ai
nwha
twi
l
lhappe
nt
oi
t
spr
i
c
e
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
71
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
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ome
:Mi
c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
49)Afir
m hasani
nc
e
nt
i
vet
ode
c
r
e
as
es
uppl
ynow a
ndi
nc
r
e
as
es
uppl
yi
nt
hef
ut
ur
ei
fi
te
xpe
c
t
st
ha
t
A)mor
efir
mswi
l
le
nt
e
rt
hemar
ke
ti
nt
hef
ut
ur
e
.
B)t
hepr
i
c
e
sofi
nput
sus
e
dt
opr
oduc
ei
t
spr
oduc
twi
l
lr
i
s
ei
nt
hef
ut
ur
e
.
C)t
hepr
i
c
eofi
t
spr
oduc
twi
l
lbel
owe
ri
nt
hef
ut
ur
et
hani
ti
st
oda
y
.
D)t
hepr
i
c
eofi
t
spr
oduc
twi
l
lbehi
ghe
ri
nt
hef
ut
ur
et
hani
ti
st
oda
y
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Expe
c
t
e
dFut
ur
ePr
i
c
e
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
45
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50)Thes
uppl
yc
ur
vef
orumbr
e
l
l
as
A)s
howst
hes
uppl
yofumbr
e
l
l
asc
ons
ume
r
sar
ewi
l
l
i
ngandabl
et
obuya
tanygi
ve
npr
i
c
e
.
B)i
sdownwar
ds
l
opi
ng.
C)s
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hequant
i
t
yofumbr
e
l
l
asfir
msar
ewi
l
l
i
ngandabl
et
os
uppl
yand
t
hequant
i
t
yofumbr
e
l
l
asc
ons
ume
r
sar
ewi
l
l
i
ngandabl
et
opur
c
has
e
.
D)s
howst
her
e
l
a
t
i
ons
hi
pbe
t
we
e
nt
hepr
i
c
eofumbr
e
l
l
asandt
hequant
i
t
yofumbr
e
l
l
ass
uppl
i
e
d.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
69
Topi
c
:Suppl
yCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
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ome
:Mi
c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
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AACSB:Re
fle
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t
i
veThi
nki
ng
51)Ani
nc
r
e
as
ei
nt
hepr
i
c
eofmus
i
cs
t
r
e
ami
ngs
e
r
vi
c
e
swi
l
lr
e
s
ul
ti
n
A)as
mal
l
e
rquant
i
t
yofmus
i
cs
t
r
e
ami
ngs
e
r
vi
c
e
ss
uppl
i
e
d.
B)al
ar
ge
rquant
i
t
yofmus
i
cs
t
r
e
ami
ngs
e
r
vi
c
e
ss
uppl
i
e
d.
C)ade
c
r
e
as
ei
nt
hede
mandf
ormus
i
cs
t
r
e
ami
ngs
e
r
vi
c
e
s
.
D)ani
nc
r
e
as
ei
nt
hes
uppl
yofmus
i
cs
t
r
e
ami
ngs
e
r
vi
c
e
s
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
6970
Topi
c
:Quant
i
t
ySuppl
i
e
d
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
52)Apos
i
t
i
vet
e
c
hnol
ogi
c
alc
hangewi
l
lc
aus
et
hequant
i
t
ys
uppl
i
e
dofagoodt
oi
nc
r
e
as
e
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
71
Topi
c
:Te
c
hnol
ogi
c
alChange
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
53)Ani
nc
r
e
as
ei
nquant
i
t
ys
uppl
i
e
di
sr
e
pr
e
s
e
nt
e
dbyar
i
ght
war
ds
hi
f
toft
hes
uppl
yc
ur
ve
.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
7273
Topi
c
:Quant
i
t
ySuppl
i
e
d
2CE:1
CE
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ar
ni
ngOut
c
ome
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c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
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54)Ade
c
r
e
as
ei
nt
hepr
i
c
eofi
nput
swi
l
lc
aus
et
hes
uppl
yc
ur
vef
orapr
oduc
tt
os
hi
f
tt
ot
her
i
ght
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
71
Topi
c
:Pr
i
c
e
sofI
nput
s
2CE:1
CE
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ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
46
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55)Whe
nal
le
l
s
ee
qual
,ast
hepr
i
c
eofapr
oduc
tf
al
l
s
,t
hequant
i
t
ys
uppl
i
e
dde
c
r
e
as
e
s
.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
6970
Topi
c
:La
w ofSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
56)Wha
tar
et
hefivemos
ti
mpor
t
antvar
i
abl
e
st
ha
ts
hi
f
tt
hemar
ke
ts
uppl
yc
ur
ve
?
Ans
we
r
:Pr
i
c
e
sofi
nput
s
;t
e
c
hnol
ogi
c
alc
hange
;pr
i
c
e
sofs
ubs
t
i
t
ut
e
si
npr
oduc
t
i
on;t
henumbe
roffir
ms
i
nt
hemar
ke
t
;e
xpe
c
t
e
df
ut
ur
epr
i
c
e
s
Di
ff:
1 Pa
geRe
f
:
71
Topi
c
:Suppl
yCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
57)Woul
dac
hangei
nt
hepr
i
c
eofi
nl
i
nes
ka
t
e
sc
aus
eac
hangei
nt
hes
uppl
yofi
nl
i
nes
ka
t
e
s
?Whyor
whynot
?
Ans
we
r
:No,ac
hangei
nt
hepr
i
c
eofi
nl
i
nes
ka
t
e
swoul
dnotc
aus
eac
hangei
nt
hes
uppl
yofi
nl
i
ne
s
ka
t
e
s
.Ra
t
he
r
,i
twoul
dc
aus
ec
hangei
nquant
i
t
ys
uppl
i
e
d.Suppl
yc
hange
sonl
ywhe
nt
he
r
ei
sac
hange
i
nanyvar
i
abl
eot
he
rt
hanpr
i
c
et
ha
twoul
da
ffe
c
tt
hes
uppl
yoft
hegoodi
nque
s
t
i
on.
Di
ff:
2 Pa
geRe
f
:
7273
Topi
c
:Quant
i
t
ySuppl
i
e
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
58)I
ndi
c
a
t
ewhe
t
he
re
ac
hoft
hef
ol
l
owi
ngs
i
t
ua
t
i
onswoul
ds
hi
f
tt
hes
uppl
yc
ur
vet
ot
hel
e
f
t
,t
ot
he
r
i
ght
,ornota
tal
l
.
a
. ani
nc
r
e
as
ei
nt
hepr
i
c
eofani
nput
b. ani
nc
r
e
as
ei
npr
oduc
t
i
vi
t
y
c
. ani
nc
r
e
as
ei
nt
hepr
i
c
eofas
ubs
t
i
t
ut
ei
npr
oduc
t
i
on
d. ade
c
r
e
as
ei
nt
hee
xpe
c
t
e
df
ut
ur
epr
i
c
eofapr
oduc
t
e
. ade
c
r
e
as
ei
nt
hec
ur
r
e
ntpr
i
c
eoft
hepr
oduc
t
Ans
we
r
:
a
.s
hi
f
tt
ot
hel
e
f
t
b. s
hi
f
tt
ot
her
i
ght
c
.s
hi
f
tt
ot
hel
e
f
t
d. s
hi
f
tt
ot
her
i
ght
e
. nos
hi
f
t
Di
ff:
2 Pa
geRe
f
:
71
Topi
c
:Suppl
yCur
ve
s
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
47
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3.3 Use a graph to illustrate market equilibrium
1)Whi
c
hoft
hef
ol
l
owi
ngi
st
hec
or
r
e
c
twa
yt
ode
s
c
r
i
bee
qui
l
i
br
i
um i
namar
ke
t
?
A)Ate
qui
l
i
br
i
um,de
mande
qual
ss
uppl
y
.
B)Ate
qui
l
i
br
i
um,quant
i
t
yde
mande
de
qual
squant
i
t
ys
uppl
i
e
d.
C)Ate
qui
l
i
br
i
um,mar
ke
tf
or
c
e
snol
onge
rappl
y
.
D)Ate
qui
l
i
br
i
um,s
c
ar
c
i
t
yi
se
l
i
mi
na
t
e
d.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
2)Atapr
oduc
t
'
se
qui
l
i
br
i
um pr
i
c
e
,
A)t
hepr
oduc
t
'
sde
mandc
ur
vei
st
hes
ameast
hepr
oduc
t
'
ss
uppl
yc
ur
ve
.
B)t
hequant
i
t
yoft
hepr
oduc
tde
mande
di
sgr
e
a
t
e
rt
hant
hequant
i
t
yoft
hepr
oduc
ts
uppl
i
e
d.
C)t
hequant
i
t
yoft
hepr
oduc
tde
mande
di
sl
e
s
st
ha
nt
hequant
i
t
yoft
hepr
oduc
ts
uppl
i
e
d.
D)t
hepr
oduc
t
'
sde
mandc
ur
vec
r
os
s
e
st
hepr
oduc
t
'
ss
uppl
yc
ur
ve
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
48
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Fi
gur
e3.
5
3)Re
f
e
rt
oFi
g
ur
e3.
5.Thefigur
eaboves
howst
hes
uppl
yandde
mandc
ur
ve
sf
ort
womar
ke
t
s
:t
he
mar
ke
tf
oror
i
gi
nalPi
c
as
s
opai
nt
i
ngsandt
hemar
ke
tf
orde
s
i
gne
rj
e
ans
.Whi
c
hgr
aphmos
tl
i
ke
l
y
r
e
pr
e
s
e
nt
swhi
c
hmar
ke
t
?
A)Gr
aphBr
e
pr
e
s
e
nt
st
hemar
ke
tf
oror
i
gi
nalPi
c
as
s
opai
nt
i
ngsandGr
aphAr
e
pr
e
s
e
nt
st
hemar
ke
tf
or
de
s
i
gne
rj
e
ans
.
B)Gr
aphAr
e
pr
e
s
e
nt
st
hemar
ke
tf
oror
i
gi
nalPi
c
as
s
opai
nt
i
ngsandGr
aphBr
e
pr
e
s
e
nt
st
hemar
ke
tf
or
de
s
i
gne
rj
e
ans
.
C)Gr
aphAr
e
pr
e
s
e
nt
sbot
ht
hemar
ke
tf
oror
i
gi
nalPi
c
as
s
opai
nt
i
ngsandde
s
i
gne
rj
e
ans
.
D)Gr
aphBr
e
pr
e
s
e
nt
sbot
ht
hemar
ke
tf
oror
i
gi
nalPi
c
as
s
opai
nt
i
ngsandde
s
i
gne
rj
e
ans
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
4)I
n2016,f
or
e
s
tfir
e
sf
or
c
e
dt
hee
vac
ua
t
i
onofFor
tMc
Mur
r
a
y
.Manyoft
hos
ee
vac
ua
t
e
dwe
ntt
o
Edmont
on.Asar
e
s
ul
toft
hee
vac
ua
t
i
on,wha
twoul
dwee
xpe
c
tt
os
e
ei
nt
hemar
ke
tf
orhot
e
lr
oomsi
n
Edmont
ona
tt
heor
i
gi
nale
qui
l
i
br
i
um pr
i
c
e
?
A)as
ur
pl
usofhot
e
lr
ooms
B)t
hequant
i
t
yde
mande
de
qualt
ot
hequant
i
t
ys
uppl
i
e
d
C)as
hor
t
a
geofhot
e
lr
ooms
D)ani
nc
r
e
as
ei
nt
hes
uppl
yofhot
e
lr
ooms
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
49
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Fi
gur
e3.
6
5)Re
f
e
rt
oFi
g
ur
e3.
6.I
ft
hepr
i
c
ei
s$10,
A)t
he
r
ewoul
dbeas
ur
pl
usof600uni
t
s
.
B)t
he
r
ewoul
dbeas
hor
t
a
geof600uni
t
s
.
C)t
he
r
ewoul
dbeas
ur
pl
usof200uni
t
s
.
D)t
he
r
ewoul
dbeas
hor
t
a
geof200uni
t
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
7.
4
Topi
c
:Shor
t
a
ge
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
6)Re
f
e
rt
oFi
g
ur
e3.
6.Atapr
i
c
eof$10,how manyuni
t
swi
l
lbes
ol
d?
A)200
B)400
C)600
D)800
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
7)Re
f
e
rt
oFi
g
ur
e3.
6.I
ft
hec
ur
r
e
ntmar
ke
tpr
i
c
ei
s$10,t
hemar
ke
twi
l
lac
hi
e
vee
qui
l
i
br
i
um by
A)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hes
uppl
yandde
c
r
e
as
i
ngt
hede
mand.
B)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hes
uppl
yandi
nc
r
e
as
i
ngt
hede
mand.
C)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandi
nc
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
D)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandde
c
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
50
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Fi
gur
e3.
7
8)Re
f
e
rt
oFi
g
ur
e3.
7.Atapr
i
c
eof$15,
A)t
he
r
ewoul
dbeas
ur
pl
usof4uni
t
s
.
B)t
he
r
ewoul
dbeas
hor
t
a
geof2uni
t
s
.
C)t
he
r
ewoul
dbeas
ur
pl
usof6uni
t
s
.
D)t
he
r
ewoul
dbeas
hor
t
a
geof4uni
t
s
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
9)Re
f
e
rt
oFi
g
ur
e3.
7.Atapr
i
c
eof$5,t
hequant
i
t
ys
ol
d
A)i
s2uni
t
s
.
B)i
s4uni
t
s
.
C)i
s6uni
t
s
.
D)c
annotbede
t
e
r
mi
ne
d.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
10)Re
f
e
rt
oFi
g
ur
e3.
7.I
naf
r
e
emar
ke
ts
uc
hast
ha
tde
pi
c
t
e
dabove
,as
ur
pl
usi
se
l
i
mi
na
t
e
dby
A)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hes
uppl
yandde
c
r
e
as
i
ngt
hede
mand.
B)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hes
uppl
yandi
nc
r
e
as
i
ngt
hede
mand.
C)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandi
nc
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
D)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandde
c
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
11)As
s
umet
he
r
ei
sas
hor
t
a
gei
nt
hemar
ke
tf
ors
mar
tphone
s
.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
s
c
or
r
e
c
t
l
yde
s
c
r
i
be
st
hi
ss
i
t
ua
t
i
on?
A)Thede
mandf
ors
mar
tphone
si
sl
e
s
st
hant
hes
uppl
yofs
mar
tphone
s
.
51
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B)Somec
ons
ume
r
swi
l
lbeunabl
et
oobt
ai
ns
mar
tphone
sa
tt
hemar
ke
tpr
i
c
eandwi
l
lha
veani
nc
e
nt
i
ve
t
ooffe
rt
obuyt
hepr
oduc
ta
tahi
ghe
rpr
i
c
e
.
C)Thepr
i
c
eofs
mar
tphone
swi
l
lr
i
s
ei
nr
e
s
pons
et
ot
hes
hor
t
a
ge
;ast
hepr
i
c
er
i
s
e
st
hequant
i
t
y
de
mande
dwi
l
li
nc
r
e
as
eandt
hequant
i
t
ys
uppl
i
e
dwi
l
lde
c
r
e
as
e
.
D)Thes
hor
t
a
gewi
l
lc
aus
eande
c
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
eofs
mar
tphone
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
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l
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um
AACSB:Anal
yt
i
cSki
l
l
s
12)I
nape
r
f
e
c
t
l
yc
ompe
t
i
t
i
vemar
ke
t
,t
he
r
ear
e________buye
r
sand________s
e
l
l
e
r
s
.
A)many;f
e
w
B)f
e
w;many
C)many;many
D)f
e
w;f
e
w
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Pe
r
f
e
c
t
l
yCompe
t
i
t
i
veMar
ke
t
Le
ar
ni
ngOut
c
ome
:3
.
3Us
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apht
oi
l
l
us
t
r
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l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
52
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Fi
gur
e3.
8
13)Re
f
e
rt
oFi
g
ur
e3.
8.Thefigur
eabover
e
pr
e
s
e
nt
st
hemar
ke
tf
orc
anvast
ot
eba
gs
.As
s
umet
ha
tt
he
mar
ke
tpr
i
c
ei
s$35.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)The
r
ei
sas
ur
pl
ust
ha
twi
l
lc
aus
et
hepr
i
c
et
ode
c
r
e
as
e
;quant
i
t
yde
mande
dwi
l
lt
he
ni
nc
r
e
as
eand
quant
i
t
ys
uppl
i
e
dwi
l
lde
c
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
B)The
r
ei
sas
ur
pl
ust
ha
twi
l
lc
aus
et
hepr
i
c
et
ode
c
r
e
as
e
;quant
i
t
ys
uppl
i
e
dwi
l
lt
he
ni
nc
r
e
as
eand
quant
i
t
yde
mande
dwi
l
lde
c
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
C)The
r
ewi
l
lbeas
ur
pl
ust
ha
twi
l
lc
aus
et
hepr
i
c
et
ode
c
r
e
as
e
;de
mandwi
l
lt
he
ni
nc
r
e
as
eands
uppl
y
wi
l
lde
c
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
D)The
r
ei
sas
ur
pl
ust
ha
twi
l
lc
aus
et
hepr
i
c
et
oi
nc
r
e
as
e
;quant
i
t
yde
mande
dwi
l
lt
he
nde
c
r
e
as
eand
quant
i
t
ys
uppl
i
e
dwi
l
li
nc
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
14)Re
f
e
rt
oFi
g
ur
e3.
8.Thefigur
eabover
e
pr
e
s
e
nt
st
hemar
ke
tf
orc
anvast
ot
eba
gs
.As
s
umet
ha
tt
he
pr
i
c
eoft
ot
eba
gsi
s$15.Att
hi
spr
i
c
e
,
A)t
hequant
i
t
yde
mande
de
x
c
e
e
dst
hequant
i
t
ys
uppl
i
e
doft
ot
eba
gsby75.Thepr
i
c
ewi
l
le
ve
nt
ual
l
y
r
i
s
et
o$25whe
r
equant
i
t
yde
mande
dwi
l
le
qualquant
i
t
ys
uppl
i
e
d.
B)t
hede
mande
x
c
e
e
dst
hes
uppl
yoft
ot
eba
gsby55
.Somec
ons
ume
r
swi
l
lha
veani
nc
e
nt
i
vet
ooffe
rt
o
buyt
ot
eba
gsa
tahi
ghe
rpr
i
c
e
.
C)t
he
r
ei
sas
hor
t
a
ge
,e
qualt
o55t
ot
eba
gs
,t
ha
twi
l
lbee
l
i
mi
na
t
e
dwhe
nt
hepr
i
c
er
i
s
e
st
o$25.
D)t
he
r
ei
sas
hor
t
a
gee
qualt
o55t
ot
eba
gs
;t
hepr
i
c
eoft
ot
eba
gswi
l
lr
i
s
eunt
i
lde
mandi
se
qualt
o
s
uppl
y
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
53
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15)Re
f
e
rt
oFi
g
ur
e3.
8.Thefigur
eabover
e
pr
e
s
e
nt
st
hemar
ke
tf
orc
anvast
ot
eba
gs
.As
s
umet
ha
tt
he
pr
i
c
eoft
ot
eba
gsi
s$15.Att
hi
spr
i
c
e
,
A)t
hequant
i
t
yde
mande
de
x
c
e
e
dst
hequant
i
t
ys
uppl
i
e
doft
ot
eba
gsby75.Thepr
i
c
ewi
l
le
ve
nt
ual
l
y
r
i
s
et
o$25whe
r
equant
i
t
yde
mande
dwi
l
le
qualquant
i
t
ys
uppl
i
e
d.
B)t
hede
mande
x
c
e
e
dst
hes
uppl
yoft
ot
eba
gsby55
.Somec
ons
ume
r
swi
l
lha
veani
nc
e
nt
i
vet
ooffe
rt
o
buyt
ot
eba
gsa
tahi
ghe
rpr
i
c
e
.
C)t
he
r
ei
sas
hor
t
a
gee
qualt
o55t
ot
eba
gs
;t
hepr
i
c
eoft
ot
eba
gswi
l
lr
i
s
eunt
i
lde
mandi
se
qualt
o
s
uppl
y
.
D)t
he
r
ei
sas
hor
t
a
ge
,e
qualt
o55t
ot
eba
gs
,t
ha
twi
l
lbee
l
i
mi
na
t
e
dwhe
nt
hepr
i
c
er
i
s
e
st
o$25.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
16)Re
f
e
rt
oFi
g
ur
e3.
8.Thefigur
eabover
e
pr
e
s
e
nt
st
hemar
ke
tf
orc
anvast
ot
eba
gs
.Compar
et
he
c
ondi
t
i
onsi
nt
hemar
ke
twhe
nt
hepr
i
c
ei
s$50andwhe
nt
hepr
i
c
ei
s$35.Whi
c
hoft
hef
ol
l
owi
ng
de
s
c
r
i
be
show t
hemar
ke
tdi
ffe
r
sa
tt
he
s
epr
i
c
e
s
?
A)Ate
ac
hpr
i
c
et
he
r
ei
sas
ur
pl
us
;t
hes
ur
pl
usi
sgr
e
a
t
e
ra
t$35t
hana
t$50.
B)Thedi
ffe
r
e
nc
ebe
t
we
e
nquant
i
t
ys
uppl
i
e
dandquant
i
t
yde
mande
di
sgr
e
a
t
e
ra
t$50t
hana
t$35.
C)Ate
ac
hpr
i
c
et
he
r
ei
sas
ur
pl
us
;fir
mswi
l
ll
owe
rt
hee
qui
l
i
br
i
um pr
i
c
ei
nor
de
rt
oe
l
i
mi
na
t
et
he
s
ur
pl
us
.
D)Ate
ac
hpr
i
c
et
hes
uppl
yoft
ot
eba
gse
x
c
e
e
dst
ha
tde
mandf
ort
ot
eba
gs
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
17)I
f
,f
orapr
oduc
t
,t
hequant
i
t
ys
uppl
i
e
de
x
c
e
e
dst
hequant
i
t
yde
mande
d,t
hemar
ke
tpr
i
c
ewi
l
lf
al
l
unt
i
l
A)t
hequant
i
t
yde
mande
de
x
c
e
e
dst
hequant
i
t
ys
uppl
i
e
d.Themar
ke
twi
l
lt
he
nbei
ne
qui
l
i
br
i
um.
B)quant
i
t
yde
mande
de
qual
squant
i
t
ys
uppl
i
e
d.Thee
qui
l
i
br
i
um pr
i
c
ewi
l
lt
he
nbel
owe
rt
hant
he
mar
ke
tpr
i
c
e
.
C)al
lc
ons
ume
r
swi
l
lbeabl
et
oa
ffor
dt
hepr
oduc
t
.
D)quant
i
t
yde
mande
de
qual
squant
i
t
ys
uppl
i
e
d.Themar
ke
tpr
i
c
ewi
l
lt
he
ne
qualt
hee
qui
l
i
br
i
um pr
i
c
e
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
54
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18)Whi
c
hoft
hef
ol
l
owi
ngi
se
vi
de
nc
eofas
ur
pl
usofbananas
?
A)Fi
r
msr
ai
s
et
hepr
i
c
eofbananas
.
B)Thepr
i
c
eofbananasi
sl
owe
r
e
di
nor
de
rt
oi
nc
r
e
as
es
al
e
s
.
C)Thee
qui
l
i
br
i
um pr
i
c
eofbananasr
i
s
e
sduet
oani
nc
r
e
as
ei
nde
mand.
D)Thequant
i
t
yde
mande
dofbananasi
sgr
e
a
t
e
rt
hant
hequant
i
t
ys
uppl
i
e
d.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
19)Atauc
t
i
one
xpe
r
t
se
xpe
c
taJ
ac
que
sPl
ant
ehoc
ke
yc
ar
dt
oge
tahi
ghe
rpr
i
c
et
hanSi
dne
yCr
os
by'
s
r
ooki
ec
ar
d.Whi
c
hoft
hef
ol
l
owi
nge
ve
nt
swoul
dc
aus
et
hepr
i
c
edi
ffe
r
e
nc
ei
nt
he
s
ec
ar
dst
oge
ts
mal
l
e
r
?
A)Thede
mandf
orCr
os
byc
ar
dsde
c
r
e
as
e
s
.
B)Thes
uppl
yofCr
os
byr
ooki
ec
ar
dsi
nc
r
e
as
e
s
.
C)Thede
mandf
orCr
os
byr
ooki
ec
ar
dsi
nc
r
e
as
e
sandt
hes
uppl
yofPl
ant
ec
ar
dsi
nc
r
e
as
e
s
.
D)Thede
mandf
orCr
os
byr
ooki
ec
ar
dsde
c
r
e
as
e
sandt
hede
mandf
orPl
ant
ec
ar
dsi
nc
r
e
as
e
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7576
Topi
c
:La
w ofDe
mand
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:De
mandandSuppl
yBot
hCount
:
A Tal
eofTwoHoc
ke
yCar
ds
20)Auc
t
i
onsi
nr
e
c
e
ntye
ar
sha
ver
e
s
ul
t
e
di
nhi
ghe
rpr
i
c
e
spai
df
orJ
ac
que
sPl
ant
e(
goal
i
e
)hoc
ke
yc
a
r
ds
t
hanSi
dne
yCr
os
by(
f
or
war
d)r
ooki
ec
ar
ds
.Wha
ti
sar
e
as
onf
ort
hi
sdi
ffe
r
e
nc
ei
npr
i
c
e
?
A)The
r
ei
sas
ur
pl
usofPl
ant
ehoc
ke
yc
ar
dsandas
hor
t
a
geofCr
os
byr
ooki
ec
ar
ds
.
B)Manype
opl
ear
emor
ef
as
c
i
na
t
e
dbyhoc
ke
ygoal
i
e
st
hanbyhoc
ke
yf
or
war
ds
.
C)The
r
ear
emor
eCr
os
byr
ooki
ec
ar
dsa
vai
l
abl
ef
orc
ol
l
e
c
t
or
st
obuyt
hant
he
r
ear
ePl
ant
ec
ar
ds
.
D)Pl
ant
ewast
hefir
s
tgoal
i
et
owe
aramas
ki
nagame
;t
hede
mandf
orhi
sc
ar
dsr
os
easwe
al
t
hyf
or
me
r
goal
i
e
sa
t
t
e
mpt
e
dt
obuyt
he
m ast
hanksf
ors
t
i
l
lha
vi
ngt
e
e
t
h.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7576
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:De
mandandSuppl
yBot
hCount
:
A Tal
eofTwoHoc
ke
yCar
ds
21)I
nr
e
s
pons
et
oas
ur
pl
ust
hemar
ke
tpr
i
c
eofagoodwi
l
lf
al
l
;ast
hepr
i
c
ef
al
l
s
,t
hequant
i
t
yde
mande
d
wi
l
li
nc
r
e
as
eandquant
i
t
ys
uppl
i
e
swi
l
lde
c
r
e
as
eunt
i
le
qui
l
i
br
i
um i
sr
e
ac
he
d.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
55
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22)Sc
a
r
c
i
t
yi
sde
fine
dast
hes
i
t
ua
t
i
ont
ha
te
xi
s
t
swhe
nt
hequant
i
t
yde
mande
df
oragoodi
sgr
e
a
t
e
rt
han
t
hequant
i
t
ys
uppl
i
e
d.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
23)Mar
ke
te
qui
l
i
br
i
um oc
c
ur
swhe
r
es
uppl
ye
qual
sde
mand.
Ans
we
r
:F
ALSE
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
24)Ne
ar
l
yaquar
t
e
rofChi
na'
s1.
3bi
l
l
i
onpe
opl
ear
eunde
rt
hea
geof15.How wi
l
lt
hi
sa
ffe
c
thi
ghs
c
hool
e
nr
ol
l
me
ntove
rt
hene
xtfif
t
e
e
nye
ar
s
?Thel
abourmar
ke
tove
rt
hene
xtfif
t
e
e
nye
ar
s
?
Ans
we
r
:Thede
mandf
orhi
ghs
c
hoole
duc
a
t
i
onwi
l
li
nc
r
e
as
e
.Thes
uppl
yofl
abourove
rt
hene
xt15
ye
ar
swi
l
li
nc
r
e
as
e
.
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
25)Cur
r
e
nt
l
y
,Chi
nabuysmor
et
han40% oft
heCana
di
anc
anol
ac
r
op.I
nt
hes
umme
rof2016t
he
Chi
ne
s
egove
r
nme
ntwaspl
anni
ngt
oi
mpl
e
me
ntpol
i
c
i
e
st
ha
twoul
ds
e
ve
r
e
l
yl
i
mi
tt
heabi
l
i
t
yof
Canadi
anf
a
r
me
r
st
os
e
l
lc
anol
at
oChi
na
.I
fChi
nawe
r
et
os
t
opbuyi
ngCanadi
anc
anol
awha
twoul
d
happe
ni
nt
hemar
ke
tf
orCanadi
anc
anol
a?
Ans
we
r
:Thede
mandc
ur
vef
orCanadi
anc
anol
awoul
ds
hi
f
tt
ot
hel
e
f
tr
e
s
ul
t
i
ngi
nal
owe
rmar
ke
tpr
i
c
e
f
orCanadi
anc
anol
a
.
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
26)I
ft
hepr
i
c
eofapr
oduc
ti
sabovee
qui
l
i
br
i
um,wha
tf
or
c
e
si
tdown?
Ans
we
r
:Whe
nt
hepr
i
c
ei
sabovee
qui
l
i
br
i
um,as
ur
pl
usoc
c
ur
s
.Somepr
oduc
e
r
swhoar
eunabl
et
os
e
l
l
t
hepr
oduc
twi
l
lha
veani
nc
e
nt
i
vet
ooffe
rt
os
e
l
lt
hepr
oduc
ta
tal
owe
rpr
i
c
e
.Al
owe
rpr
i
c
ewi
l
l
s
i
mul
t
ane
ous
l
yde
c
r
e
as
et
hequant
i
t
ys
uppl
i
e
dandi
nc
r
e
as
et
hequant
i
t
yde
mande
d.Thi
sdownwar
d
pr
e
s
s
ur
eonpr
i
c
ec
ont
i
nue
sunt
i
lt
hes
ur
pl
usi
se
l
i
mi
na
t
e
dande
qui
l
i
br
i
um i
sac
hi
e
ve
d.
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
56
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Tabl
e3.
3
Pr
i
c
eper
Bus
he
l
$3
6
9
12
15
18
21
24
Quant
i
t
y
Demanded
(
bus
he
l
s
)
30,
000
26,
000
22,
000
18,
000
15,
000
12,
000
8,
000
4,
000
Quant
i
t
y
Suppl
i
ed
(
bus
he
l
s
)
0
4,
000
9,
000
12,
000
15,
000
22,
000
28,
000
36,
000
27)Re
f
e
rt
oTabl
e3.
3.Thet
abl
ec
ont
ai
nsi
nf
or
ma
t
i
onaboutt
hec
or
nmar
ke
t
.Us
et
het
abl
et
oans
we
rt
he
f
ol
l
owi
ngque
s
t
i
ons
.
a
. Wha
tar
et
hee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yofc
or
n?
b. Suppos
et
hepr
e
vai
l
i
ngpr
i
c
ei
s$9pe
rbus
he
l
.I
st
he
r
eas
hor
t
a
georas
ur
pl
usi
nt
hemar
ke
t
?
c
. Wha
ti
st
hequant
i
t
yoft
hes
hor
t
a
geors
ur
pl
us
?
d. How manybus
he
l
swi
l
lbes
ol
di
ft
hemar
ke
tpr
i
c
ei
s$9pe
rbus
he
l
?
e
.I
ft
hemar
ke
tpr
i
c
ei
s$9pe
rbus
he
l
,wha
tmus
thappe
nt
or
e
s
t
or
ee
qui
l
i
br
i
um i
nt
hemar
ke
t
?
f
. Atwha
tpr
i
c
ewi
l
ls
uppl
i
e
r
sbeabl
et
os
e
l
l22,
000bus
he
l
sofc
or
n?
g. Suppos
et
hemar
ke
tpr
i
c
ei
s$21pe
rbus
he
l
.I
st
he
r
eas
hor
t
a
georas
ur
pl
usi
nt
hemar
ke
t
?
h. Wha
ti
st
hequant
i
t
yoft
hes
hor
t
a
geors
ur
pl
us
?
i
. How manybus
he
l
swi
l
lbes
ol
di
ft
hemar
ke
tpr
i
c
ei
s$21pe
rbus
he
l
?
j
. I
ft
hemar
ke
tpr
i
c
ei
s$21pe
rbus
he
l
,wha
tmus
thappe
nt
or
e
s
t
or
ee
qui
l
i
br
i
um i
nt
hemar
ke
t
?
Ans
we
r
:
a
. Equi
l
i
br
i
um pr
i
c
e=$15;Equi
l
i
br
i
um quant
i
t
y=15,
000bus
he
l
s
.
b. The
r
ei
sas
hor
t
a
ge
.
c
. Shor
t
a
ge=22,
000-9,
000=13,
000bus
he
l
s
.
d. Quant
i
t
ys
ol
d=9,
000bus
he
l
s
.
e
. Pr
i
c
emus
tr
i
s
e
.
f
. At$9pe
rbus
he
l
g. The
r
ei
sas
ur
pl
us
.
h. Sur
pl
us=28,
000-8,
000=20,
000bus
he
l
s
.
i
. Quant
i
t
ys
ol
d=8,
000bus
he
l
s
.
j
. Pr
i
c
emus
tf
al
l
.
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Anal
yt
i
cSki
l
l
s
57
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28)Atmar
ke
te
qui
l
i
br
i
um,
A)de
mande
qual
ss
uppl
y
.
B)quant
i
t
yde
mande
de
qual
squant
i
t
ys
uppl
i
e
d.
C)s
ur
pl
us
e
sar
egr
e
a
t
e
rt
hans
hor
t
a
ge
s
.
D)s
hor
t
a
ge
sar
egr
e
a
t
e
rt
hans
ur
pl
us
e
s
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
29)Atapr
oduc
t
'
se
qui
l
i
br
i
um pr
i
c
e
,
A)anyonewhone
e
dst
hepr
oduc
twi
l
lbeabl
et
obuyt
hepr
oduc
t
,r
e
gar
dl
e
s
sofabi
l
i
t
yt
opa
y
.
B)t
hef
e
de
r
algove
r
nme
ntwi
l
lpr
ovi
det
hepr
oduc
tt
oanyonewhoc
annota
ffor
di
t
.
C)notal
ls
e
l
l
e
r
swhoar
ewi
l
l
i
ngt
oac
c
e
ptt
hepr
i
c
ewi
l
lfindbuye
r
sf
ort
he
i
rpr
oduc
t
s
.
D)anybuye
rwhoi
swi
l
l
i
ngandabl
et
opa
yt
hepr
i
c
ewi
l
lfindas
e
l
l
e
rf
ort
hepr
oduc
t
.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
7374
Topi
c
:De
mandvs
.Quant
i
t
yDe
mande
d
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
58
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Fi
gur
e3.
9
30)Re
f
e
rt
oFi
g
ur
e3.
9.Thefigur
eaboves
howst
hes
uppl
yandde
mandc
ur
ve
sf
ort
womar
ke
t
s
:t
he
mar
ke
tf
oror
i
gi
nalMi
c
he
l
ange
l
os
c
ul
pt
ur
e
sandt
hemar
ke
tf
orRa
yBans
ungl
as
s
e
s
.Whi
c
hgr
aphmos
t
l
i
ke
l
yr
e
pr
e
s
e
nt
swhi
c
hmar
ke
t
?
A)Gr
aphBr
e
pr
e
s
e
nt
st
hemar
ke
tf
oror
i
gi
nalMi
c
he
l
ange
l
os
c
ul
pt
ur
e
sandGr
aphAr
e
pr
e
s
e
nt
st
he
mar
ke
tf
orRa
yBans
ungl
as
s
e
s
.
B)Gr
aphAr
e
pr
e
s
e
nt
st
hemar
ke
tf
oror
i
gi
nalMi
c
he
l
ange
l
os
c
ul
pt
ur
e
sandGr
aphBr
e
pr
e
s
e
nt
st
he
mar
ke
tf
orRa
yBans
ungl
as
s
e
s
.
C)Gr
aphAr
e
pr
e
s
e
nt
sbot
ht
hemar
ke
tf
oror
i
gi
nalMi
c
he
l
ange
l
os
c
ul
pt
ur
e
sandf
orRa
yBans
ungl
as
s
e
s
.
D)Gr
aphBr
e
pr
e
s
e
nt
sbot
ht
hemar
ke
tf
oror
i
gi
nalMi
c
he
l
ange
l
os
c
ul
pt
ur
e
sandf
orRa
yBans
ungl
as
s
e
s
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
7374
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
31)I
nt
hes
pr
i
ngof2016t
he
r
ewasas
e
ve
r
ef
or
e
s
tfir
ei
nAl
be
r
t
a
,whi
c
hf
or
c
e
dt
hee
vac
ua
t
i
onofFor
t
Mc
Mur
r
a
yandt
hes
hutdownofmanyoi
ls
andsope
r
a
t
i
ons
.Asar
e
s
ul
t
,t
he
r
ewasl
e
s
sc
r
udeoi
l
pr
oduc
e
di
nAl
be
r
t
at
hannor
mal
.Att
hepr
e
fir
ee
qui
l
i
br
i
um pr
i
c
e(
i
.
e
.
,a
tt
hei
ni
t
i
ale
qui
l
i
br
i
um pr
i
c
e
)
,
wewoul
de
xpe
c
tt
os
e
e
A)as
ur
pl
usofgas
ol
i
ne
.
B)t
hequant
i
t
yde
mande
de
qualt
ot
hequant
i
t
ys
uppl
i
e
d.
C)as
hor
t
a
geofgas
ol
i
ne
.
D)ani
nc
r
e
as
ei
nt
hede
mandf
orgas
ol
i
ne
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
59
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Fi
gur
e3.
10
32)Re
f
e
rt
oFi
g
ur
e3.
10.I
ft
hepr
i
c
ei
s$25,
A)t
he
r
ewoul
dbeas
ur
pl
usof300uni
t
s
.
B)t
he
r
ewoul
dbeas
hor
t
a
geof300uni
t
s
.
C)t
he
r
ewoul
dbeas
ur
pl
usof200uni
t
s
.
D)t
he
r
ewoul
dbeas
hor
t
a
geof200uni
t
s
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
33)Re
f
e
rt
oFi
g
ur
e3.
10.Atapr
i
c
eof$25,how manyuni
t
swi
l
lbes
ol
d?
A)400
B)500
C)600
D)800
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
34)Re
f
e
rt
oFi
g
ur
e3.
10.I
ft
hec
ur
r
e
ntmar
ke
tpr
i
c
ei
s$25,t
hemar
ke
twi
l
lac
hi
e
vee
qui
l
i
br
i
um t
hr
ough
A)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hes
uppl
yandde
c
r
e
as
i
ngt
hede
mand.
B)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hes
uppl
yandi
nc
r
e
as
i
ngt
hede
mand.
C)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandi
nc
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
D)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandde
c
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
Fi
gur
e3.
11
60
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35)Re
f
e
rt
oFi
g
ur
e3.
11.Atapr
i
c
eof$5,
A)t
he
r
ewoul
dbeas
ur
pl
usof4uni
t
s
.
B)t
he
r
ewoul
dbeas
c
ar
c
i
t
yof4uni
t
s
.
C)t
he
r
ewoul
dbeas
hor
t
a
geof6uni
t
s
.
D)t
he
r
ewoul
dbeas
hor
t
a
geof4uni
t
s
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
36)Re
f
e
rt
oFi
g
ur
e3.
11.Atapr
i
c
eof$15,t
hequant
i
t
ys
ol
d
A)i
s2uni
t
s
.
B)i
s4uni
t
s
.
C)i
s6uni
t
s
.
D)c
annotbede
t
e
r
mi
ne
d.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
61
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37)Re
f
e
rt
oFi
g
ur
e3.
11.I
naf
r
e
emar
ke
ts
uc
hast
ha
tde
pi
c
t
e
dabove
,as
hor
t
a
gei
se
l
i
mi
na
t
e
dby
A)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hes
uppl
yandde
c
r
e
as
i
ngt
hede
mand.
B)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hes
uppl
yandi
nc
r
e
as
i
ngt
hede
mand.
C)apr
i
c
ede
c
r
e
as
e
,de
c
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandi
nc
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
D)apr
i
c
ei
nc
r
e
as
e
,i
nc
r
e
as
i
ngt
hequant
i
t
ys
uppl
i
e
dandde
c
r
e
as
i
ngt
hequant
i
t
yde
mande
d.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
38)As
s
umet
he
r
ei
sas
ur
pl
usi
nt
hemar
ke
tf
orhybr
i
daut
omobi
l
e
s
.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
s
c
or
r
e
c
t
l
yde
s
c
r
i
be
st
hi
ss
i
t
ua
t
i
on?
A)Thes
uppl
yofhybr
i
daut
omobi
l
e
si
sgr
e
a
t
e
rt
hant
hede
mandf
orhybr
i
daut
omobi
l
e
s
.
B)Somec
ons
ume
r
swi
l
lbeunabl
et
oobt
ai
nhybr
i
daut
omobi
l
e
sa
tt
hemar
ke
tpr
i
c
eandwi
l
lha
vean
i
nc
e
nt
i
vet
ooffe
rt
obuyt
hepr
oduc
ta
tahi
ghe
rpr
i
c
e
.
C)Thepr
i
c
eofhybr
i
daut
omobi
l
e
swi
l
lf
al
li
nr
e
s
pons
et
ot
hes
ur
pl
us
;ast
hepr
i
c
ef
al
l
st
hequant
i
t
y
de
mande
dwi
l
li
nc
r
e
as
eandt
hequant
i
t
ys
uppl
i
e
dwi
l
lde
c
r
e
as
e
.
D)Thes
ur
pl
uswi
l
lc
aus
eani
nc
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
eofhybr
i
daut
omobi
l
e
s
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
39)Whi
c
hoft
hef
ol
l
owi
ngde
s
c
r
i
be
sac
har
ac
t
e
r
i
s
t
i
cofape
r
f
e
c
t
l
yc
ompe
t
i
t
i
vemar
ke
t
?
A)The
r
ear
emanybuye
r
sbutf
e
ws
e
l
l
e
r
s
.
B)The
r
ear
emanys
e
l
l
e
r
sbutf
e
w buye
r
s
.
C)The
r
ear
emanybuye
r
sands
e
l
l
e
r
s
.
D)Equi
l
i
br
i
um i
sac
hi
e
ve
dwhe
nde
mandf
ort
hepr
oduc
ts
ol
di
nt
hemar
ke
te
qual
st
hes
uppl
y
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
7374
Topi
c
:Pe
r
f
e
c
t
l
yCompe
t
i
t
i
veMar
ke
t
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
62
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Fi
gur
e3.
12
40)Re
f
e
rt
oFi
g
ur
e3.
12.Thefigur
eabover
e
pr
e
s
e
nt
st
hemar
ke
tf
orc
offe
egr
i
nde
r
s
.As
s
umet
ha
tt
he
mar
ke
tpr
i
c
ei
s$21.Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)The
r
ei
sas
hor
t
a
get
ha
twi
l
lc
aus
et
hepr
i
c
et
oi
nc
r
e
as
e
;quant
i
t
yde
mande
dwi
l
lt
he
nde
c
r
e
as
eand
quant
i
t
ys
uppl
i
e
dwi
l
li
nc
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
B)The
r
ei
sas
hor
t
a
get
ha
twi
l
lc
aus
et
hepr
i
c
et
oi
nc
r
e
as
e
;quant
i
t
ys
uppl
i
e
dwi
l
lt
he
nde
c
r
e
as
eand
quant
i
t
yde
mande
dwi
l
li
nc
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
C)The
r
ei
sas
hor
t
a
get
ha
twi
l
lc
aus
et
hepr
i
c
et
oi
nc
r
e
as
e
;de
mandwi
l
lt
he
nde
c
r
e
as
eands
uppl
ywi
l
l
i
nc
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
D)The
r
ei
sas
hor
t
a
get
ha
twi
l
lc
aus
et
hepr
i
c
et
ode
c
r
e
as
e
;quant
i
t
yde
mande
dwi
l
lt
he
ni
nc
r
e
as
eand
quant
i
t
ys
uppl
i
e
dwi
l
lde
c
r
e
as
eunt
i
lt
hepr
i
c
ee
qual
s$25.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
41)Re
f
e
rt
oFi
g
ur
e3.
12.Thefigur
eabover
e
pr
e
s
e
nt
st
hemar
ke
tf
orc
offe
egr
i
nde
r
s
.As
s
umet
ha
tt
he
pr
i
c
eofc
offe
egr
i
nde
r
si
s$50.Att
hi
spr
i
c
e
A)t
hequant
i
t
ys
uppl
i
e
de
x
c
e
e
dst
hequant
i
t
yde
mande
dby100.Thepr
i
c
ewi
l
le
ve
nt
ual
l
yf
al
lt
o$25
whe
r
equant
i
t
yde
mande
dwi
l
le
qualquant
i
t
ys
uppl
i
e
d.
B)t
hes
uppl
ye
x
c
e
e
dsde
mandby90.Somepr
oduc
e
r
swi
l
lha
veani
nc
e
nt
i
vet
ooffe
rt
os
e
l
lc
offe
e
gr
i
nde
r
sa
tal
owe
rpr
i
c
e
.
C)t
he
r
ei
sas
ur
pl
use
qualt
o90c
offe
egr
i
nde
r
st
ha
twi
l
lbee
l
i
mi
na
t
e
dwhe
nt
hepr
i
c
ef
al
l
st
o$25.
D)t
he
r
ei
sas
ur
pl
use
qualt
o90c
offe
egr
i
nde
r
s
,andt
hepr
i
c
eofc
offe
egr
i
nde
r
swi
l
lf
al
lunt
i
lde
ma
ndi
s
e
qualt
os
uppl
y
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
83
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
63
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42)Re
f
e
rt
oFi
g
ur
e3.
12.Thefigur
eabover
e
pr
e
s
e
nt
st
hemar
ke
tf
orc
offe
egr
i
nde
r
s
.Compar
et
he
c
ondi
t
i
onsi
nt
hemar
ke
twhe
nt
hepr
i
c
ei
s$15andwhe
nt
hepr
i
c
ei
s$21.Whi
c
hoft
hef
ol
l
owi
ng
de
s
c
r
i
be
show t
hemar
ke
tdi
ffe
r
sa
tt
he
s
epr
i
c
e
s
?
A)Ate
ac
hpr
i
c
et
he
r
ei
sas
hor
t
a
ge
;t
hes
hor
t
a
gei
sgr
e
a
t
e
ra
t$15t
hana
t$21.
B)Thedi
ffe
r
e
nc
ebe
t
we
e
nquant
i
t
ys
uppl
i
e
dandquant
i
t
yde
mande
di
sgr
e
a
t
e
ra
t$21t
hana
t$15.
C)Ate
ac
hpr
i
c
et
he
r
ei
sas
hor
t
a
ge
;fir
mswi
l
lr
ai
s
et
hee
qui
l
i
br
i
um pr
i
c
ei
nor
de
rt
oe
l
i
mi
na
t
et
he
s
hor
t
a
ge
.
D)Ate
ac
hpr
i
c
et
hede
mandf
orc
offe
egr
i
nde
r
se
x
c
e
e
dst
hes
uppl
yofc
offe
egr
i
nde
r
s
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
43)I
ft
hequant
i
t
yde
mande
df
orapr
oduc
te
x
c
e
e
dst
hequant
i
t
ys
uppl
i
e
d,t
hemar
ke
tpr
i
c
ewi
l
lr
i
s
e
unt
i
l
A)t
hequant
i
t
yde
mande
de
qual
st
hequant
i
t
ys
uppl
i
e
d.Thepr
oduc
twi
l
lt
he
nnol
onge
rbes
c
ar
c
e
.
B)quant
i
t
yde
mande
de
qual
squant
i
t
ys
uppl
i
e
d.Thee
qui
l
i
br
i
um pr
i
c
ewi
l
lt
he
nbegr
e
a
t
e
rt
hant
he
mar
ke
tpr
i
c
e
.
C)onl
ywe
al
t
hyc
ons
ume
r
swi
l
lbeabl
et
oa
ffor
dt
hepr
oduc
t
.
D)quant
i
t
yde
mande
de
qual
squant
i
t
ys
uppl
i
e
d.Themar
ke
tpr
i
c
ewi
l
lt
he
ne
qualt
hee
qui
l
i
br
i
um pr
i
c
e
.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
44)Whi
c
hoft
hef
ol
l
owi
ngi
se
vi
de
nc
eofas
hor
t
a
geofc
hoc
ol
a
t
e
?
A)Fi
r
msl
owe
rt
hepr
i
c
eofc
hoc
ol
a
t
e
.
B)Thepr
i
c
eofc
hoc
ol
a
t
ei
sr
ai
s
e
di
nor
de
rt
oi
nc
r
e
as
es
al
e
s
.
C)Thee
qui
l
i
br
i
um pr
i
c
eofc
hoc
ol
a
t
ef
al
l
sduet
oade
c
r
e
as
ei
nde
mand.
D)Thequant
i
t
yofc
hoc
ol
a
t
ede
mande
di
sgr
e
a
t
e
rt
hant
hequant
i
t
ys
uppl
i
e
d.
Ans
we
r
:D
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
64
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45)Eve
nwhe
nt
hede
mandf
oronegoodi
shi
gh,t
hepr
i
c
eoft
hegoodi
sal
s
oaffe
c
t
e
dbys
uppl
y
.The
t
e
xt
booki
l
l
us
t
r
a
t
e
st
hi
sbyc
ompar
i
ngt
hepr
i
c
eoft
woi
t
e
ms
.Whi
c
hoft
hef
ol
l
owi
ngde
s
c
r
i
be
st
heva
l
ue
oft
he
s
ei
t
e
ms
?
A)ASi
dne
yCr
os
byhoc
ke
yc
ar
ds
ol
df
orahi
ghe
rpr
i
c
et
hanaJ
ac
que
sPl
ant
ehoc
ke
yc
ar
d.
B)ASi
dne
yCr
os
byhoc
ke
yc
ar
ds
ol
df
orahi
ghe
rpr
i
c
et
hanaWa
yneGr
e
t
zs
kyhoc
ke
yc
ar
d.
C)AJ
ac
que
sPl
ant
ehoc
ke
yc
ar
ds
ol
df
orahi
ghe
rpr
i
c
et
hanat
hanaPa
t
r
i
c
kRoyhoc
ke
yc
ar
d.
D)AJ
ac
que
sPl
ant
ehoc
ke
yc
ar
ds
ol
df
orahi
ghe
rpr
i
c
et
hanaSi
dne
yCr
os
byhoc
ke
yc
ar
d.
Ans
we
r
:D
Di
ff:
1 Pa
geRe
f
:
7576
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:De
mandandSuppl
yBot
hCount
:
A Tal
eofTwoHoc
ke
yCar
ds
46)I
ft
hede
mandf
orSi
dne
yCr
os
byhoc
ke
yc
ar
dsi
sgr
e
a
t
e
rt
hant
hede
mandf
orJ
ac
que
sPl
ant
ehoc
ke
y
c
ar
ds
,wha
twoul
dha
vet
obet
r
uef
ort
hemar
ke
te
qui
l
i
br
i
um pr
i
c
e
sf
ort
he
s
ehoc
ke
yc
ar
dst
obee
qual
?
A)Thes
uppl
yofCr
os
byhoc
ke
yc
ar
dswoul
dha
vet
obel
e
s
st
hant
hes
uppl
yofPl
ant
ehoc
ke
yc
ar
ds
.
B)Thes
uppl
yofPl
ant
ehoc
ke
yc
ar
dswoul
dha
vet
obel
e
s
st
hant
hes
uppl
yofCr
os
byhoc
ke
yc
ar
ds
.
C)Thes
uppl
yofCr
os
byhoc
ke
yc
ar
dsandt
hes
uppl
yofPl
ant
ehoc
ke
yc
ar
dswoul
dha
vet
obee
qual
.
D)I
ft
hede
mandf
orCr
os
byhoc
ke
yc
ar
dsi
sgr
e
a
t
e
rt
hant
hede
mandf
orPl
ant
ehoc
ke
yc
ar
ds
,t
he
mar
ke
te
qui
l
i
br
i
um pr
i
c
ef
orCr
os
byhoc
ke
yc
ar
dswi
l
lal
wa
ysbegr
e
a
t
e
rt
hant
hemar
ke
te
qui
l
i
br
i
um
pr
i
c
ef
orPl
ant
ehoc
ke
yc
ar
ds
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
7778
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:De
mandandSuppl
yBot
hCount
:
A Tal
eofTwoHoc
ke
yCar
ds
47)Ne
wt
e
c
hnol
ogywhi
c
hwoul
dal
l
ow or
di
nar
ywi
ndowst
ober
e
pl
ac
e
dwi
t
hs
ol
a
rc
e
l
l
swoul
dha
ve
wha
ti
mpac
tont
hemar
ke
tf
ors
ol
a
re
l
e
c
t
r
i
c
i
t
y
,al
le
l
s
ee
qual
?
A)As
hi
f
toft
hes
uppl
yc
ur
vet
ot
her
i
ghtandani
nc
r
e
as
ei
npr
i
c
e
.
B)As
hi
f
ti
nt
hede
mandc
ur
vet
ot
her
i
ghtandar
e
duc
t
i
oni
npr
i
c
e
.
C)As
hi
f
ti
nt
hes
uppl
yc
ur
vet
ot
hel
e
f
tandani
nc
r
e
as
ei
npr
i
c
e
.
D)As
hi
f
ti
nt
hede
mandc
ur
vet
ot
hel
e
f
tandr
e
duc
t
i
oni
npr
i
c
e
.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
7778
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:3
.
3Us
eagr
apht
oi
l
l
us
t
r
a
t
emar
ke
te
qui
l
i
br
i
um
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:I
nvi
s
i
bl
eSol
a
rCe
l
l
s
65
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48)I
nr
e
s
pons
et
oas
hor
t
a
ge
,t
hemar
ke
tpr
i
c
eofagoodwi
l
lr
i
s
e
;ast
hepr
i
c
er
i
s
e
s
,de
mandwi
l
l
de
c
r
e
as
eands
uppl
ywi
l
li
nc
r
e
as
eunt
i
le
qui
l
i
br
i
um i
sr
e
ac
he
d.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
74
Topi
c
:Shor
t
a
ge
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
49)As
ur
pl
usi
sde
fine
dast
hes
i
t
ua
t
i
ont
ha
te
xi
s
t
swhe
nt
hequant
i
t
yofagoods
uppl
i
e
di
sgr
e
a
t
e
rt
han
t
hequant
i
t
yde
mande
d.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
50)Mar
ke
te
qui
l
i
br
i
um oc
c
ur
swhe
r
et
hequant
i
t
ys
uppl
i
e
di
se
qualt
ot
hequant
i
t
yde
mande
d.
Ans
we
r
:TRUE
Di
ff:
1 Pa
geRe
f
:
74
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
66
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51)Cons
i
de
rt
hec
ol
l
e
c
t
or
s
'
mar
ke
tf
orfir
s
te
di
t
i
onsoft
wopopul
arc
hi
l
dr
e
n'
sbooks
,Ha
r
r
yPo
t
t
e
ra
ndt
he
Or
de
ro
ft
hePho
e
ni
xbyJ
.K.Rowl
i
ngandRub
yi
nt
heSmo
k
ebyPhi
l
i
pPul
l
man.Sal
e
soft
heHar
r
yPot
t
e
r
nove
lar
emuc
hgr
e
a
t
e
rt
hans
al
e
sofRub
yi
nt
heSmo
k
e
,ye
tt
hepr
i
c
eoft
heHar
r
yPot
t
e
rnove
li
smuc
h
l
owe
rt
hant
hepr
i
c
eofPul
l
man'
snove
l
.
a
. Ononel
ar
gedi
a
gr
am,dr
a
w ade
mandands
uppl
ygr
aphf
orfir
s
te
di
t
i
onsofHa
r
r
yPo
t
t
e
ra
ndt
he
Or
de
ro
ft
hePho
e
ni
xandanot
he
rde
mandands
uppl
ygr
aphf
orfir
s
te
di
t
i
onsofRub
yi
nt
heSmo
k
e
.
b. Show how i
ti
spos
s
i
bl
ef
ort
hepr
i
c
eoft
heHar
r
yPot
t
e
rnove
lt
obemuc
hl
owe
rt
hant
hepr
i
c
eof
Pul
l
man'
snove
l
,e
ve
nt
hought
hede
mandf
ort
heHar
r
yPot
t
e
rnove
li
smuc
hgr
e
a
t
e
rt
hant
hede
mand
f
orRub
yi
nt
heSmo
k
e
.
c
. Pr
ovi
deawr
i
t
t
e
ne
xpl
ana
t
i
ont
oac
c
ompanyyourgr
aphi
c
ali
l
l
us
t
r
a
t
i
on.
Ans
we
r
:
a
.andb.Se
et
hefigur
ebe
l
ow.
c
. Thede
mandf
ort
heHar
r
yPot
t
e
rnove
li
smuc
hgr
e
a
t
e
rt
hant
hede
mandf
ort
hePul
l
mannove
lye
t
t
hel
a
t
t
e
rc
ommandsahi
ghe
rpr
i
c
e
.Theonl
ywa
yt
hi
sc
anbet
r
uei
si
ft
hes
uppl
yoft
heHar
r
yPot
t
e
r
booki
smuc
hgr
e
a
t
e
rt
hant
hes
uppl
yoft
hePul
l
mannove
l
.I
nde
e
d,t
hi
si
st
r
ue
.Fol
l
owi
ngt
hes
uc
c
e
s
sof
e
ar
l
i
e
rHar
r
yPot
t
e
rnove
l
s
,t
hepubl
i
s
he
ri
nc
r
e
as
e
dt
hequant
i
t
ys
uppl
i
e
doft
hefir
s
te
di
t
i
onofJ
.K.
Rowl
i
ng'
sl
a
t
e
rbook,Ha
r
r
yPo
t
t
e
ra
ndt
heOr
de
ro
ft
hePho
e
ni
x
.Pul
l
man'
snove
l
s
,ont
heot
he
rhand,ha
ve
e
nj
oye
donl
ymode
s
ts
uc
c
e
s
s
.
Di
ff:
3 Pa
geRe
f
:
7576
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:De
mandandSuppl
yBot
hCount
:
A Tal
eofTwoHoc
ke
yCar
ds
67
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52)I
nmuc
hofEur
ope
,t
hel
e
gala
get
oobt
ai
nadr
i
ve
r
'
sl
i
c
e
ns
ei
s18.I
ft
hel
e
galdr
i
vi
nga
gei
nCanada
wasc
hange
dt
o18,how woul
dt
hi
saffe
c
tt
hemar
ke
tf
orne
w aut
omobi
l
e
sandt
hemar
ke
tf
oraut
omobi
l
e
i
ns
ur
anc
e
?
Ans
we
r
:Thede
mandf
orne
w aut
omobi
l
e
swoul
dde
c
r
e
as
e
,aswoul
dt
hede
mandf
oraut
omobi
l
e
i
ns
ur
anc
e
.(
Thi
si
mpac
tont
hede
mandf
orne
w aut
omobi
l
e
swoul
dl
i
ke
l
ybeve
r
ys
mal
l
,wi
t
has
l
i
ght
l
y
l
ar
ge
ri
mpa
c
tont
hemar
ke
tf
oraut
omobi
l
ei
ns
ur
anc
east
heove
r
whe
l
mi
ngma
j
or
i
t
yofc
a
rowne
r
sar
e
ove
r18ye
ar
sol
d,asar
emos
tdr
i
ve
r
s
.
)
Di
ff:
1 Pa
geRe
f
:
7374
Topi
c
:Mar
ke
tEqui
l
i
br
i
um
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
68
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Tabl
e3.
4
Pr
i
c
eper
Bus
he
l
$2
4
6
8
10
12
14
16
Quant
i
t
y
Demanded
(
bus
he
l
s
)
40,
000
36,
000
30,
000
24,
000
20,
000
18,
000
12,
000
6,
000
Quant
i
t
y
Suppl
i
ed
(
bus
he
l
s
)
0
4,
000
8,
000
16,
000
20,
000
28,
000
36,
000
40,
000
53)Re
f
e
rt
oTabl
e3.
4.Thet
abl
ec
ont
ai
nsi
nf
or
ma
t
i
onaboutt
hes
or
ghum mar
ke
t
.Us
et
het
abl
et
oans
we
r
t
hef
ol
l
owi
ngque
s
t
i
ons
.
a
. Wha
tar
et
hee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yofs
or
ghum?
b. Suppos
et
hepr
e
vai
l
i
ngpr
i
c
ei
s$6pe
rbus
he
l
.I
st
he
r
eas
hor
t
a
georas
ur
pl
usi
nt
hemar
ke
t
?
c
. Wha
ti
st
hequant
i
t
yoft
hes
hor
t
a
geors
ur
pl
us
?
d. How manybus
he
l
swi
l
lbes
ol
di
ft
hemar
ke
tpr
i
c
ei
s$6pe
rbus
he
l
?
e
.I
ft
hemar
ke
tpr
i
c
ei
s$6pe
rbus
he
l
,wha
tmus
thappe
nt
or
e
s
t
or
ee
qui
l
i
br
i
um i
nt
hemar
ke
t
?
f
. Atwha
tpr
i
c
ewi
l
ls
uppl
i
e
r
sbeabl
et
os
e
l
l36,
000bus
he
l
sofs
or
ghum?
g. Suppos
et
hemar
ke
tpr
i
c
ei
s$14pe
rbus
he
l
.I
st
he
r
eas
hor
t
a
georas
ur
pl
usi
nt
hemar
ke
t
?
h. Wha
ti
st
hequant
i
t
yoft
heaboves
hor
t
a
geors
ur
pl
us
?
i
. How manybus
he
l
swi
l
lbes
ol
di
ft
hemar
ke
tpr
i
c
ei
s$14pe
rbus
he
l
?
j
. I
ft
hemar
ke
tpr
i
c
ei
s$14pe
rbus
he
l
,wha
tmus
thappe
nt
or
e
s
t
or
ee
qui
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3.4 Use demand and supply graphs to predict changes in prices and quantities
1)Le
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C)ani
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8)I
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l
i
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,r
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me
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c
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ei
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l
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br
i
um quant
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e
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r
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e
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l
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obs
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r
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qui
l
i
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i
c
ema
yi
nc
r
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as
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c
r
e
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e
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Ans
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r
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Di
ff:
3 Pa
geRe
f
:
79
Topi
c
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f
t
si
nDe
mandandSuppl
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Le
ar
ni
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nt
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e
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ke
t
?
Fi
gur
e3.
13
72
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11)Re
f
e
rt
oFi
g
ur
e3.
13.As
s
umet
ha
tt
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aphsi
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sfigur
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yc
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c
r
i
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swha
thappe
nsi
nt
hi
smar
ke
ti
ft
he
r
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ubs
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i
al
i
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as
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nt
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i
c
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yc
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s
?
A)Pane
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AACSB:Anal
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73
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12)Re
f
e
rt
oFi
g
ur
e3.
13.As
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umet
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tt
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e
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mandands
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yc
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ve
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sc
l
ot
hi
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hpane
lbe
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s
c
r
i
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swha
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nsi
nt
hi
smar
ke
twhe
nt
hewa
ge
sof
s
e
ams
t
r
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s
s
e
sr
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s
e
?
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Di
ff:
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13)Re
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g
ur
e3.
13.As
s
umet
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tt
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aphsi
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hi
sfigur
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e
pr
e
s
e
ntt
hede
mandands
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yc
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s
f
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tde
s
c
r
i
be
swha
thappe
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nt
hi
smar
ke
twhe
nt
he
r
ei
sani
nc
r
e
as
ei
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pr
oduc
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i
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t
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t
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r
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?
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Di
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AACSB:Anal
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14)Re
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g
ur
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13.As
s
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tt
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e
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orFr
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nt
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ke
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orFr
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nt
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pr
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eofSnappl
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e
s
?
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Di
ff:
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e
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AACSB:Anal
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i
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l
l
s
74
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15)Re
f
e
rt
oFi
g
ur
e3.
13.As
s
umet
ha
tt
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aphsi
nt
hi
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e
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e
s
e
ntt
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mandands
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yc
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ve
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f
orpot
a
t
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ha
ts
t
e
akandpot
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t
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ompl
e
me
nt
s
.Wha
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lde
s
c
r
i
be
swha
thappe
nsi
nt
hi
s
mar
ke
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nt
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i
c
eofs
t
e
akr
i
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e
s
?
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ff:
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i
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AACSB:Anal
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16)Re
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ur
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13.As
s
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nt
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Di
ff:
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17)Re
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ur
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s
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tt
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c
r
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nc
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AACSB:Anal
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75
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18)Pos
i
t
i
vet
e
c
hnol
ogi
c
alc
hangei
nt
hepr
oduc
t
i
onofLCDt
e
l
e
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s
i
onsc
aus
e
dt
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i
c
eofLCD
t
e
l
e
vi
s
i
onst
of
al
l
.Hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
a
nt
,how woul
dt
hi
sa
ffe
c
tt
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ke
tf
orBl
ur
a
ypl
a
ye
r
s
(
ac
ompl
e
me
ntt
oLCDt
e
l
e
vi
s
i
ons
)
?
A)Thes
uppl
yofbl
ur
a
ypl
a
ye
r
swoul
di
nc
r
e
as
eandt
hee
qui
l
i
br
i
um pr
i
c
eofbl
ur
a
ypl
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ye
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swoul
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de
c
r
e
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e
.
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orbl
ur
a
ypl
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ye
r
swoul
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nc
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as
eandt
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l
i
br
i
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i
c
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ur
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i
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r
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e
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a
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r
e
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aus
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ume
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oul
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e
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i
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.
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swoul
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nc
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l
i
br
i
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s
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yc
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f
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ot
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i
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de
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l
i
br
i
um pr
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c
eandquant
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t
yofs
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l
li
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e
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hee
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l
i
br
i
um pr
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c
eofs
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l
li
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r
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e
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hee
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l
i
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i
um quant
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e
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r
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l
i
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i
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c
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r
e
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c
r
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l
i
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l
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r
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e
.
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l
i
br
i
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i
c
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mar
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l
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c
r
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as
e
;t
hee
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l
i
br
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um quant
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t
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nc
r
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ff:
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AACSB:Anal
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20)"
Thepr
i
c
eofc
ompac
tLEDl
i
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e
l
lbe
c
aus
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ove
me
nt
si
npr
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t
i
ont
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c
hnol
ogy
.Asar
e
s
ul
t
,
t
hede
mandf
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nc
ande
s
c
e
ntl
i
ghtbul
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c
r
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e
d.Thi
sc
aus
e
dt
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i
c
eofi
nc
ande
s
c
e
ntl
i
ghtbul
bst
o
f
al
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;ast
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c
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ande
s
c
e
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e
l
lt
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ori
nc
ande
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e
ntl
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r
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ur
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.
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ua
t
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ss
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a
t
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nt
.
A)Thes
t
a
t
e
me
nti
sf
al
s
e
.Ade
c
r
e
as
ei
nt
hepr
i
c
eofc
ompac
tLEDl
i
ght
swoul
dde
c
r
e
as
et
hede
mandf
or
i
nc
ande
s
c
e
ntl
i
ghtbul
bs
,butade
c
r
e
as
ei
nt
hepr
i
c
eofi
nc
ande
s
c
e
ntl
i
ghtbul
bswoul
dnotc
aus
et
he
de
mandf
ori
nc
ande
s
c
e
ntl
i
ghtbul
bst
ode
c
r
e
as
e
.
B)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
et
hede
mandf
ori
nc
ande
s
c
e
ntl
i
ghtbul
bswoul
di
nc
r
e
as
east
hepr
i
c
eof
c
ompac
tLEDl
i
ght
sf
e
l
l
.
C)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
ec
ompac
tLEDl
i
ght
spr
oduc
e
r
swoul
dnotr
e
duc
et
he
i
rpr
i
c
e
sasar
e
s
ul
t
ofi
mpr
ove
me
nt
si
nt
e
c
hnol
ogy;doi
ngs
owoul
dr
e
duc
et
he
i
rpr
ofit
s
.
D)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
ei
tc
onf
us
e
st
hel
a
w ofde
mandwi
t
ht
hel
a
w ofs
uppl
y
.
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CE
Le
ar
ni
ngOut
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4Us
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mandands
uppl
ygr
aphst
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e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
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i
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AACSB:Anal
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Fi
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14
21)Re
f
e
rt
oFi
g
ur
e3.
14.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
orappl
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD1andS1(
poi
ntA)
.I
ft
hepr
i
c
eofor
ange
s
,as
ubs
t
i
t
ut
ef
or
appl
e
s
,de
c
r
e
as
e
sandt
hewa
ge
sofappl
ewor
ke
r
si
nc
r
e
as
e
,how wi
l
lt
hee
qui
l
i
br
i
um poi
ntc
hange
?
A)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oE.
B)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oB.
C)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oC.
D)Thee
qui
l
i
br
i
um wi
l
lfir
s
tmovef
r
om At
oB,t
he
nr
e
t
ur
nt
oA.
Ans
we
r
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Di
ff:
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geRe
f
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7879
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c
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f
t
si
nDe
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y
Le
ar
ni
ngOut
c
ome
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4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
77
Copyright © 2018 Pearson Canada, Inc.
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22)Re
f
e
rt
oFi
g
ur
e3.
14.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
orappl
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD1andS1(
poi
ntA)
.I
fwor
mse
a
thal
ft
heappl
ec
r
op,how wi
l
l
t
hemar
ke
te
qui
l
i
br
i
um poi
ntc
hange
?
A)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oB.
B)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oC.
C)The
r
ewi
l
lbenoc
hangei
nt
hee
qui
l
i
br
i
um poi
nt
.
D)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oE.
Ans
we
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c
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e
di
c
tc
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si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
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23)Re
f
e
rt
oFi
g
ur
e3.
14.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
orappl
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD2andS2(
poi
ntE)
.Whi
c
hoft
hef
ol
l
owi
ngc
hange
swoul
dc
aus
e
t
hee
qui
l
i
br
i
um t
oc
hanget
opoi
ntA?
A)apos
i
t
i
vec
hangei
nt
het
e
c
hnol
ogyus
e
dt
opr
oduc
eappl
e
sandde
c
r
e
as
ei
nt
hepr
i
c
eofor
ange
s
,a
s
ubs
t
i
t
ut
ef
orappl
e
s
B)ani
nc
r
e
as
ei
nt
hewa
ge
sofappl
ewor
ke
r
sandade
c
r
e
as
ei
nt
hepr
i
c
eofor
ange
s
,as
ubs
t
i
t
ut
ef
or
appl
e
s
C)ani
nc
r
e
as
ei
nt
henumbe
rofappl
epr
oduc
e
r
sandade
c
r
e
as
ei
nt
henumbe
rofappl
et
r
e
e
sasar
e
s
ul
t
ofdi
s
e
as
e
D)ade
c
r
e
as
ei
nt
hewa
ge
sofappl
ewor
ke
r
sandani
nc
r
e
as
ei
nt
hepr
i
c
eofor
ange
s
,as
ubs
t
i
t
ut
ef
or
appl
e
s
Ans
we
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Di
ff:
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geRe
f
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7879
Topi
c
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f
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si
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ni
ngOut
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ome
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ede
mandands
uppl
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aphst
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di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
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24)Re
f
e
rt
oFi
g
ur
e3.
14.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
orappl
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD1andS1(
poi
ntA)
.I
ft
he
r
ei
sani
nc
r
e
as
ei
nt
hewa
ge
sofappl
e
wor
ke
r
sandani
nc
r
e
as
ei
nt
hepr
i
c
eofor
ange
s
,as
ubs
t
i
t
ut
ef
orappl
e
s
,t
hee
qui
l
i
br
i
um c
oul
dmovet
o
whi
c
hpoi
nt
?
A)noneoft
hepoi
nt
ss
hown
B)B
C)C
D)E
Ans
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ngOut
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ome
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4Us
ede
mandands
uppl
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aphst
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e
di
c
tc
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si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
78
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25)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)Ani
nc
r
e
as
ei
nde
mandc
aus
e
sac
hangei
ne
qui
l
i
br
i
um pr
i
c
e
;t
hec
hangei
npr
i
c
edoe
snotc
aus
ea
f
ur
t
he
rc
hangei
nde
mandors
uppl
y
.
B)Ade
c
r
e
as
ei
ns
uppl
yc
aus
e
se
qui
l
i
br
i
um pr
i
c
et
or
i
s
e
;t
hei
nc
r
e
as
ei
npr
i
c
et
he
nr
e
s
ul
t
si
nade
c
r
e
as
e
i
nde
mand.
C)I
fbot
hde
mandands
uppl
yi
nc
r
e
as
e
,t
he
r
emus
tbeani
nc
r
e
as
ei
ne
qui
l
i
br
i
um pr
i
c
e
;e
qui
l
i
br
i
um
quant
i
t
yma
ye
i
t
he
ri
nc
r
e
as
eorde
c
r
e
as
e
.
D)I
fde
mandde
c
r
e
as
e
sands
uppl
yi
nc
r
e
as
e
s
,onec
annotde
t
e
r
mi
nei
fe
qui
l
i
br
i
um pr
i
c
ewi
l
li
nc
r
e
as
eor
de
c
r
e
as
ewi
t
houtknowi
ngwhi
c
hc
hangei
sgr
e
a
t
e
r
.
Ans
we
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78
Topi
c
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f
t
si
nDe
mand
Le
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ni
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c
ome
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.
4Us
ede
mandands
uppl
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aphst
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e
di
c
tc
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si
npr
i
c
e
sandquant
i
t
i
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26)Ade
c
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
ef
orapr
oduc
twi
l
lr
e
s
ul
t
A)whe
nt
hequant
i
t
yde
mande
df
ort
hepr
oduc
te
x
c
e
e
dst
hequant
i
t
ys
uppl
i
e
d.
B)whe
nt
he
r
ei
sade
c
r
e
as
ei
ns
uppl
yandade
c
r
e
as
ei
nde
mandf
ort
hepr
oduc
t
.
C)whe
nt
he
r
ei
sani
nc
r
e
as
ei
ns
uppl
yandade
c
r
e
as
ei
nde
mandf
ort
hepr
oduc
t
.
D)whe
nt
he
r
ei
sade
c
r
e
as
ei
nde
mandandade
c
r
e
as
ei
nt
henumbe
roffir
mspr
oduc
i
ngt
hepr
oduc
t
.
Ans
we
r
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Di
ff:
2 Pa
geRe
f
:
79
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
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27)Hur
r
i
c
aneJ
uanhi
tHal
i
f
axi
n2003.Thes
t
or
m di
dove
r$300mi
l
l
i
oni
ndama
ge
.I
nt
hee
ffor
tt
or
e
pai
r
t
hedama
gedonebyt
hes
t
or
m,t
hepr
i
c
e
sofbas
i
cbui
l
di
ngma
t
e
r
i
al
sandc
ont
r
ac
t
or
si
nc
r
e
as
e
d
dr
ama
t
i
c
al
l
y
.Manyr
e
s
i
de
nt
sc
ompl
ai
ne
dofpr
ofit
e
e
r
i
ngandpr
i
c
egougi
ngbyc
ont
r
ac
t
or
sandhome
i
mpr
ove
me
nts
t
or
e
s
.Whi
c
hoft
hef
ol
l
owi
ngoffe
r
st
hebe
s
te
xpl
ana
t
i
onoft
hepr
i
c
ei
nc
r
e
as
e
spe
opl
e
we
r
es
e
e
i
ng?
A)Thehur
r
i
c
aner
e
duc
e
dt
henumbe
rofs
uppl
i
e
r
sofbui
l
di
ngma
t
e
r
i
al
s
.
B)Thehur
r
i
c
anec
r
e
a
t
e
danar
t
i
fic
i
als
hor
t
a
geofbui
l
di
ngma
t
e
r
i
al
s
.
C)Thehur
r
i
c
anec
aus
e
dani
nc
r
e
as
ei
nt
hede
mandf
orbui
l
di
ngma
t
e
r
i
al
s
.
D)The
r
ewasar
e
duc
t
i
oni
ns
uppl
yasfir
mss
hi
ppe
dpl
ywoodandot
he
rma
t
e
r
i
al
st
ol
oc
a
t
i
onsnot
affe
c
t
e
dbyt
hes
t
or
m.
Ans
we
r
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Di
ff:
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f
:
78
Topi
c
:Shi
f
t
si
nDe
mand
Le
ar
ni
ngOut
c
ome
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.
4Us
ede
mandands
uppl
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aphst
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di
c
tc
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si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
79
Copyright © 2018 Pearson Canada, Inc.
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28)Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
eade
c
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
eandani
nc
r
e
as
ei
nt
he
e
qui
l
i
br
i
um quant
i
t
yofs
al
mon?
A)ade
c
r
e
as
ei
nde
mandgr
e
a
t
e
rt
hant
hei
nc
r
e
as
ei
ns
uppl
y
B)ani
nc
r
e
as
ei
ns
uppl
y
C)ani
nc
r
e
as
ei
ns
uppl
yandani
nc
r
e
as
ei
nde
mandgr
e
a
t
e
rt
hant
hei
nc
r
e
as
ei
ns
uppl
y
D)ade
c
r
e
as
ei
nde
mandandade
c
r
e
as
ei
ns
uppl
y
Ans
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c
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f
t
si
nSuppl
y
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ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
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29)Se
l
e
c
tt
hephr
as
et
ha
tc
or
r
e
c
t
l
yc
ompl
e
t
e
st
hef
ol
l
owi
ngs
t
a
t
e
me
nt
."
Apos
i
t
i
vec
hangei
nt
e
c
hnol
ogy
c
aus
e
dani
nc
r
e
as
ei
nt
hes
uppl
yoffla
t
s
c
r
e
e
nt
e
l
e
vi
s
i
ons
.Asar
e
s
ul
t
,________.
"
A)t
hepr
i
c
eoffla
t
s
c
r
e
e
nt
e
l
e
vi
s
i
onsde
c
r
e
as
e
dandt
hede
mandf
orfla
t
s
c
r
e
e
nt
e
l
e
vi
s
i
onsi
nc
r
e
as
e
d
B)t
hee
qui
l
i
br
i
um quant
i
t
yoffla
t
s
c
r
e
e
nt
e
l
e
vi
s
i
onsde
c
r
e
as
e
d
C)t
hepr
i
c
eoffla
t
s
c
r
e
e
nt
e
l
e
vi
s
i
onsde
c
r
e
as
e
dandt
hequant
i
t
yde
mande
doffla
t
s
c
r
e
e
nt
e
l
e
vi
s
i
ons
i
nc
r
e
as
e
d
D)t
hepr
i
c
eoffla
t
s
c
r
e
e
nt
e
l
e
vi
s
i
onsde
c
r
e
as
e
d,a
ndt
hel
owe
rpr
i
c
ec
aus
e
dt
hes
uppl
yoffla
t
s
c
r
e
e
n
t
e
l
e
vi
s
i
onst
ode
c
r
e
as
e
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
30)Wha
twoul
dhappe
ni
nt
hemar
ke
tf
orl
as
e
re
yes
ur
ge
r
yi
fpr
ovi
nc
i
alhe
al
t
hpl
anss
t
ar
t
e
dt
oc
ove
ra
por
t
i
onoft
hepr
i
c
eofvol
unt
ar
ypr
oc
e
dur
e
s
?
A)De
mandwi
l
li
nc
r
e
as
e
,butt
hi
swi
l
lnots
hi
f
tt
hes
uppl
yc
ur
ve
.
B)Suppl
ywi
l
li
nc
r
e
as
e
,butt
hi
swi
l
lnots
hi
f
tt
hede
mandc
ur
ve
.
C)De
mandands
uppl
ywi
l
lbot
hi
nc
r
e
as
e
.
D)De
mandwi
l
li
nc
r
e
as
eands
uppl
ywi
l
lde
c
r
e
as
e
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
78
Topi
c
:Shi
f
t
si
nDe
mand
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
31)I
fpr
ovi
nc
e
sde
c
i
det
oc
ove
rpar
toft
hepr
i
c
eofvol
unt
ar
yl
as
e
re
yes
ur
ge
r
yandmor
edoc
t
or
sde
c
i
de
t
oe
nt
e
rt
hefie
l
dofl
as
e
re
yes
ur
ge
r
y
,wha
twi
l
lhappe
ni
nt
hemar
ke
tf
orl
as
e
re
yes
ur
ge
r
yasar
e
s
ul
tof
t
he
s
et
wof
a
c
t
or
s
?
A)De
mandwi
l
li
nc
r
e
as
e
,butt
he
s
et
wof
ac
t
or
swi
l
lnots
hi
f
tt
hes
uppl
yc
ur
ve
.
B)Suppl
ywi
l
li
nc
r
e
as
e
,butt
he
s
et
wof
ac
t
or
swi
l
lnots
hi
f
tt
hede
mandc
ur
ve
.
C)De
mandands
uppl
ywi
l
lbot
hi
nc
r
e
as
e
.
D)De
mandwi
l
li
nc
r
e
as
eands
uppl
ywi
l
lde
c
r
e
as
e
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
7879
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
32)Phot
ovol
t
ai
cc
e
l
l
s(
s
ol
arpane
l
s
)ha
vebe
e
ni
nus
es
i
nc
et
he1970s
.Re
c
e
nt
l
y
,ne
wt
e
c
hnol
ogyhasbe
e
n
de
ve
l
ope
dwhi
c
hs
omet
hi
nkwi
l
lal
l
ow r
e
gul
arwi
ndowst
ober
e
pl
ac
e
dwi
t
hs
ol
arpane
l
s
.I
ft
hi
s
t
e
c
hnol
ogywor
ksast
he
s
epe
opl
ee
xpe
c
twha
twi
l
lhappe
ni
nt
hemar
ke
tf
ors
ol
are
ne
r
gy?
A)Thene
wt
e
c
hnol
ogywi
l
lc
aus
et
hes
uppl
yofs
ol
a
re
ne
r
gyt
os
hi
f
tt
ot
her
i
ghtandt
hepr
i
c
eofs
ol
a
r
e
ne
r
gyt
of
al
l
.
80
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B)Thene
wt
e
c
hnol
ogyc
aus
e
dani
nc
r
e
as
ei
nt
hes
uppl
yofs
ol
are
ne
r
gyandani
nc
r
e
as
ei
nt
hepr
i
c
eof
s
ol
are
ne
r
gy
.
C)Thene
wt
e
c
hnol
ogyc
aus
e
dade
c
r
e
as
ei
nt
hede
ma
ndf
ors
ol
a
re
ne
r
gy
.
D)Thene
wt
e
c
hnol
ogyc
aus
e
dani
nc
r
e
as
ei
nt
hequa
nt
i
t
yofs
ol
a
re
ne
r
gys
uppl
i
e
d.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
7778
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheFal
l
i
ngPr
i
c
eofs
ol
are
ne
r
gys
33)"
Be
c
aus
eappl
e
sandor
ange
sar
es
ubs
t
i
t
ut
e
s
,ani
nc
r
e
as
ei
nt
hepr
i
c
eofor
ange
swi
l
lc
aus
et
he
de
mandf
orappl
e
st
oi
nc
r
e
as
e
.Thi
si
ni
t
i
als
hi
f
ti
nde
mandf
orappl
e
sr
e
s
ul
t
si
nahi
ghe
rpr
i
c
ef
ora
ppl
e
s
;
t
hi
shi
ghe
rpr
i
c
ewi
l
lc
aus
et
hede
mandc
ur
vef
ora
ppl
e
st
os
hi
f
tt
ot
her
i
ght
.
"Whi
c
hoft
hef
ol
l
owi
ng
c
or
r
e
c
t
l
yc
omme
nt
sont
hi
ss
t
a
t
e
me
nt
?
A)Thes
t
a
t
e
me
ntwi
l
lbet
r
uei
fc
ons
ume
rt
as
t
e
sf
orappl
e
sandor
ange
sdonotc
hange
.
B)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
eac
hangei
nt
hepr
i
c
eofappl
e
swoul
dnotc
hanget
hede
mandf
or
appl
e
s
.
C)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
eor
ange
sar
ei
nf
e
r
i
orgoods
;appl
e
sar
enor
malgoods
.
D)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
eonec
annotas
s
umet
ha
tappl
e
sandor
ange
sar
es
ubs
t
i
t
ut
e
sf
oral
l
c
ons
ume
r
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
81
Topi
c
:Shi
f
t
si
nDe
mand
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Don'
tLe
tThi
sHappe
nt
oYou:Re
me
mbe
r
:A Changei
naGood'
sPr
i
c
eDoe
sNotCaus
et
heDe
mand
orSuppl
yCur
vet
oShi
f
t
34)Thede
mandf
orl
obs
t
e
ri
shi
ghe
ra
tChr
i
s
t
mast
hani
nFe
br
uar
y
.I
ft
hee
qui
l
i
br
i
um pr
i
c
eofl
obs
t
e
ri
s
l
owe
ra
tChr
i
s
t
mast
hani
nFe
br
uar
y
,t
he
n
A)t
hes
uppl
yofl
obs
t
e
ri
sl
owe
ri
nFe
br
uar
yt
hana
tChr
i
s
t
mas
.
B)c
ons
ume
r
s
'
t
as
t
e
sf
orl
obs
t
e
rar
egr
e
a
t
e
ri
nFe
br
uar
yt
hana
tChr
i
s
t
mas
.
C)t
he
r
ei
sas
ur
pl
usofl
obs
t
e
ra
tChr
i
s
t
masandas
hor
t
a
geofl
obs
t
e
ri
nFe
br
uar
y
.
D)t
he
r
ear
emor
es
ubs
t
i
t
ut
e
sf
orl
obs
t
e
ra
tChr
i
s
t
mast
hant
he
r
ear
ei
nFe
br
uar
y
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
8081
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c
:Shi
f
t
si
nSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Hi
ghDe
mandandLow Pr
i
c
e
si
nt
heLobs
t
e
rMar
ke
t
?
81
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35)Al
le
l
s
ee
qual
,ani
nc
r
e
as
ei
nt
henumbe
roffir
mspr
oduc
i
nge
ne
r
gydr
i
nkswi
l
l
A)s
hi
f
tt
hes
uppl
yc
ur
vef
ore
ne
r
gydr
i
nkst
ot
her
i
ght
.
B)s
hi
f
tt
hes
uppl
yc
ur
vef
ore
ne
r
gydr
i
nkst
ot
hel
e
f
t
.
C)s
hi
f
tt
hede
mandc
ur
vef
ore
ne
r
gydr
i
nkst
ot
her
i
ght
.
D)s
hi
f
tt
hede
mandc
ur
vef
ore
ne
r
gydr
i
nkst
ot
hel
e
f
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
8485
Topi
c
:Shi
f
t
si
nSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Chapt
e
rOpe
ne
r
:TheMar
ke
tf
orEne
r
gyDr
i
nks
36)Al
le
l
s
ee
qual
,as
uc
c
e
s
s
f
ulmar
ke
t
i
ngc
ampai
gnf
ore
ne
r
gydr
i
nkswoul
dc
aus
et
hee
qui
l
i
br
i
um pr
i
c
e
ofe
ne
r
gydr
i
nkst
o________andt
hee
qui
l
i
br
i
um quant
i
t
yofe
ne
r
gydr
i
nkst
o________.
A)i
nc
r
e
as
e
;i
nc
r
e
as
e
B)i
nc
r
e
as
e
;de
c
r
e
as
e
C)de
c
r
e
as
e
;i
nc
r
e
as
e
D)de
c
r
e
as
e
;de
c
r
e
as
e
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
8485
Topi
c
:Shi
f
t
si
nSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Chapt
e
rOpe
ne
r
:TheMar
ke
tf
orEne
r
gyDr
i
nks
37)I
ft
hede
mandf
orapr
oduc
ti
nc
r
e
as
e
sandt
hes
uppl
yoft
hes
amepr
oduc
ti
nc
r
e
as
e
s
,t
hee
qui
l
i
br
i
um
pr
i
c
ewi
l
li
nc
r
e
as
e
.
Ans
we
r
:F
ALSE
Di
ff:
3 Pa
geRe
f
:
79
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
38)Ast
henumbe
roffir
msi
namar
ke
tde
c
r
e
as
e
s
,t
hes
uppl
yc
ur
vewi
l
ls
hi
f
tt
ot
hel
e
f
tandt
he
e
qui
l
i
br
i
um pr
i
c
ewi
l
lr
i
s
e
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
39)I
ft
henumbe
roffir
mspr
oduc
i
ngmout
hwas
hi
nc
r
e
as
e
sandc
ons
ume
rpr
e
f
e
r
e
nc
ef
ormout
hwas
h
i
nc
r
e
as
e
s
,t
hee
qui
l
i
br
i
um pr
i
c
eofmout
hwas
hwi
l
lde
fini
t
e
l
yi
nc
r
e
as
e
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
79
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
82
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40)I
ft
hede
mandc
ur
vef
orapr
oduc
ts
hi
f
t
st
ot
hel
e
f
tandt
hes
uppl
yc
ur
vef
ort
hepr
oduc
ts
hi
f
t
st
ot
he
l
e
f
t
,t
hee
qui
l
i
br
i
um quant
i
t
ywi
l
lde
c
r
e
as
e
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
79
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
41)Di
s
c
us
st
hec
or
r
e
c
tandi
nc
or
r
e
c
te
c
onomi
canal
ys
i
si
nt
hef
ol
l
owi
ngs
t
a
t
e
me
nt
s
.
"
Uni
f
or(
t
heuni
ont
ha
tr
e
pr
e
s
e
nt
sCanadi
anaut
owor
ke
r
s
,amongot
he
ri
ndus
t
r
i
e
s
)hass
uc
c
e
s
s
f
ul
l
y
ne
got
i
a
t
e
da9pe
r
c
e
nti
nc
r
e
as
ei
nwa
ge
sf
ori
t
swor
ke
r
s
.Thi
si
nc
r
e
as
ei
nt
hewa
ger
a
t
ec
aus
e
sani
nc
r
e
as
e
i
nde
mandf
oraut
omobi
l
e
s
,s
i
nc
emanyc
ons
ume
r
snow ha
vegr
e
a
t
e
ri
nc
ome
s
,andal
s
oc
aus
e
sa
de
c
r
e
as
ei
ns
uppl
yofaut
omobi
l
e
sbe
c
aus
et
hec
os
tofpr
oduc
t
i
onhasi
nc
r
e
as
e
d.The
s
ee
ffe
c
t
sc
anc
e
l
e
ac
hot
he
routr
e
s
ul
t
i
ngi
nnoc
hangei
nt
hee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yi
nt
heaut
omobi
l
emar
ke
t
.
"
Ans
we
r
:Thewa
ger
a
t
ei
sade
t
e
r
mi
nantoft
hes
uppl
yofaut
omobi
l
e
s
,butnotade
t
e
r
mi
nantoft
he
de
mandf
oraut
omobi
l
e
s(
Uni
f
or
'
saut
owor
ke
r
smakeupave
r
ys
mal
lpor
t
i
onoft
hepopul
a
t
i
on)
.The
i
nc
r
e
as
ei
nt
hewa
ger
a
t
ewi
l
ls
hi
f
tt
heaut
omobi
l
es
uppl
yc
ur
vet
ot
hel
e
f
tal
ongagi
ve
nde
mandc
ur
ve
.
Thi
swi
l
lr
e
s
ul
ti
nahi
ghe
re
qui
l
i
br
i
um pr
i
c
eandal
owe
re
qui
l
i
br
i
um quant
i
t
yi
nt
hemar
ke
tf
or
aut
omobi
l
e
s
.
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
42)Expl
ai
nhow i
twoul
dbepos
s
i
bl
ef
ort
hee
qui
l
i
br
i
um pr
i
c
eande
qui
l
i
br
i
um quant
i
t
yt
obot
hi
nc
r
e
as
e
i
nt
hemar
ke
tf
ormot
or
c
yc
l
e
si
fc
ons
ume
rpr
e
f
e
r
e
nc
ef
ormot
or
c
yc
l
e
si
nc
r
e
as
e
sandt
henumbe
rof
mot
or
c
yc
l
emanuf
ac
t
ur
e
r
sde
c
r
e
as
e
s
.
Ans
we
r
:Ani
nc
r
e
as
ei
nc
ons
ume
rpr
e
f
e
r
e
nc
ewi
l
ls
hi
f
tt
hede
mandc
ur
vet
ot
her
i
ght
,whi
c
hi
nc
r
e
as
e
s
t
hee
qui
l
i
br
i
um pr
i
c
eandt
hee
qui
l
i
br
i
um quant
i
t
y
.Ade
c
r
e
as
ei
nt
henumbe
rofmanuf
ac
t
ur
e
r
swi
l
l
s
hi
f
tt
hes
uppl
yc
ur
vet
ot
hel
e
f
t
,whi
c
hwi
l
li
nc
r
e
as
et
hee
qui
l
i
br
i
um pr
i
c
eandde
c
r
e
as
et
hee
qui
l
i
br
i
um
quant
i
t
y
.I
nbot
hc
as
e
s
,t
hee
qui
l
i
br
i
um pr
i
c
ei
nc
r
e
as
e
s
.Fort
hee
qui
l
i
br
i
um quant
i
t
yt
oi
nc
r
e
as
e
,t
he
r
i
ght
war
ds
hi
f
ti
nde
mandr
e
s
ul
t
i
ngf
r
om t
hei
nc
r
e
as
ei
nc
ons
ume
rpr
e
f
e
r
e
nc
emus
tbemor
et
hant
he
l
e
f
t
war
ds
hi
f
ti
ns
uppl
ywhi
c
hr
e
s
ul
t
sf
r
om t
hede
c
r
e
as
ei
nmanuf
ac
t
ur
e
r
s
.
Di
ff:
2 Pa
geRe
f
:
79
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
83
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43)I
ne
ac
hoft
hef
ol
l
owi
ngs
i
t
ua
t
i
ons
,l
i
s
twha
twi
l
lhappe
nt
ot
hee
qui
l
i
br
i
um pr
i
c
eandt
he
e
qui
l
i
br
i
um quant
i
t
yf
orapar
t
i
c
ul
arpr
oduc
t
,whi
c
hi
sanor
malgood.
a
. Thepopul
a
t
i
oni
nc
r
e
as
e
sandt
hepr
i
c
eofi
nput
si
nc
r
e
as
e
.
b. Thepr
i
c
eofac
ompl
e
me
nti
nc
r
e
as
e
sandt
e
c
hnol
ogyadvanc
e
s
.
c
. Thenumbe
roffir
msi
nt
hemar
ke
ti
nc
r
e
as
e
sandi
nc
omei
nc
r
e
as
e
s
.
d. Pr
i
c
ei
se
xpe
c
t
e
dt
oi
nc
r
e
as
ei
nt
hef
ut
ur
e
.
e
. Cons
ume
rpr
e
f
e
r
e
nc
ei
nc
r
e
as
e
sandt
hepr
i
c
eofas
ubs
t
i
t
ut
ei
npr
oduc
t
i
onde
c
r
e
as
e
s
.
Ans
we
r
:
a
. Pr
i
c
ei
nc
r
e
as
e
s
;Quant
i
t
yma
yi
nc
r
e
as
eorde
c
r
e
as
e
.
b. Pr
i
c
ede
c
r
e
as
e
s
;Quant
i
t
yma
yi
nc
r
e
as
eorde
c
r
e
as
e
.
c
. Quant
i
t
yi
nc
r
e
as
e
s
;Pr
i
c
ema
yi
nc
r
e
as
eorde
c
r
e
as
e
.
d. Pr
i
c
ei
nc
r
e
as
e
s
;Quant
i
t
yma
yi
nc
r
e
as
eorde
c
r
e
as
e
.
e
. Quant
i
t
yi
nc
r
e
as
e
s
;Pr
i
c
ema
yi
nc
r
e
as
eorde
c
r
e
as
e
.
Di
ff:
3 Pa
geRe
f
:
79
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
Le
ar
ni
ngOut
c
ome
:3
.
4Us
ede
mandands
uppl
ygr
aphst
opr
e
di
c
tc
hange
si
npr
i
c
e
sandquant
i
t
i
e
s
AACSB:Anal
yt
i
cSki
l
l
s
44)Le
tD=de
mand,S=s
uppl
y
,P=e
qui
l
i
br
i
um pr
i
c
e
,Q=e
qui
l
i
br
i
um quant
i
t
y
.Wha
thappe
nsi
nt
he
mar
ke
tf
ors
ol
a
rpane
l
si
ft
hegove
r
nme
ntoffe
r
st
axbr
e
akst
oe
nc
our
a
gemanuf
ac
t
ur
e
r
st
opr
oduc
emor
e
s
ol
arpane
l
s
?
A)Di
nc
r
e
as
e
s
,Snoc
hange
,PandQ i
nc
r
e
as
e
B)Si
nc
r
e
as
e
s
,D noc
hange
,Pde
c
r
e
as
e
s
,Q i
nc
r
e
as
e
s
C)DandSi
nc
r
e
as
e
,PandQde
c
r
e
as
e
D)Dnoc
hange
,Si
nc
r
e
as
e
s
,Pde
c
r
e
as
e
s
,Q de
c
r
e
as
e
s
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
45)Hur
r
i
c
aneAr
t
huri
nt
e
r
r
upt
e
ds
hi
pme
nt
sofc
r
udeoi
lt
or
e
fine
r
i
e
si
ne
as
t
e
r
nCanada
.I
nt
hemar
ke
t
f
orgas
ol
i
ne
,
A)t
hes
uppl
yc
ur
ves
hi
f
t
e
dt
ot
hel
e
f
t
,r
e
s
ul
t
i
ngi
nani
nc
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
e
.
B)t
hes
uppl
yc
ur
ves
hi
f
t
e
dt
ot
her
i
ght
,r
e
s
ul
t
i
ngi
nani
nc
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
e
.
C)t
hede
mandc
ur
ves
hi
f
t
e
dt
ot
hel
e
f
t
,r
e
s
ul
t
i
ngi
nade
c
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
e
.
D)t
hede
mandc
ur
ves
hi
f
t
e
dt
ot
her
i
ght
,r
e
s
ul
t
i
ngi
nani
nc
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
e
.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
84
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46)El
e
c
t
r
i
cc
are
nt
hus
i
as
t
swantt
obuymor
ee
l
e
c
t
r
i
cc
ar
sa
tal
owe
rpr
i
c
e
.Al
loft
hef
ol
l
owi
nge
ve
nt
s
woul
dha
vet
hi
se
ffe
c
te
x
c
e
p
t
A)t
e
c
hnol
ogi
c
aladvanc
e
me
nti
nt
hepr
oduc
t
i
onofe
l
e
c
t
r
i
cc
a
rba
t
t
e
r
i
e
s
.
B)ani
nc
r
e
as
ei
nt
henumbe
rofmanuf
ac
t
ur
e
r
sofe
l
e
c
t
r
i
cc
ar
s
.
C)ade
c
r
e
as
ei
nt
hepr
i
c
eofl
i
t
hi
um,whi
c
hi
sus
e
di
nt
hee
l
e
c
t
r
i
cc
a
rba
t
t
e
r
i
e
s
.
D)ani
nc
r
e
as
ei
nt
hepr
i
c
eofgas
ol
i
ne
.
Ans
we
r
:D
Di
ff:
3 Pa
geRe
f
:
7879
Topi
c
:Shi
f
t
si
nDe
mand
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
47)Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
ebot
ht
hee
qui
l
i
br
i
um pr
i
c
eande
qui
l
i
br
i
um quant
i
t
yofr
ame
n
t
oi
nc
r
e
as
e
?As
s
umet
ha
tr
ame
ni
sani
nf
e
r
i
orgood.
A)ani
nc
r
e
as
ei
nc
ons
ume
ri
nc
ome
B)as
t
r
i
ket
ha
ts
har
pl
yr
e
duc
e
sr
ame
nout
put
C)ade
c
r
e
as
ei
nc
ons
ume
ri
nc
ome
D)adi
e
tt
ha
te
nc
our
a
ge
spe
opl
enott
oe
a
tnoodl
e
s
.
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
87
Topi
c
:Shi
f
t
si
nDe
mand
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
48)Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
et
hee
qui
l
i
br
i
um pr
i
c
eofke
t
c
hupt
oi
nc
r
e
as
eandt
hee
qui
l
i
br
i
um
quant
i
t
yofke
t
c
hupt
ode
c
r
e
as
e
?
A)ade
c
r
e
as
ei
nt
hepr
i
c
eoft
oma
t
oe
s
B)ani
nc
r
e
as
ei
nt
hepr
i
c
eoft
oma
t
oe
s
C)ani
nc
r
e
as
ei
nt
hepr
i
c
eofmus
t
ar
d,as
ubs
t
i
t
ut
ef
orke
t
c
hup
D)ani
nc
r
e
as
ei
nt
hepr
i
c
eoff
r
e
nc
hf
r
i
e
s
,ac
ompl
e
me
ntf
orke
t
c
hup
Ans
we
r
:B
Di
ff:
3 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
85
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49)As
s
umet
ha
tt
hehour
l
ypr
i
c
ef
ort
hes
e
r
vi
c
e
sofpe
r
s
onalt
r
ai
ne
r
shasr
i
s
e
nands
al
e
soft
he
s
es
e
r
vi
c
e
s
ha
veal
s
or
i
s
e
n.Onec
anc
onc
l
udet
ha
t
A)t
hel
a
w ofde
mandhasbe
e
nvi
ol
a
t
e
d.
B)t
henumbe
rofpe
r
s
onalt
r
ai
ne
r
shasi
nc
r
e
as
e
d.
C)t
hede
mandf
orpe
r
s
onalt
r
ai
ne
r
shasi
nc
r
e
as
e
d.
D)pe
r
s
onalt
r
ai
ne
r
sar
ede
l
i
be
r
a
t
e
l
yc
har
gi
nghi
ghpr
i
c
e
sbe
c
aus
et
he
ypr
ovi
des
e
r
vi
c
e
sf
orwe
al
t
hy
c
l
i
e
nt
s
.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
78
Topi
c
:Shi
f
t
si
nDe
mand
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
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50)Pr
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net
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c
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ni
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ome
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ai
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51)I
nr
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te
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ai
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ffe
c
toft
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s
ee
ve
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sont
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nemar
ke
t
?
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s
ul
t
,
t
he
r
ehasbe
e
nani
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r
e
as
ei
nt
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qui
l
i
br
i
um quant
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t
yandanunc
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r
t
ai
ne
ffe
c
tont
hee
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l
i
br
i
um pr
i
c
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.
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ht
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sha
ves
hi
f
t
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i
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t
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i
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AACSB:Anal
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86
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52)St
udi
e
sha
ves
hownt
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tdr
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e
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r
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i
onoft
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apehar
ve
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tofB.
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nt
hemar
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orr
e
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ne
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et
wode
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nt
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d
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nc
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as
ede
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ul
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i
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.
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ede
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r
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ul
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r
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l
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r
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hange
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ume
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as
t
e
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,ac
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ompani
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r
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ul
ti
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eorde
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87
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Fi
gur
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54)Re
f
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55)Re
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ur
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58)Re
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veThi
nki
ng
60)Re
f
e
rt
oFi
g
ur
e3.
15.As
s
umet
ha
tt
hegr
aphsi
nt
hi
sfigur
er
e
pr
e
s
e
ntt
hede
mandands
uppl
yc
ur
ve
s
f
orr
ame
nnoodl
e
s
,ani
nf
e
r
i
orgood.Whi
c
hpane
lde
s
c
r
i
be
swha
thappe
nsi
nt
hi
smar
ke
tasar
e
s
ul
tofan
i
nc
r
e
as
ei
ni
nc
ome
?
A)Pane
l(
a)
B)Pane
l(
b)
C)Pane
l(
c
)
D)Pane
l(
d)
Ans
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Di
ff:
2 Pa
geRe
f
:
78
Topi
c
:Shi
f
t
si
nDe
mand
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
90
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61)Dur
i
ngt
he1990
s
,pos
i
t
i
vet
e
c
hnol
ogi
c
alc
hangei
nt
hepr
oduc
t
i
onofc
hi
c
ke
nc
aus
e
dt
hepr
i
c
eof
c
hi
c
ke
nt
of
al
l
.Hol
di
nge
ve
r
yt
hi
nge
l
s
ec
ons
t
ant
,how woul
dt
hi
saffe
c
tt
hemar
ke
tf
orpor
k(
as
ubs
t
i
t
ut
e
f
orc
hi
c
ke
n)
?
A)Thes
uppl
yofpor
kwoul
di
nc
r
e
as
eandt
hee
qui
l
i
br
i
um pr
i
c
eofpor
kwoul
dde
c
r
e
as
e
.
B)Thede
mandf
orpor
kwoul
dde
c
r
e
as
eandt
hee
qui
l
i
br
i
um pr
i
c
eofpor
kwoul
dde
c
r
e
as
e
.
C)Thede
mandf
orpor
kwoul
di
nc
r
e
as
ebe
c
aus
ec
ons
ume
r
sc
oul
da
ffor
dt
obuymor
ec
hi
c
ke
nandpor
k.
D)Thede
mandf
orpor
kwoul
dde
c
r
e
as
eandt
hee
qui
l
i
br
i
um pr
i
c
eofpor
kwoul
di
nc
r
e
as
e
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
78
Topi
c
:Shi
f
t
si
nDe
mand
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
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AACSB:Anal
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62)As
s
umet
ha
tbot
ht
hede
mandc
ur
veandt
hes
uppl
yc
ur
vef
ort
abl
e
tc
omput
e
r
ss
hi
f
tt
ot
hel
e
f
tbut
t
hede
mandc
ur
ves
hi
f
t
smor
et
hant
hes
uppl
yc
ur
ve
.Asar
e
s
ul
t
,
A)bot
ht
hee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yoft
abl
e
tc
omput
e
r
swi
l
lde
c
r
e
as
e
.
B)t
hee
qui
l
i
br
i
um pr
i
c
eoft
abl
e
tc
omput
e
r
swi
l
lde
c
r
e
as
e
;t
hee
qui
l
i
br
i
um quant
i
t
yma
yi
nc
r
e
as
eor
de
c
r
e
as
e
.
C)t
hee
qui
l
i
br
i
um pr
i
c
eoft
abl
e
tc
omput
e
r
sma
yi
nc
r
e
as
eorde
c
r
e
as
e
;t
hee
qui
l
i
br
i
um quant
i
t
ywi
l
l
de
c
r
e
as
e
.
D)t
hee
qui
l
i
br
i
um pr
i
c
eoft
abl
e
tc
omput
e
r
swi
l
li
nc
r
e
as
e
;t
hee
qui
l
i
br
i
um quant
i
t
yma
yi
nc
r
e
as
eor
de
c
r
e
as
e
.
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:Cl
as
s
i
c(
1CE)
-upda
t
e
df
or2CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
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t
i
vemar
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s
AACSB:Anal
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63)"
Thepr
i
c
eofdi
gi
t
alc
ame
r
asf
e
l
lbe
c
aus
eofi
mpr
ove
me
nt
si
npr
oduc
t
i
ont
e
c
hnol
ogy
.Asar
e
s
ul
t
,t
he
de
mandf
orfil
mc
ame
r
asde
c
r
e
as
e
d.Thi
sc
aus
e
dt
hepr
i
c
eoffil
mc
ame
r
ast
of
al
l
;ast
hepr
i
c
eoffil
m
c
ame
r
asf
e
l
l
,t
hede
mandf
orfil
mc
ame
r
asde
c
r
e
as
e
de
ve
nf
ur
t
he
r
.
"Eval
ua
t
et
hi
ss
t
a
t
e
me
nt
.
A)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
et
hede
mandf
orfil
mc
ame
r
aswoul
di
nc
r
e
as
east
hepr
i
c
eofdi
gi
t
al
c
ame
r
asf
e
l
l
.
B)Thes
t
a
t
e
me
nti
sf
al
s
e
.Ade
c
r
e
as
ei
nt
hepr
i
c
eofdi
gi
t
alc
ame
r
aswoul
dde
c
r
e
as
et
hede
mandf
orfil
m
c
ame
r
as
,butade
c
r
e
as
ei
nt
hepr
i
c
eoffil
mc
ame
r
aswoul
dnotc
aus
et
hede
mandf
orfil
mc
ame
r
ast
o
de
c
r
e
as
e
.
C)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
ei
tc
onf
us
e
st
hel
a
w ofde
mandwi
t
ht
hel
a
w ofs
uppl
y
.
D)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
edi
gi
t
alc
ame
r
apr
oduc
e
r
swoul
dnotr
e
duc
et
he
i
rpr
i
c
e
sasar
e
s
ul
tof
i
mpr
ove
me
nt
si
nt
e
c
hnol
ogy;doi
ngs
owoul
dr
e
duc
et
he
i
rpr
ofit
s
.
Ans
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:B
Di
ff:
2 Pa
geRe
f
:
78
Topi
c
:Shi
f
t
si
nDe
mand
2CE:1
CE
Le
ar
ni
ngOut
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ome
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c
r
o4:
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
91
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Fi
gur
e3.
16
64)Re
f
e
rt
oFi
g
ur
e3.
16.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
ormot
or
c
yc
l
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD1andS1(
poi
ntA)
.I
ft
hepr
i
c
eofmot
or
c
yc
l
ee
ngi
ne
s
i
nc
r
e
as
e
s
,andt
hewa
ge
sofmot
or
c
yc
l
emanuf
ac
t
ur
e
r
si
nc
r
e
as
e
,how wi
l
lt
hee
qui
l
i
br
i
um poi
ntc
hange
?
A)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oE.
B)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oB.
C)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oC.
D)Thee
qui
l
i
br
i
um wi
l
lfir
s
tmovef
r
om At
oB,t
he
nr
e
t
ur
nt
oA.
Ans
we
r
:B
Di
ff:
3 Pa
geRe
f
:
88/88
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
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l
l
s
65)Re
f
e
rt
oFi
g
ur
e3.
16.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
ormot
or
c
yc
l
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD1andS1(
poi
ntA)
.I
ft
he
r
ei
sas
ur
pl
usofmot
or
c
yc
l
e
s
,
how wi
l
lt
hee
qui
l
i
br
i
um poi
ntc
hange
?
A)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oB.
B)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oC.
C)The
r
ewi
l
lbenoc
hangei
nt
hee
qui
l
i
br
i
um poi
nt
.
D)Thee
qui
l
i
br
i
um poi
ntwi
l
lmovef
r
om At
oE.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Sur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
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c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
92
Copyright © 2018 Pearson Canada, Inc.
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66)Re
f
e
rt
oFi
g
ur
e3.
16.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
ormot
or
c
yc
l
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD2andS1(
poi
ntC)
.Whi
c
hoft
hef
ol
l
owi
ngc
hange
swoul
d
c
aus
et
hee
qui
l
i
br
i
um t
oc
hanget
opoi
ntB?
A)apos
i
t
i
vec
hangei
nt
het
e
c
hnol
ogyus
e
dt
opr
oduc
emot
or
c
yc
l
e
sandade
c
r
e
as
ei
nt
hepr
i
c
eof
mot
or
c
yc
l
ei
ns
ur
anc
e(
ac
ompl
e
me
ntt
omot
or
c
yc
l
e
s
)
B)ani
nc
r
e
as
ei
nt
hewa
ge
sofmot
or
c
yc
l
ewor
ke
r
sa
ndade
c
r
e
as
ei
nt
hepr
i
c
eofmot
or
c
yc
l
ei
ns
ur
anc
e(
a
c
ompl
e
me
ntt
omot
or
c
yc
l
e
s
)
C)ani
nc
r
e
as
ei
nt
henumbe
rofmot
or
c
yc
l
epr
oduc
e
r
sandani
nc
r
e
as
ei
nt
henumbe
rofc
ons
ume
r
swho
pr
e
f
e
rr
i
di
ngmot
or
c
yc
l
e
s
D)ani
nc
r
e
as
ei
nt
hewa
ge
sofmot
or
c
yc
l
ewor
ke
r
sa
ndani
nc
r
e
as
ei
nt
hepr
i
c
eofmot
or
c
yc
l
ei
ns
ur
anc
e
(
ac
ompl
e
me
ntt
omot
or
c
yc
l
e
s
)
Ans
we
r
:B
Di
ff:
3 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:1
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ar
ni
ngOut
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ome
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c
r
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ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
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vemar
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67)Re
f
e
rt
oFi
g
ur
e3.
16.Thegr
aphi
nt
hi
sfigur
ei
l
l
us
t
r
a
t
e
sani
ni
t
i
alc
ompe
t
i
t
i
vee
qui
l
i
br
i
um i
nt
he
mar
ke
tf
ormot
or
c
yc
l
e
sa
tt
hei
nt
e
r
s
e
c
t
i
onofD1andS1(
poi
ntA)
.I
ft
he
r
ei
sani
nc
r
e
as
ei
nt
hewa
ge
sof
mot
or
c
yc
l
ewor
ke
r
sandani
nc
r
e
as
ei
nt
hepr
i
c
eofmot
or
c
yc
l
ei
ns
ur
anc
e(
ac
ompl
e
me
ntt
omot
or
c
yc
l
e
s
)
,
t
hee
qui
l
i
br
i
um c
oul
dmovet
owhi
c
hpoi
nt
?
A)A
B)B
C)C
D)E
Ans
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:D
Di
ff:
3 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:1
CE
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ar
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ngOut
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i
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68)Whi
c
hoft
hef
ol
l
owi
ngs
t
a
t
e
me
nt
si
st
r
ue
?
A)Ani
nc
r
e
as
ei
nde
mandc
aus
e
sani
nc
r
e
as
ei
ne
qui
l
i
br
i
um pr
i
c
e
;t
hei
nc
r
e
as
ei
npr
i
c
ec
aus
e
ss
uppl
yt
o
i
nc
r
e
as
e
.
B)Ade
c
r
e
as
ei
ns
uppl
yc
aus
e
se
qui
l
i
br
i
um pr
i
c
et
or
i
s
e
;t
hei
nc
r
e
as
ei
npr
i
c
et
he
nr
e
s
ul
t
si
nade
c
r
e
as
e
i
nquant
i
t
yde
mande
d.
C)I
fbot
hde
mandands
uppl
yde
c
r
e
as
e
,t
he
r
emus
tbeade
c
r
e
as
ei
ne
qui
l
i
br
i
um pr
i
c
e
;e
qui
l
i
br
i
um
quant
i
t
yma
ye
i
t
he
ri
nc
r
e
as
eorde
c
r
e
as
e
.
D)I
fde
mandi
nc
r
e
as
e
sands
uppl
yde
c
r
e
as
e
s
,onec
annotde
t
e
r
mi
nei
fe
qui
l
i
br
i
um pr
i
c
ewi
l
li
nc
r
e
as
eor
de
c
r
e
as
ewi
t
houtknowi
ngwhi
c
hc
hangei
sgr
e
a
t
e
r
.
Ans
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r
:B
Di
ff:
3 Pa
geRe
f
:
77
Topi
c
:Shi
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t
si
nSuppl
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2CE:1
CE
Le
ar
ni
ngOut
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ome
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ai
nhow s
uppl
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unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
93
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69)Ani
nc
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
ef
orapr
oduc
twi
l
lr
e
s
ul
t
A)whe
nt
hequant
i
t
yde
mande
df
ort
hepr
oduc
te
x
c
e
e
dst
hequant
i
t
ys
uppl
i
e
d.
B)whe
nt
he
r
ei
sade
c
r
e
as
ei
ns
uppl
yandani
nc
r
e
a
s
ei
nde
mandf
ort
hepr
oduc
t
.
C)whe
nt
he
r
ei
sade
c
r
e
as
ei
ns
uppl
yandade
c
r
e
as
ei
nde
mandf
ort
hepr
oduc
t
.
D)whe
nt
he
r
ei
sani
nc
r
e
as
ei
nde
mandandani
nc
r
e
as
ei
nt
henumbe
roffir
mspr
oduc
i
ngt
hepr
oduc
t
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
70)Tui
t
i
onr
i
s
e
sal
mos
te
ve
r
yye
ar
,ye
tuni
ve
r
s
i
t
i
e
ss
e
e
mt
oha
vemor
eandmor
es
t
ude
nt
se
ve
r
yye
ar
.
Wha
twoul
de
xpl
ai
nt
hi
s
?
A)Thede
mandf
oruni
ve
r
s
i
t
ye
duc
a
t
i
oni
sr
i
s
i
ngmor
es
l
owl
yt
hans
uppl
y
.
B)Thes
uppl
yoft
heuni
ve
r
s
i
t
ye
duc
a
t
i
onhadde
c
r
e
as
e
dandt
hede
mandf
oruni
ve
r
s
i
t
ye
duc
a
t
i
on
r
e
mai
ne
dunc
hange
d.
C)Thede
mandf
oruni
ve
r
s
i
t
ye
duc
a
t
i
oni
sr
i
s
i
ngmor
equi
c
kl
yt
hans
uppl
y
.
D)Thes
uppl
yofuni
ve
r
s
i
t
ye
duc
a
t
i
onandde
mandf
oruni
ve
r
s
i
t
ye
duc
a
t
i
onar
ebot
hf
al
l
i
ng.
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:Ne
wt
o2
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
71)Whi
c
hoft
hef
ol
l
owi
ngwoul
dc
aus
eani
nc
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
eandade
c
r
e
as
ei
nt
he
e
qui
l
i
br
i
um quant
i
t
yofwa
t
e
r
me
l
on?
A)ade
c
r
e
as
ei
nde
mandandani
nc
r
e
as
ei
ns
uppl
y
B)ade
c
r
e
as
ei
ns
uppl
y
C)ani
nc
r
e
as
ei
nde
mandandani
nc
r
e
as
ei
ns
uppl
ygr
e
a
t
e
rt
hant
hei
nc
r
e
as
ei
nde
mand
D)ani
nc
r
e
as
ei
nde
mandandani
nc
r
e
as
ei
ns
uppl
y
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
72)Se
l
e
c
tt
hephr
as
et
ha
tc
or
r
e
c
t
l
yc
ompl
e
t
e
st
hef
ol
l
owi
ngs
t
a
t
e
me
nt
."
Ade
c
r
e
as
ei
nt
henumbe
rof
manuf
ac
t
ur
e
r
sc
aus
e
dade
c
r
e
as
ei
nt
hes
uppl
yofs
ai
l
boa
t
s
.Asar
e
s
ul
t
,________.
"
A)t
hepr
i
c
eofs
ai
l
boa
t
si
nc
r
e
as
e
dandt
hede
mandf
ors
ai
l
boa
t
sde
c
r
e
as
e
d
B)t
hee
qui
l
i
br
i
um quant
i
t
yofs
ai
l
boa
t
si
nc
r
e
as
e
d
C)t
hepr
i
c
eofs
ai
l
boa
t
si
nc
r
e
as
e
dandt
hequant
i
t
yde
mande
dofs
ai
l
boa
t
sde
c
r
e
as
e
d
D)t
hepr
i
c
eofs
ai
l
boa
t
si
nc
r
e
as
e
dandt
hehi
ghe
rpr
i
c
ec
aus
e
dt
hes
uppl
yofs
ai
l
boa
t
st
oi
nc
r
e
as
e
Ans
we
r
:C
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
73)Di
gi
t
alvi
de
or
e
c
or
de
r
s(
DVRsorPVRs
)we
r
ei
nt
r
oduc
e
dt
ot
hemar
ke
ti
n1999,andne
wt
e
c
hnol
ogy
hasal
l
owe
df
ort
hec
os
tofmanuf
ac
t
ur
i
ngt
her
e
c
or
de
r
st
ode
c
l
i
nes
i
gni
fic
ant
l
ys
i
nc
et
he
i
ri
ni
t
i
al
i
nt
r
oduc
t
i
on.How di
dt
hi
sc
hangei
nt
e
c
hnol
ogyaffe
c
tt
hemar
ke
tf
orDVRs
?
A)Thene
wt
e
c
hnol
ogyc
aus
e
dani
nc
r
e
as
ei
nt
hes
uppl
yofDVRsandade
c
r
e
as
ei
nt
hepr
i
c
eofDVRs
.
B)Thene
wt
e
c
hnol
ogyc
aus
e
dani
nc
r
e
as
ei
nt
hes
uppl
yofDVRsandani
nc
r
e
as
ei
nt
hepr
i
c
eofDVRs
.
94
Copyright © 2018 Pearson Canada, Inc.
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C)Thene
wt
e
c
hnol
ogyc
aus
e
dade
c
r
e
as
ei
nt
hede
ma
ndf
orDVRs
.
D)Thene
wt
e
c
hnol
ogyc
aus
e
dani
nc
r
e
as
ei
nt
hequa
nt
i
t
yofDVRss
uppl
i
e
d.
Ans
we
r
:A
Di
ff:
2 Pa
geRe
f
:
7778
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Maki
ngt
heConne
c
t
i
on:TheFal
l
i
ngPr
i
c
eofs
ol
are
ne
r
gys
74)Thepr
i
c
eofl
obs
t
e
ri
st
ypi
c
al
l
yl
owe
ri
nt
hes
umme
rt
hani
nt
hes
pr
i
ng.Whi
c
hoft
hef
ol
l
owi
ng
e
xpl
ana
t
i
onsf
ort
hi
sdi
ffe
r
e
nc
ei
sgi
ve
ni
nt
het
e
xt
book?
A)Hot
,humi
dwe
a
t
he
rus
ual
l
yr
e
duc
e
st
hede
mandf
orl
obs
t
e
r
.
B)Pe
opl
ewhous
ual
l
ye
a
tl
obs
t
e
ri
not
he
rs
e
as
onss
ubs
t
i
t
ut
el
e
s
se
xpe
ns
i
vefis
hwhe
nt
he
ygoon
vac
a
t
i
on;t
hi
sdr
i
ve
sdownt
hede
mandf
orl
obs
t
e
r
.
C)Thes
uppl
yofl
obs
t
e
ri
sgr
e
a
t
e
ri
nt
hes
umme
rt
hani
nt
hes
pr
i
ng.
D)I
mpor
tr
e
s
t
r
i
c
t
i
onsar
ee
as
e
di
nt
hes
umme
r
;asmor
el
obs
t
e
r
sar
ei
mpor
t
e
dt
hepr
i
c
eofl
obs
t
e
rf
al
l
s
.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
8081
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Sol
ve
dPr
obl
e
m:Hi
ghDe
mandandLow Pr
i
c
e
si
nt
heLobs
t
e
rMar
ke
t
?
75)"
Be
c
aus
eCokeandPe
ps
iar
es
ubs
t
i
t
ut
e
s
,ade
c
r
e
as
ei
nt
hepr
i
c
eofPe
ps
iwi
l
lc
aus
et
hede
mandf
or
Coket
ode
c
r
e
as
e
.Thi
si
ni
t
i
als
hi
f
ti
nde
mandf
orCoker
e
s
ul
t
si
nal
owe
rpr
i
c
ef
orCoke
;t
hi
sl
owe
rpr
i
c
e
wi
l
lc
aus
et
hede
mandc
ur
vef
orCoket
os
hi
f
tt
ot
hel
e
f
t
.
"Whi
c
hoft
hef
ol
l
owi
ngc
or
r
e
c
t
l
yc
omme
nt
son
t
hi
ss
t
a
t
e
me
nt
?
A)Thes
t
a
t
e
me
ntwi
l
lbet
r
uei
fc
ons
ume
rt
as
t
e
sf
orCokeandPe
ps
idonotc
hange
.
B)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
eac
hangei
nt
hepr
i
c
eofCokewoul
dnotc
hanget
hede
mandf
orCoke
.
C)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
ePe
ps
ii
sani
nf
e
r
i
orgood;Cokei
sanor
malgood.
D)Thes
t
a
t
e
me
nti
sf
al
s
ebe
c
aus
eonec
annotas
s
umet
ha
tCokeandPe
ps
iar
es
ubs
t
i
t
ut
e
sf
oral
l
c
ons
ume
r
s
.
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
81
Topi
c
:Shi
f
t
si
nDe
mand
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:Don'
tLe
tThi
sHappe
nt
oYou:Re
me
mbe
r
:A Changei
naGood'
sPr
i
c
eDoe
sNotCaus
et
heDe
mand
orSuppl
yCur
vet
oShi
f
t
95
Copyright © 2018 Pearson Canada, Inc.
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lOMoARcPSD|9882954
76)Al
le
l
s
ee
qual
,a________ofor
angej
ui
c
eus
e
di
nbr
e
akf
as
tdr
i
nkswoul
ds
hi
f
tt
he________c
ur
vef
or
br
e
akf
as
tdr
i
nkst
ot
hel
e
f
t
.
A)s
hor
t
a
ge
;de
mand
B)s
hor
t
a
ge
;s
uppl
y
C)s
ur
pl
us
;de
mand
D)s
ur
pl
us
;s
uppl
y
Ans
we
r
:B
Di
ff:
2 Pa
geRe
f
:
8485
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:AnI
ns
i
deLOOK:
Pe
ps
i
CoTr
i
e
st
oCr
e
a
t
eaNe
w Ca
t
e
gor
yofDr
i
nkst
ha
tPr
omi
s
e
sEne
r
gyand
He
al
t
hBe
ne
fit
s
77)Al
le
l
s
ee
qual
,as
hor
t
a
geofor
angej
ui
c
ewoul
dc
aus
et
he
A)e
qui
l
i
br
i
um quant
i
t
yofbr
e
akf
as
tdr
i
nkst
oi
nc
r
e
as
eandt
hee
qui
l
i
br
i
um pr
i
c
eofbr
e
akf
as
tdr
i
nkst
o
de
c
r
e
as
e
.
B)e
qui
l
i
br
i
um pr
i
c
eofbr
e
akf
as
tdr
i
nkst
oi
nc
r
e
as
eandt
hee
qui
l
i
br
i
um quant
i
t
yofbr
e
akf
as
tdr
i
nkst
o
de
c
r
e
as
e
.
C)e
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yofbr
e
akf
as
tdr
i
nkst
oi
nc
r
e
as
e
.
D)e
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yofbr
e
akf
as
tdr
i
nkst
ode
c
r
e
as
e
.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
85
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
Spe
c
i
alFe
a
t
ur
e
:AnI
ns
i
deLOOK:
Pe
ps
i
CoTr
i
e
st
oCr
e
a
t
eaNe
w Ca
t
e
gor
yofDr
i
nkst
ha
tPr
omi
s
e
sEne
r
gyand
He
al
t
hBe
ne
fit
s
78)I
ft
hede
mandf
orapr
oduc
ti
nc
r
e
as
e
sandt
hes
uppl
yoft
hes
amepr
oduc
tde
c
r
e
as
e
s
,t
hee
qui
l
i
br
i
um
pr
i
c
ewi
l
li
nc
r
e
as
e
.
Ans
we
r
:TRUE
Di
ff:
3 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
79)Ast
henumbe
roffir
msi
namar
ke
ti
nc
r
e
as
e
s
,t
hes
uppl
yc
ur
vewi
l
ls
hi
f
tt
ot
hel
e
f
tandt
he
e
qui
l
i
br
i
um pr
i
c
ewi
l
lr
i
s
e
.
Ans
we
r
:F
ALSE
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
96
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80)I
ft
hepopul
a
t
i
oni
nc
r
e
as
e
sandi
nputpr
i
c
e
si
nc
r
e
as
e
,t
hee
qui
l
i
br
i
um pr
i
c
eofapr
oduc
twi
l
l
de
fini
t
e
l
yi
nc
r
e
as
e
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
81)I
ft
hede
mandf
orapr
oduc
tde
c
r
e
as
e
sandt
hes
uppl
yoft
hepr
oduc
tdoe
snotc
hange
,e
qui
l
i
br
i
um
pr
i
c
eande
qui
l
i
br
i
um quant
i
t
ywi
l
lbot
hi
nc
r
e
as
e
.
Ans
we
r
:TRUE
Di
ff:
2 Pa
geRe
f
:
78
Topi
c
:Shi
f
t
si
nDe
mand
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
82)Di
s
c
us
st
hec
or
r
e
c
tandi
nc
or
r
e
c
te
c
onomi
canal
ys
i
si
nt
hef
ol
l
owi
ngs
t
a
t
e
me
nt
s
.
"
I
fadi
s
e
as
eki
l
l
sal
ar
genumbe
roft
ur
ke
ys
,t
hes
uppl
yoft
ur
ke
yswi
l
lde
c
r
e
as
e
.Thi
swi
l
lr
e
s
ul
ti
na
pr
i
c
ei
nc
r
e
as
e
,whi
c
hwi
l
lt
he
nc
aus
et
hes
uppl
yoft
ur
ke
yst
oi
nc
r
e
as
e
.
"
Ans
we
r
:Thes
uppl
yoft
ur
ke
yswi
l
lde
c
r
e
as
e
,r
e
s
ul
t
i
ngi
nahi
ghe
re
qui
l
i
br
i
um pr
i
c
eandal
owe
r
e
qui
l
i
br
i
um quant
i
t
y
,butt
hehi
ghe
rpr
i
c
ewi
l
lnots
hi
f
tt
hes
uppl
yc
ur
vef
ort
ur
ke
ys
.
Di
ff:
2 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
83)I
fpi
l
ot
sandfli
ghta
t
t
e
ndant
sa
gr
e
et
owa
geandbe
ne
fitr
e
duc
t
i
onsi
nt
hewakeoffinanc
i
al
di
ffic
ul
t
i
e
si
nt
heai
r
l
i
nei
ndus
t
r
y
,wha
ti
mpac
twoul
dt
hi
sha
veont
hes
uppl
yandde
mandi
nt
hemar
ke
t
f
orai
r
l
i
nes
e
r
vi
c
e
,as
s
umi
ngnoot
he
rc
hange
st
akepl
ac
ei
nt
hi
smar
ke
t
?
Ans
we
r
:Ar
e
duc
t
i
onofwa
ge
sandbe
ne
fit
swi
l
ls
hi
f
tt
hes
uppl
yc
ur
vet
ot
her
i
ght
,butwi
l
lnots
hi
f
tt
he
de
mandc
ur
ve
.Thi
swi
l
lde
c
r
e
as
et
hee
qui
l
i
br
i
um pr
i
c
eandi
nc
r
e
as
et
hee
qui
l
i
br
i
um quant
i
t
yi
nt
he
mar
ke
tf
orai
r
l
i
nes
e
r
vi
c
e
.
Di
ff:
3 Pa
geRe
f
:
77
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
97
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84)At
l
ant
i
cs
al
moni
sani
nc
r
e
as
i
ngl
ypopul
ardi
s
h.I
ti
sal
s
oi
nc
r
e
as
i
ngl
ypr
oduc
e
dus
i
ngaquac
ul
t
ur
e
(
fis
hf
ar
mi
ng)onCanada'
se
as
tc
oas
t
.I
fahur
r
i
c
anede
s
t
r
oysaquac
ul
t
ur
ef
ac
i
l
i
t
i
e
s
,how wi
l
lt
hi
sa
ffe
c
t
t
hee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yofAt
l
ant
i
cs
al
mon?
Ans
we
r
:Thes
uppl
yc
ur
vef
orAt
l
ant
i
cs
al
monwoul
ds
hi
f
tt
ot
hel
e
f
t
,r
e
s
ul
t
i
ngi
nahi
ghe
re
qui
l
i
br
i
um
pr
i
c
eandl
owe
re
qui
l
i
br
i
um quant
i
t
y
.
Di
ff:
2 Pa
geRe
f
:
85
Topi
c
:Shi
f
t
si
nSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Re
fle
c
t
i
veThi
nki
ng
85)I
ne
ac
hoft
hef
ol
l
owi
ngs
i
t
ua
t
i
ons
,l
i
s
twha
twoul
dhappe
nt
ot
hee
qui
l
i
br
i
um pr
i
c
eandt
he
e
qui
l
i
br
i
um quant
i
t
yf
orapar
t
i
c
ul
arpr
oduc
tt
ha
ti
sani
nf
e
r
i
orgood.
a
. Popul
a
t
i
onde
c
r
e
as
e
sandpr
oduc
t
i
vi
t
yi
nc
r
e
as
e
s
.
b. I
nc
omei
nc
r
e
as
e
sandt
hepr
i
c
eofi
nput
si
nc
r
e
as
e
.
c
. Thenumbe
roffir
msi
nt
hemar
ke
tde
c
r
e
as
e
sandi
nc
omede
c
r
e
as
e
s
.
d. Cons
ume
rpr
e
f
e
r
e
nc
ede
c
r
e
as
e
sandt
hepr
i
c
eofac
ompl
e
me
nti
nc
r
e
as
e
s
.
e
. Thepr
i
c
eofas
ubs
t
i
t
ut
ei
nc
ons
umpt
i
oni
nc
r
e
as
e
sandt
hepr
i
c
eofas
ubs
t
i
t
ut
ei
npr
oduc
t
i
on
i
nc
r
e
as
e
s
.
Ans
we
r
:
a
.Pr
i
c
ede
c
r
e
as
e
s
;quant
i
t
yma
yi
nc
r
e
as
eorde
c
r
e
as
e
.
b.Quant
i
t
yde
c
r
e
as
e
s
;pr
i
c
ema
yi
nc
r
e
as
eorde
c
r
e
as
e
.
c
.Pr
i
c
ei
nc
r
e
as
e
s
;quant
i
t
yma
yi
nc
r
e
as
eorde
c
r
e
as
e
.
d.Pr
i
c
ede
c
r
e
as
e
s
;quant
i
t
yde
c
r
e
as
e
s
.
e
.Pr
i
c
ei
nc
r
e
as
e
s
;quant
i
t
yma
yi
nc
r
e
as
eorde
c
r
e
as
e
.
Di
ff:
3 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
98
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86)Ac
c
or
di
ngt
ot
heAus
t
r
al
i
anWoolI
nnova
t
i
on,s
e
ve
r
edr
oughtc
ondi
t
i
onsi
nAus
t
r
al
i
ac
ont
r
i
but
e
dt
o
t
hel
owe
s
tl
e
ve
lofwoolpr
oduc
t
i
oni
n50ye
ar
s
.Thi
sr
e
c
or
dl
ow pr
oduc
t
i
onhasdr
i
ve
nuppr
i
c
e
ss
har
pl
y
i
nAus
t
r
al
i
anwoolmar
ke
t
s
.Me
anwhi
l
e
,t
hepr
i
c
eofr
a
wc
ot
t
oni
nc
r
e
as
e
ds
i
gni
fic
ant
l
yf
ort
hefir
s
tt
i
me
i
nmanyye
ar
s
.
a
. I
l
l
us
t
r
a
t
et
he
s
eobs
e
r
va
t
i
onswi
t
honede
mandands
uppl
ygr
aphf
ort
hemar
ke
tf
orAus
t
r
al
i
anwool
andanot
he
rde
mandands
uppl
ygr
aphf
orr
a
wc
ot
t
on.
b. Makes
ur
et
ha
tyourgr
aphsc
l
e
ar
l
ys
how (
1)t
hei
ni
t
i
ale
qui
l
i
br
i
um be
f
or
et
hede
c
r
e
as
ei
nt
hes
uppl
y
ofAus
t
r
al
i
anwooland(
2)t
hefinale
qui
l
i
br
i
um.
c
. Us
ear
r
owst
oi
ndi
c
a
t
eanys
hi
f
t
si
nt
hede
manda
nds
uppl
yc
ur
ve
sf
ore
ac
hmar
ke
t
.
d. Labe
lyourgr
aphsf
ul
l
yandwr
i
t
eane
xpl
ana
t
i
onofyourwor
k.
Ans
we
r
:a
,b
,andc
,s
e
et
hefigur
ebe
l
ow.
d. I
nt
heAus
t
r
al
i
anwoolmar
ke
t
,t
hes
uppl
yc
ur
ves
hi
f
t
st
ot
hel
e
f
tasar
e
s
ul
toft
hedr
ought
.Thi
s
l
e
adst
oani
nc
r
e
as
ei
nt
hee
qui
l
i
br
i
um pr
i
c
eofwoolandade
c
r
e
as
ei
nt
hee
qui
l
i
br
i
um quant
i
t
y
.The
hi
ghe
rpr
i
c
eofwoolc
aus
e
sbuye
r
st
os
ubs
t
i
t
ut
ec
ot
t
onf
orwool
,t
he
r
e
byi
nc
r
e
as
i
ngt
hede
mandf
or
c
ot
t
on.I
nt
hec
ot
t
onmar
ke
t
,t
hede
mandc
ur
vef
orc
ot
t
onmove
st
ot
her
i
ghtal
ongagi
ve
ns
uppl
yc
ur
ve
,
r
e
s
ul
t
i
ngi
nahi
ghe
re
qui
l
i
br
i
um pr
i
c
eandhi
ghe
re
qui
l
i
br
i
um quant
i
t
yofc
ot
t
on.
Di
ff:
3 Pa
geRe
f
:
7779
Topi
c
:Shi
f
t
si
nDe
mandandSuppl
y
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
99
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3.5 Appendix: Explain how supply and demand function in competitive markets
1)Thef
ol
l
owi
nge
qua
t
i
onsr
e
pr
e
s
e
ntt
hede
mandands
uppl
yf
orbi
r
df
e
e
de
r
s
.
QD=35-P
QS=5+3P
Wha
ti
st
hee
qui
l
i
br
i
um pr
i
c
e(
P)andquant
i
t
y(
Q -i
nt
hous
ands
)ofbi
r
df
e
e
de
r
s
?
A)P=$10;Q=25t
hous
and
B)P=$35;Q =20t
hous
and
C)P=$20;Q =20t
hous
and
D)P=$5;Q=30t
hous
and
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
9092
Topi
c
:De
mandandSuppl
yEqua
t
i
ons
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
2)I
ft
hepr
i
c
eofgar
l
i
ci
sr
e
pr
e
s
e
nt
e
dbyt
hee
qua
t
i
onP=25-QD,t
he
nt
hec
or
r
e
s
pondi
ngquant
i
t
yof
gar
l
i
cde
mande
di
sr
e
pr
e
s
e
nt
e
dbyt
hee
qua
t
i
on
A)QD=P-25.
B)QD=P+25.
C)QD=25-P.
D)QD=25+P.
Ans
we
r
:C
Di
ff:
1 Pa
geRe
f
:
9092
Topi
c
:De
mandandSuppl
yEqua
t
i
ons
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
3)I
ft
hequant
i
t
yoft
ac
osde
mande
di
sr
e
pr
e
s
e
nt
e
dbyt
hee
qua
t
i
onQD =20-0.
5P
,
t
he
nt
he
c
or
r
e
s
pondi
ngpr
i
c
eoft
ac
osi
sr
e
pr
e
s
e
nt
e
dbyt
hee
qua
t
i
on
A)P=0.
5QD+10.
B)P=40-2QD.
C)P=10-2QD.
D)P=QD+40.
Ans
we
r
:B
Di
ff:
1 Pa
geRe
f
:
9092
Topi
c
:De
mandandSuppl
yEqua
t
i
ons
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
100
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4)I
ft
hequant
i
t
yofnai
lpol
i
s
hs
uppl
i
e
di
sr
e
pr
e
s
e
nt
e
dbyt
hee
qua
t
i
onQS=3+2P
,t
he
nt
he
c
or
r
e
s
pondi
ngpr
i
c
eofnai
lpol
i
s
hi
sr
e
pr
e
s
e
nt
e
dbyt
hee
qua
t
i
on
A)P=0.
5QS+1.
5.
B)P=2QS+6.
C)P=2QS-6.
D)P=1.
5-0.
5QS.
Ans
we
r
:A
Di
ff:
1 Pa
geRe
f
:
9092
Topi
c
:De
mandandSuppl
yEqua
t
i
ons
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
Tabl
e3.
5
Demand
P=50-QD
QD=50-P
Suppl
y
P=10+1/3QS
QS=3P-30
5)Re
f
e
rt
oTabl
e3.
5.Thee
qua
t
i
onsabovede
s
c
r
i
bet
hede
mandands
uppl
yf
orAuntMaud'
sPr
e
mi
um
HandLot
i
on.Wha
tar
et
hee
qui
l
i
br
i
um pr
i
c
eandqua
nt
i
t
y(
i
nt
hous
ands
)f
orAuntMaud'
sLot
i
on?
A)$20and30t
hous
and
B)$30and20t
hous
and
C)$60and30t
hous
and
D)$20and60t
hous
and
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
9092
Topi
c
:De
mandandSuppl
yEqua
t
i
ons
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o4:
Expl
ai
nhow s
uppl
yandde
mandf
unc
t
i
oni
nc
ompe
t
i
t
i
vemar
ke
t
s
AACSB:Anal
yt
i
cSki
l
l
s
6)Re
f
e
rt
oTabl
e3.
5.Thee
qua
t
i
onsabovede
s
c
r
i
bet
hede
mandands
uppl
yf
orAuntMaud'
sPr
e
mi
um
HandLot
i
on.Thee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yf
orAuntMaud'
sl
ot
i
onar
e$20and30t
hous
anduni
t
s
.
Wha
ti
st
heval
ueofc
ons
ume
rs
ur
pl
us
?
A)$300t
hous
and
B)$450t
hous
and
C)$900t
hous
and
D)$1,
500t
hous
and
Ans
we
r
:B
Di
ff:
3 Pa
geRe
f
:
9092
Topi
c
:Cal
c
ul
a
t
i
ngSur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o7:
Di
s
c
us
st
hee
ffe
c
t
sofc
ons
ume
randpr
oduc
e
rs
ur
pl
us
e
si
namar
ke
t
AACSB:Anal
yt
i
cSki
l
l
s
101
Copyright © 2018 Pearson Canada, Inc.
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lOMoARcPSD|9882954
7)Re
f
e
rt
oTabl
e3.
5.Thee
qua
t
i
onsabovede
s
c
r
i
bet
hede
mandands
uppl
yf
orAuntMaud'
sPr
e
mi
um
HandLot
i
on.Thee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yf
orAuntMaud'
sl
ot
i
onar
e$20and30t
hous
anduni
t
s
.
Wha
ti
st
heval
ueofpr
oduc
e
rs
ur
pl
us
?
A)$600t
hous
and
B)$300t
hous
and
C)$150t
hous
and
D)$30t
hous
and
Ans
we
r
:C
Di
ff:
3 Pa
geRe
f
:
9092
Topi
c
:Cal
c
ul
a
t
i
ngSur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o7:
Di
s
c
us
st
hee
ffe
c
t
sofc
ons
ume
randpr
oduc
e
rs
ur
pl
us
e
si
namar
ke
t
AACSB:Anal
yt
i
cSki
l
l
s
8)Re
f
e
rt
oTabl
e3.
5.Thee
qua
t
i
onsabovede
s
c
r
i
bet
hede
mandands
uppl
yf
orAuntMaud'
sPr
e
mi
um
HandLot
i
on.Thee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
yf
orAuntMaud'
sl
ot
i
onar
e$20and30t
hous
anduni
t
s
.
Wha
ti
st
heval
ueofe
c
onomi
cs
ur
pl
usi
nt
hi
smar
ke
t
?
A)$600t
hous
and
B)$1,
050t
hous
and
C)$1,
500t
hous
and
D)$2,
100t
hous
and
Ans
we
r
:A
Di
ff:
3 Pa
geRe
f
:
9092
Topi
c
:Cal
c
ul
a
t
i
ngSur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o7:
Di
s
c
us
st
hee
ffe
c
t
sofc
ons
ume
randpr
oduc
e
rs
ur
pl
us
e
si
namar
ke
t
AACSB:Anal
yt
i
cSki
l
l
s
9)Youar
egi
ve
nt
hef
ol
l
owi
ngmar
ke
tda
t
af
orVe
nusaut
omobi
l
e
si
nSa
t
ur
ni
a
.
De
mand: P=35,
000-0.
5Q
Suppl
y: P=8,
000+0.
25Q
whe
r
eP=Pr
i
c
eandQ =Quant
i
t
y
.
a
. Cal
c
ul
a
t
et
hee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
y
.
b. Cal
c
ul
a
t
et
hec
ons
ume
rs
ur
pl
usi
nt
hi
smar
ke
t
.
c
. Cal
c
ul
a
t
et
hepr
oduc
e
rs
ur
pl
usi
nt
hi
smar
ke
t
.
Ans
we
r
:
a
.Quant
i
t
y=36,
000:{
35,
000-0.
5Q =8,
000+0.
25Q.
;27,
000=0.
75Q;Q=36,
000.
}
Pr
i
c
e=$17,
000:{
P=35,
000-0.
5(
36,
000)
;P=35,
000-18,
000;P=$17,
000.
}
b.Cons
ume
rs
ur
pl
us=(
0.
5)
(
$35,
000-$17,
000)×36
,
000=$324mi
l
l
i
on
c
.Pr
oduc
e
rSur
pl
us=(
0.
5)
(
17,
000-8,
000)×36,
000=$162mi
l
l
i
on.
Di
ff:
3 Pa
geRe
f
:
9092
Topi
c
:Cal
c
ul
a
t
i
ngSur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o7:
Di
s
c
us
st
hee
ffe
c
t
sofc
ons
ume
randpr
oduc
e
rs
ur
pl
us
e
si
namar
ke
t
AACSB:Anal
yt
i
cSki
l
l
s
102
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10)Thede
mandands
uppl
ye
qua
t
i
onsf
ort
hepe
ac
hmar
ke
tar
e
:
De
mand: P=24-0.
5Q
Suppl
y: P=6+2.
5Q
whe
r
eP=pr
i
c
epe
rbus
he
l
,andQ =quant
i
t
y(
i
nt
hous
ands
)
.
a
. Cal
c
ul
a
t
et
hee
qui
l
i
br
i
um pr
i
c
eandquant
i
t
y
.
b. Suppos
et
hegove
r
nme
ntguar
ant
e
e
dpr
oduc
e
r
sapr
i
c
eof$24pe
rbus
he
l
.Wha
twoul
dbet
hee
ffe
c
t
onquant
i
t
ys
uppl
i
e
d?Pr
ovi
deanume
r
i
c
alval
ue
.
c
. Byhow muc
hwoul
dt
he$24pr
i
c
ec
hanget
hequant
i
t
yofpe
ac
he
sde
mande
d?Pr
ovi
de
anume
r
i
c
alval
ue
.
d. Woul
dt
he
r
ebeas
hor
t
a
geors
ur
pl
usofpe
ac
he
s
?
e
. Wha
ti
st
hes
i
zeoft
hi
ss
hor
t
a
geors
ur
pl
us
?Pr
ovi
deanume
r
i
c
alval
ue
.
Ans
we
r
:
a
. Quant
i
t
y=10t
hous
andbus
he
l
s
:{
24-0.
5Q =6+2.
5Q;30=3Q;Q=10}
Pr
i
c
e=$19:{
P=24-0.
5(
10)
;P=24-5;P=$19}
b. Quant
i
t
ys
uppl
i
e
dwoul
di
nc
r
e
as
et
o12t
hous
andbus
he
l
s
:{
24=6+2.
5Q;30=2.
5Q;Q =12}
c
. Quant
i
t
yde
mande
dwoul
df
al
lt
oze
r
obus
he
l
s
:{
24=24-0.
5Q;0=0.
5Q;Q =0}
d. The
r
ewoul
dbeas
ur
pl
us
.
e
. Sur
pl
us=12,
000-0=12t
hous
andbus
he
l
s
.
Di
ff:
2 Pa
geRe
f
:
9092
Topi
c
:Cal
c
ul
a
t
i
ngSur
pl
us
2CE:1
CE
Le
ar
ni
ngOut
c
ome
:Mi
c
r
o7:
Di
s
c
us
st
hee
ffe
c
t
sofc
ons
ume
randpr
oduc
e
rs
ur
pl
us
e
si
namar
ke
t
AACSB:Anal
yt
i
cSki
l
l
s
103
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