Week 1

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ECO 365 - Week 1 - DQ1 (2 Responses)
DQ 1. What is economics?  Do not repeat what the text says; put it in your own words.  Why do we care?  How will understanding economics help you in your personal life, and in your busi..
ECO 365 - Week 1 - DQ2 (2 Responses)
DQ 2. What is the difference between a movement along and shift of the demand curve? Show the impact on the equilibrium price and quantity that result from; (1) an increase in demand (2) an inc..
ECO 365 - Week 1 - DQ3 (2 Responses)
DQ 3. What is the definition of price elasticity of demand? Explain the relationship between price elasticity and total revenue? How does price elasticity of demand affect a firm’s pricing decisions? ..