1.in a short concsie statment relate scarcity, trade-offs, and opportunty cost.
2. List and describe the variables , other than price, thet cause a shift in the supply curve.
3. there are two conitions thet are required for a good yo be a pure public good, If both conditions are present, why won't a private firm provide them?
4. Describe the diffrenece between the short-run and the long-run.
5. Relate the marginal physical product (MPP) to the shape of the marginal cost (MC) curve. < this question needed to be answred by graphing
read the oil article above then answer the following questions by explaining and garphing using supply and demand.
1.describe the olive oil market pre-2015 and that what the change to the market is post -2015.(garph)
2.wha will happen to the market for the other oils which are close substitutes? (garph)