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Video Discussion 1 – Opportunity Cost
Before completing this graded discussion. You should have full understanding of the concepts below, if you don’t please use the textbook and review them first.
Opportunity Cost, Scarcity, Production Efficiency, Allocative Efficiency, Incentives, Human Capital, Specialization, and Comparative Advantage
Instructions and Steps:
1. View the following 3 TED Talks (video presentations). As you watch the videos, take notes of any relevant information.
Inside the mind of a master procrastinator | Tim Urban
The habits of highly boring people | Chris Sauve
The Art of Letting Go | The Minimalists
2. Decide which of the 3 TED Talks best responds to this question;
How can identifying your opportunity costs, help you make better choices?
3. Produce a Post of at least 300 words in which you explain your position. Your post must contain at least the following elements:
It must state the title and the author of the chosen TED Talk.
It must state the reason why believe that TED Talk best answers the question.
It must explicitly explain the relationship, connection, or link between the ideas provided in the TED Talk and the concept of Opportunity Cost.
Your grade will be based on how clear, precise, accurate, relevant and logical your post is and if it was turned in on time. Things such as the name of the video, the name of the presenter, your name, the questions, citation, and date do not count towards the word count.
You must start a thread before you can read and reply to other threads
 
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Microeconomics

I’m trying to learn for my Economics class and I’m stuck. Can you help?

Trade Restrictions – Tariffs

Directions: Answer the questions below based on the graph.

1.How many units will the domestic firms produce without trade?

2.How many units will the domestic firms produce without a tariff if the foreign producer can sell the product at a $4 price?

3.How many units will the foreign firms produce / sell if a government tariff of $2.00 is imposed on foreign goods?

4.What will be the total government revenues if a tariff of $2.00 is imposed on foreign goods?

5.What will be the total deadweight losses if a tariff of $2.00 is imposed on foreign goods?

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