ECN 601 Week 1 Discussions: DQ 1 plus DQ 2

(ECN 601 Week 1 Discussions)

ECN-601 Week 1 Discussion Question 1

Explain why the consideration of opportunity costs may be very relevant to a firm. How can opportunity costs affect a business decision? Use an example to support your answer.

ECN 601 Week 1 Discussion Question 2

Think about a good or service for which you believe there has been a shift in demand or supply. Explain the reasons behind the shift and how that has influenced the equilibrium price.