Help For Your Introductory Economics Course

To help you navigate week 1 I have complied a list of extra resources for you to peruse for week 1 or ECO-201. For assistance with the first discussion assignment: Video Introducing Discussion 1 Opportunity Cost Clip on YouTube Opportunity Cost Overview Opportunity Cost – And Pretty Little Mistakes For assistance with the first homework assignment (found within MyEconLab): YouTube Clip Introduction to the Production Possibilities Frontier PPF Sample Problem Opportunity Cost Sample Problem For help with selecting a firm for your final project (this same firm will be used for all milestone assignments): use these guidelines

Consider the production possibilities frontier (PPF) that shows the trade-off between the production of oranges and grapefruit. Suppose there has been a disease in the area that kills citrus trees. Make a drawing to show what the PPF would look like before (PPF1) and after the citrus tree disease (PPF2). The production possibilities frontier (PPF) is a curve that shows the maximum attainable combinations of two products that may be produced with available resources and current technology. The point where the curve touches the y-axis (the vertical axis) indicates how many oranges could be produced if all of the focus was on producing oranges and none of the focus was on producing grapefruit. The point on the x-axis (the horizontal axis) indicates how many grapefruit could be produced if zero oranges were produced. All the points along the curve indicate different combinations of orange and grapefruit that could be produced efficiently. Points outside the curve are not attainable due t...