Unit 1: Markets are Efficient, Except . . . Intro to Microeconomics

Lesson 1d: Making Choices: Production Possibilities Curve and Benefit Cost Analysis

Assignments: Readings

pp. 10-18, (19th, 11-20), "Society's Economizing Problem", "Production Possibilities Model", "Optimal Allocation" especially Fig 1.3, "The Economics of War" (box), "Unemployment, Growth, and the Future" pp. 6-7, (19th, 5), "Marginal Analysis: Comparing Benefits and Costs" Drivers with airbags may take more risks Lecture Outline

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