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Examples

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Choosing output quantity under perfect competition (Context Rich Problem) part of Examples
The problem presents students with information about price, average costs and marginal costs for a vegetable farm. To answer the questions, students must apply the P=MC decision rule for perfect competition.

Calculating real home prices using the CPI (Context Rich Problem) part of Examples
Students calculate real home values using nominal values and the Consumer Price Index.

Explicit and Implicit Costs of Education: Context Rich Problem part of Examples
Students are faced with advising a roommate about the costs and benefits of continuing with their education. Specifically, students are asked to apply the concepts of explicit and implicit costs to a real world scenario.

Perfect Competition: A Context Rich Problem part of Examples
Students find the profit-maximizing level of output for a perfectly competitive firm and check the shut-down condition for two different prices.

Imperfect Competition: Context-Rich Problem part of Examples
This context-rich problem helps students to apply the characteristics of imperfect competition to a real world setting.

Game Theory Context-Rich Problem part of Examples
This consists of a short essay to be written by students after watching the West Wing episode "Hartsfield's Landing." In it, students are asked to help a friend to understand the content of the show using the basic components of non-cooperative game theory and the prisoner's dilemma.

Marginal Analysis Context-Rich Problem part of Examples
In this problem, students consider the benefits of reduced tray usage in school cafeterias by comparing the cost savings of having to clean fewer trays against the opportunity cost of increased labor and energy costs to clean the cafeteria after meals.

Changes in Demand: Context Rich Problem part of Examples
Context Rich Problem on demand shifters and the implications of such a shift.

Excise Tax Incidence: Context Rich Problem part of Examples
Context Rich Problem using the concepts of excise tax incidence, elasticity of demand, and elasticity of supply. Students must determine which information is appropriate and which is extraneous to the problem.

Price Ceiling: Context Rich Problem part of Examples
context rich problem on price ceilings


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