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.

Sandwiches and Elasticity Context-Rich Problem part of Examples
Students are asked to apply what they learned in class to a real life scenario question.

Airline Revenues: Supply and Demand (Context Rich Problem) part of Examples
An exercise that has students translate an economic event described in the newspaper into representation in a supply and demand diagram

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.

Tutoring Service and Price Discrimination Context-Rich Problem part of Examples
Students are asked to apply what they learned in class to a real life scenario question.

Long-Run Economic Growth: Context Rich Problem part of Examples
Students are asked to apply what they learned in class to a real life scenario question.

Increase in Minimum Wage: Perplexing Result? (Context Rich Problem) part of Examples
An exercise that has students translate an economic event described in the newspaper into representation in a supply and demand diagram

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.

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.