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GEL-1.02: Demonstrate college-level communication through the composition of original materials in Standard English.
PC-4.1: Assess the value of multiculturalism and diversity in a global environment.
In the reading, learning activities, and videos related to the supply and demand analysis course outcome, you have learned how to calculate marginal opportunity costs in a simplified production possibility frontier curve to determine who has the comparative advantage as it relates to trade. You also learned how to calculate the equilibrium price and quantity in a perfectly competitive market and looked at how that equilibrium price and quantity changes when additional demand influences the market, as well as seeing how the original group of consumers are affected by these new consumers entering the market.
Directions:
In the Reading, Learning Activities, and videos, you have learned how to calculate marginal opportunity costs in a simplified production possibility frontier curve to determine who has the comparative advantage as it relates to trade. You also learned how to calculate the equilibrium price and quantity in a perfectly competitive market and looked at how that equilibrium price and quantity changes when additional demand influences the market, as well as seeing how the original group of consumers are affected by these new consumers entering the market.
