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Economics Lecture Seven (view source)

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3.  What concept in economics have you had the most difficulty understanding so far?  Describe what you did not, or do not, understand about it.
 
3.  What concept in economics have you had the most difficulty understanding so far?  Describe what you did not, or do not, understand about it.
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4.  Do you think the converse of Gresham's Law is true with respect to speech and conversation, such that good speech or conversation (such as discussing the Bible) drives out bad?  Explain.
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4.  Do you think the converse of Gresham's Law is true with respect to speech and conversation.  Does good speech or conversation (such as discussing the Bible) drive out bad speech?  Explain.
    
5.  Explain the difference between total cost, average cost, and marginal cost.
 
5.  Explain the difference between total cost, average cost, and marginal cost.
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