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Economics Lecture Seven (view source)

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3. We are going to have our midterm in two weeks. Think of a question that you would like to see answered or clarified at the next class.

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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?

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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.

5. Explain the difference between total cost, average cost, and marginal cost.

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