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• Write a 1,750- to 2,450-word word paper in which you decide whether to purchase a house.
o Describe which principles of economics directly relate to your purchasing decision.
o Compare the marginal benefits and the marginal costs associated with your purchasing decision.
o Explain how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with that decision.
o Consider the roles of the domestic economy and international trade in your assessment of the strength of the economy.
o Determine what situations or conditions could have led you to make a different decision.
• Assume for this project that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
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The dropout rate of minority also international students at U.S. colleges also universities are higher than it is for white American students.
Explain which of the two classmates would you prefer as a partner. Would he also want you as a partner.
Consider the following short-run production function: q = 5L2 - 1/3L3. Illustrate at what level of L do diminishing marginal returns begin. At what level of L do diminishing returns begin.
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