You should be able to answer each of the following questions ina just a few sentences. Graphs or figures might be good to includeif they help you to make a better argument or to explain youranswer more clearly.
3. Grandma promises to sneak you some bourbon while your parentsare cleaning up the Thanksgiving dishes, but only if you canimpress her with something you learned in your economics class.Carefully explain to Grandma why the short run average total costcurve is U-shaped so that the two of you can sip a little Maker’stogether.
4. In order to improve your chances of matching with someone,you decide to update your online dating profile. Specifically, youdecide that to impress potential partners you will show off whatyou know about monopolies and marginal revenue. Draft out anexplanation as to what marginal revenue is for the monopolist sothat you can have them all wanting to swipe right!
