Application of Microeconomic Principles

  1. review the Ch01.ppt and Ch02.ppt PowerPoint files.
  2. View the media Sony Stock Stumbles(https://www.cnbc.com/2020/09/15/sony-playstation-5-production-cut-report.html).
  3. answer the following questions in the form of a paragraph:
    1. Explain the opportunity cost Sony faces and apply the concept of opportunity cost to the tradeoffs we make.
    2. Explain when coping with scarcity during the current CO-19 pandemic and the tradeoffs we all must make.
  4. The answer should be 400 to 450 words in length and include two academic sources that are properly cited.

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