## he Econville News reports that drinking at least 8 ounces of milk a day increases bone density 10% over a life time. Provide a brief written description/explanation of the effect of this news on the equilibrium price and quantity of milk

ECO110HA: Economics for Life

Midterm Exam

In this module you will complete the Midterm Exam. This exam covers materials from the first half of the course. For this exam, you will download the exam word document from the course menu. The questions should be written succinctly, using the proper terminology, while showing and explaining all work.

Submit the Midterm Exam to the Dropbox no later than Sunday 11:59 PM EST/EDT. (This Dropbox basket is linked to Turnitin.)

1. You have made the decision to pursue higher education. Describe the economist’s view of how a decision like that is made. Using marginal analysis, make sure you evaluate the “rationality” of the decision and explain why the following statement is irrational: “Higher education is priceless, so everyone should pursue a degree no matter the cost.”

1. Recall your readings about Shaq moving furniture and playing basketball. Use both absolute and comparative advantage to explain the following: Suppose you have one partner for a school project requiring both math and writing skills. If you are better than your partner at both math and writing, does this mean you should be responsible for both parts? Use comparative and absolute advantage to explain.

1. The Econville News reports the invention of a machine that allows cows to milk themselves. Provide a brief written description/explanation of the effect of this news on the equilibrium price and quantity of milk.

1. The Econville News reports that drinking at least 8 ounces of milk a day increases bone density 10% over a life time. Provide a brief written description/explanation of the effect of this news on the equilibrium price and quantity of milk.

1. Consider a time in your life when you have benefited from an externality and a time when you have suffered from an externality. Make sure to clearly describe your role and the type of externality. What is your opinion about the role of government in each of these situations?

### Clarify the role of each legally mandated attendee on the Individualized Education Program team

This discussion assesses your ability to clarify the role of each legally mandated attendee on the Individualized Education Program team. This assessment also supports your achievement of Course Learning Outcome….

### Describe the performance of “Salt Peanuts” provided in your Module 3 Playlist

n 100 words or more, describe the performance of “Salt Peanuts” provided in your Module 3 Playlist. Being a live performance, there are certain characteristics that we don’t have in….

### Analyze the fixed and variable costs of a firm, how those costs have changed over time, and how those changes have impacted the firm’s overall health and sustainability

The purpose of this milestone is for students to explore the various costs their firm faces and to describe their firm’s market. Using the concepts and tools developed in Modules….