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Homework answers / question archive / 1) Pick two of the following terms

1) Pick two of the following terms

Economics

1) Pick two of the following terms. Answers should include meaning of the terms, explain their significance, and include appropriate illustrations.

a. Cash costs vs. book costs

b. Consumer surplus

c. Depreciation

2. Break-even analysis and sensitivity analysis are two ways to deal with uncertainty. Show how they differ and identify their respective advantages, using examples to illustrate your answer.

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