Elaborate on the Technological Achievements of China from the Qin

question 2

Essay

Elaborate on the technological achievements of China from the Qin through the Tang Dynasty.

Determine the relationship between fixed costs, variable costs, average costs, and their behaviors over the output level.

Understand the concept of opportunity costs and how they are composed of both explicit and implicit costs.

Differentiate between explicit costs and implicit costs, including examples of each.

Calculate and differentiate between accounting profits and economic profits.