micro econ and essay

Part #1 

Use short statement to answer the following. 

1.in a short concsie statment relate scarcity, trade-offs, and opportunty cost. 

2. List and describe the variables , other than price, thet cause a shift in the supply curve. 

3. there are two conitions thet are required for a good yo be a pure public good, If both conditions are present, why won't a private firm provide them? 

4. Describe the diffrenece between the short-run and the long-run.

5. Relate the marginal physical product (MPP) to the shape of the marginal cost (MC) curve. < this question needed to be answred by graphing

Part #2 http://money.cnn.com/2016/03/09/news/olive-oil-shortage-price/

read the oil article above then answer the following questions by explaining and garphing using supply and demand.

1.describe the olive oil market pre-2015 and that what the change to the market is post -2015.(garph)

2.wha will happen to the market for the other oils which are close substitutes? (garph)