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It's a Matter of Power
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Students examine tradeoffs and profit- maximization decisions in the case study of Kaiser Aluminum, which decided to shut down aluminum production in favor of reselling electricity.
Grades:
Concepts:
- Cost/Benefit Analysis
- Decision Making
- Incentive
- Opportunity Cost
- Profit Motive
- Trade-off
Standards:
- Economics 2: Marginal Cost/Benefit
- Economics 3: Allocation of Goods and Services
- Economics 4: Role of Incentives
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