1. Assume the price of an MP3 player decreases from the $60 to $40. Determine the percentage change in price by using the midpoint approach.
2. Determine a nation that forms the soccer balls and baseball mitts. The possible combinations of the two products are 0, 2, 4, 6, 8 of baseball mitts when 20,24,18,10 and 0 soccer ball produced. Assume the current combination of two products is 4 baseball mitts and 18 soccer balls. Determine the opportunity cost of one more baseball mitts? Describe the opportunity cost of one more soccer balls?