The authors describe two classroom exercises that can be used to reinforce undergraduate students' understanding of (1) production and cost concepts and (2) the concept of economic scarcity. In the first exercise, students use their experience in producing 'widgets' in a single variable input...

In recent years, considerable attention has been given to the role of legalized gambling in regional economic development. Evidence of the effectiveness of legalized gambling activities in causing economic growth has led to its expansion in the United States. This paper looks at the greyhound...