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Why do points on a utility possibility curve represent efficient allocations of resources? Why must the utility possibility curve be downward sloping? Draw a utility possibility curve, and show how it is possible to achieve efficiency by moving from a point within the curve and the axes to a point on the curve. Create a graph on a spreadsheet program
Assume that before the price of X2 fell, Fred had exchanged all of his inheritance of X1 and X2 for money, planning to use the money to finance his purchases later, explain how much of X1 & X2 will Fred consume after P2 fell to 1.
Assuming that the marginal cost is zero to provide the rides to those in attendance, what is the best pay-per-ride price
Explain how you think these trends have affected our overall economic well-being (think unemployment, wage rates, etc.) in recent years.
Elucidate why the boundaries of the firms that group members currently work for are dawn at their current limits, and consider whether there are opportunities to increase the returns generated.
Illustrate what is the marginal cost of the first worker. Based on your knowledge of marginal analysis, how many workers should you hire.
Illustrate what are the most important determinants of the demand function that a firm faces for the commodity it sells.
Illustrate distinguish between the functional distribution and personal distribution of income.
What happens to the profits of boat makers in short run. Illustrate what happens to the number of boat makers in the long run.
Compute the upper also lower limits within which marginal cost may vary without affecting the profit maximizing output or the price.
Calculate the price and quantity associated with the perfectly competitive outcome.
What value of y survives as a solution if all firms are competing for high ability workers.
Based on your research, write summary on what you have learned about this country & apposes economy
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