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SUMMARY OF THEORY OF PRODUCTION
1. Mrs Munyarryun, 67 years, has been retired from her work for two years. She rings for advice about urinary incontinence, a problem she has experienced over the last 6 months. Wh
Is there any relation between inflation and unemployment? The Phillips Curve was a relationship among unemployment and inflation discovered by Professor A.W. Phillips. He foun
what are criteria and conditions for pareto optimacy
illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination
What is the difference between houehold and consumers?
How would you construct an estimate of marginal cost, & ?C(w, y) , in each period? ?Y
1. How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the difference
The Case: In Pakistan, sugarcane, wheat, rice and cotton accounted for 90% of the value added in crops and 6% of GDP in the last fiscal year but the average yield of these crops is
d
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