Q1) Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms...

Q1) Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of Production Possibility Curve. ie.) the shapes of PPC and the main assumption behind these two. (2 points)

Q2) Discuss the differences between macroeconomics and microeconomics.(2 points)

Q3) Compare "Change in Demand " with " Change in Quantity demanded" . Discuss causes and shape of curve.(2 points).

Q4) At what price does Shortage and Surplus occur ? Once a market has shortage and Surplus, then what happens to the market price? (2 points)

Q5) If an increase in Demand is larger than an increase in Supply, discuss equilibrium price and output sales. ( 2 points)

Expert Solution

Rahul Sunny answered 1 year ago

Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of...

Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of Production Possibilities Curve.Ie.) the shapes of PPC and the main assumption behind these two.

Illustrate and discuss the difference between constant, Increasing and decreasing returns to scale.

explain fully the dufference between increasing opportunity cost and the law of diminishing returns

Suppose you are choosing between milk and cookies. If the opportunity cost of cookies in terms...

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Research intranet and internet. Then, discuss the differences between intranets and the internet in terms of...

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Q1. Clearly distinguish between economics and managerial economics Q2. Define the concept of opportunity cost. What...

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