Consider a simple person who consumes only two goods, food

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Reference no: EM133401744

Questions:

Q1 Consider a simple person who consumes only two goods, Food, and Clothes. Represent the income effects and substitution effects in the indifference diagram.

Q2: Please tell us your example where the marginal return to labor diminishes. (Try to use your own examples, such as homework project, etc. )

Q3: Please tell us your idea why marginal return to labor diminishes. (Try to use your own examples, such as homework project, etc. )

Q4: The following are the two largest startup companies that went through an acceleration program Ycombimator. Explain which companies are likely to have benefitted from the network externalities, and why.

Reference no: EM133401744

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