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Be sure to watch the recording related to this topic. Share your thoughts on the following questions. Assignment No. 1 Final Term Basic Microeconomics.
1. What happens if your allowance increases from P 150.00 / day to P 250.00 lday. Would you change your taste and preference, or would you stick with your old consumption patterns?
2. Why do some people buy expensive branded things even if they cannot afford them?
3. Can we apply the law of diminishing marginal utility to money? Explain your answer.
4. Explain the optimum combination from the Consumer's behaviortheory.
How do firms contribute to the efficiency of the market economy in ways that 'networks of independent contractors' do not? How are the boundaries of the firm best established?
Net exports and the IS curve: Consider the way in which net exports depend on the real exchange rate. Does the dependence of net exports on the real exchange.
Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook your own dinner, or it could be a decision to quit your job and go back..
What type of unemployment is the quote referring to? What may happen if workers become discouraged?
Calculate the percentage decrease in quantity due to 10% increase in price - what would be the change in the demand for college and university education?
Discuss your thoughts and ideas about using FDI as a mode of entry into a foreign market as compared to other methods such as exporting, licensing, etc.
Frank spends $75 on 10 magazines and 25 newspapers. The magazines cost $5 each and the newspapers cost $2.50 each. Suppose that his MU from the final magazine is 10 utils while his MU from the final newspaper is also 10 utils. According to the utilit..
How much have institutions determined the pace and nature of technological advancement?
When decentralized governmental units operate independently and compete with each other, governments will attract residents and expand their tax base when
If not, what linear functions of these parameters, the estimable func- tions, can you estimate? Show the necessary calculations.
the typical firm in a perfectly competitive market manufacturing an appliance part has long-run total cost of tc
Analyze marketing factors that can contribute the success or failure of a product for a company such as Vanda-Laye. Evaluate the role capital budgeting.
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