Reference no: EM132875865
1. Outline four assumptions underlying consumer equilibrium
2. Examine five factors that are likely to influence the cost behavior of a firm
3. With the aid of appropriate diagrams describe three properties of indifference curves
4. Explain four applications of indifference curve analysis in economic decision making
5. State the law of diminishing marginal utility
6. What is an indifference curve
7. Explain the main characteristics of indifference curves
8. Briefly explain two exceptions to the definition of an indifference curve
9. Explain any four uses of indifference curve analysis
10. Analyze six factors that influence the cost behavior of a firm
11. Outline four factors that determine the supply of labour in an economy
12. Explain the difference between 'real' and 'pecuniary' economies of scale of a firm
13. State six assumptions of the marginal productivity theory of wage determination
14. Enumerate six barriers to occupation mobility of labour
15. Explain five causes of the u-shaped long run average cost curves of a firm
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