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What are the similarities between a consumer budget

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Reference no: EM132586745

1. Could a nation be producing in a way that is allocatively efficient, but productively inefficient?

2. What are the similarities between a consumer's budget constraint and society's production possibilities frontier, not just graphically but analytically?

3. Individuals may not act in the rational, calculating way described by the economic model of decision making, measuring utility and costs at the margin, but can you make a case that they behave approximately that way?

4. Would a research study on the effects of soft drink consumption on children's cognitive development be considered a positive or normative statement?

Reference no: EM132586745

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