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    GE273 Homework Week2

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    MrDiaz
    This document contains the answers to homework questions from a microeconomics class. For question 1.8, the answers are that point E is unattainable, points B,C,D are efficient as they maximize resources, and point A is inefficient as not all resources are used. Point B is identified as the best choice as capital goods have more long term growth potential. For question 3.7, the answers identify a household purchase as an example of product market demand, a firm's demand as an example of factor market demand, labor as supplying the factor market, and capital as supplying the factor market.

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    GE273 Homework Week2

    Uploaded by

    MrDiaz
    16 views1 page
    This document contains the answers to homework questions from a microeconomics class. For question 1.8, the answers are that point E is unattainable, points B,C,D are efficient as they maximize resources, and point A is inefficient as not all resources are used. Point B is identified as the best choice as capital goods have more long term growth potential. For question 3.7, the answers identify a household purchase as an example of product market demand, a firm's demand as an example of factor market demand, labor as supplying the factor market, and capital as supplying the factor market.

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    GE273 MicroEconomics

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    This document contains the answers to homework questions from a microeconomics class. For question 1.8, the answers are that point E is unattainable, points B,C,D are efficient as they maximize resources, and point A is inefficient as not all resources are used. Point B is identified as the best choice as capital goods have more long term growth potential. For question 3.7, the answers identify a household purchase as an example of product market demand, a firm's demand as an example of factor market demand, labor as supplying the factor market, and capital as supplying the factor market.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    16 views1 page

    GE273 Homework Week2

    Uploaded by

    MrDiaz
    This document contains the answers to homework questions from a microeconomics class. For question 1.8, the answers are that point E is unattainable, points B,C,D are efficient as they maximize resources, and point A is inefficient as not all resources are used. Point B is identified as the best choice as capital goods have more long term growth potential. For question 3.7, the answers identify a household purchase as an example of product market demand, a firm's demand as an example of factor market demand, labor as supplying the factor market, and capital as supplying the factor market.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    of 1

    Chris McGilvary

    Microeconomics

    Week two homework

    Question 1.8
    A. Point E is unattainable at present. Outside the curve.
    B. Points B,C,D are efficient because they maximize resources.
    C. Points A is inefficient because all resources are not being used.
    D. Point B. Capital goods have more long range growth potential.
    Question 3.7
    A. This is an example of a household purchase in the product market.
    B. This is an example of a firms demand in a factor market.
    C. Labor supplying the factor market.
    D. Capital supply to the Factor market.

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