Question: 1. Microeconomic Modelling ' -~ Explain why microeconomics models use (i) substantive assumptions and (ii) instrumental assumptions. Do these assumptions make the model more or

1. Microeconomic Modelling ' -~ Explain why microeconomics models use (i)

substantive assumptions and (ii) instrumental assumptions. Do these assumptions make the model

1. Microeconomic Modelling ' -~ Explain why microeconomics models use (i) substantive assumptions and (ii) instrumental assumptions. Do these assumptions make the model more or less realistic? How important is it for a model to have realistic instrumental assumptions

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