Question: (I need help! I need 5 sentences for each question please and thank you!) Q1) Discuss the differences between the constant opportunity cost and the

(I need help! I need 5 sentences for each question please and thank you!)

Q1) Discuss the differences between the constant opportunity cost and the increasing opportunity cost in termsof Production Possibility Curve. ie.) the shapes of PPC and the main assumption behind these two.

Q2) Discuss the differences between macroeconomics and microeconomics.

Q3) Compare "Change in Demand "with" Change in Quantity demanded" . Discuss causes and shape of curve.

Q4) At what price does Shortage and Surplus occur ? Once a market has shortage and Surplus, then what happens to the market price?

Q5) If an increase in Demand is larger than an increase in Supply, discuss equilibrium price and output sales.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!