MGEA02H3 Study Guide - Final Guide: Opportunity Cost, Production Function, Autarchism
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MGEA02H3 Full Course Notes
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Mgea02 introduction to microeconomics: a mathematical approach. Your tutorials are scheduled on the same day each week. The first tutorial will be announced via quercus. Assume that jane lives in a single-person economy and is only able to produce juice (y) and nuts (x). Her production possibilities frontier for one month"s production can be described by the function: Why or why not? (d) sketch the ppf. How are they related to geometric properties of the graph that you have sketched? in order to make 1 more x we give up 38 y. Let"s say that this utility function is: u. X and y don"t depend on how much juice or nuts jane already has, but we will ignore this unrealistic feature and enjoy the simple mathematical form of a linear utility function . ). 1(a) draw a graph depicting supply and demand curves in the market for tomatoes. Show the changes on the graph. (b) (a) (b) (c)
