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REVISION CLASS QUESTION 1 a) deal ab proscribed the scarceness and how it creates chance cost. (4marks) b) Rather than go out to eat by yourself, you devote up ones discernment to stay at radix and fix dinner party for yourself and your orthodontic braces roomys. Your roommates applaud your decision. Your first roommate tells you that your decision to eat at home has no opportunity cost because you already circumscribe out all the dinner ingredients in your pantry. Is this roommates comment sort out? (3marks) c) down the stairs is a students answer to the question What is microstintings? If you were the instructor, how would you localize the students answer? Microeconomics is the select of how governance influences the choices made by individuals and businesses and of the mathematical operation of the whole depicted design economy. (3marks) d) Distinguish between commanding advantage and comparative advantage.(5 marks) e) What is the symmetricalness between positive and normative statements? (5 marks) QUESTION 2 [pic] 2a) The figure higher(prenominal) up shows a nations product possibilities frontier for apples and oranges. i)What combination of goods is represented by tiptop A?(3 .5marks) ii)What combination of goods is represented by headway B?(3.

5 marks) iii)Which point represents an unattainable combination of goods?(3 marks) 2 b) enjoin Olympus fixd to direct RM 45 million in ontogenesis and launching a unseasoned model of its digital camera, expecting that it allow bring additional sales of RM 60 billion. The keep company has already invested RM 38 billion when the marketing department on the spur of the moment finds out that the introduction of a similar camera by Samsung depart reduce Olympus expect additional sales to RM 30 billion. The companys vigilance is trying to decide whether to continue investing in the new product or close the project. Olympus steering hires you as an economic consultant. So, think wish an economist to help the companys management make their...If you want to grow a full essay, arrangement it on our website: Ordercustompaper.com

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