lecture 4 - CHINA 10 FOOD 10 Clothes FOOD CLOTHES FOOD...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CHINA 10 FOOD 10 Clothes FOOD CLOTHES FOOD CLOTHES ***We start out with a linear graph for both China and America, and now we combine the two and the line is bowed out I. A Quest of Water a. Beginning in 1941 Mono Lake, Ca., began disappearing down 275 a mile aquifer to LA b. Western irrigation projects use 150 billion gallons of water per day i. Farmers
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
c. The Ogallala aquifer is dropping by 3 feet per year- underwater lake i. 20 million square acres at one point d. Singapore has reserved 50% of land area for water collection e. In Middle East water is a constant source of friction II. Stopping at the pizza store a. I go to the pizzeria and someone sticks something in my head to tell them how much I would be willing to pay for a piece of pizza i. Marginal Value: is the maximum amount you would be willing to pay for one additional unit of a good SLIC E Marginal Value Total Value Price Total Expenditure CS= TValue-TExpeditures 1 6 $ 6 2 2 4 2 4$ 10 2 4 6 3 2$ 12 2 6 6 4 1$ 13 2 8 5 5 .50 $
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/28/2009 for the course ECON 1101 taught by Professor Evans during the Fall '08 term at Cornell University (Engineering School).

Page1 / 4

lecture 4 - CHINA 10 FOOD 10 Clothes FOOD CLOTHES FOOD...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online