week3_just_questions

week3_just_questions - This file reports week 3 class...

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1 This file reports week 3 class questions (7 week in timetable) without solutions for “introduction to economics” tutorials: TA 10-11; 15-10-2009 R TB 15-16; 15-10-2009 R TC 11-12; 16-10-2009 B TD 1-2pm; 16-10-2009 B TE 3-4pm 16-10-2009 B 1.4a Use the concept of opportunity cost to explain the following. a. More people choose to get postgraduate degrees when the job market is poor. 1.5b In the following examples, state how you would use the principle of marginal analysis to make a decision. b. Deciding how much library research to do before writing your essay. 1.8b Which of the following situations describes an equilibrium? Which does not? If the situation does not describe an equilibrium, what would an equilibrium look like? b. At the crossroads of High and Broadstreet are two petrol stations. One station charges ±0.90 per litre for petrol and the other charges ±0.85 per litre. Customers can get service immediately at the first station, but must wait in a long queue at the second. 1.9a
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This note was uploaded on 10/28/2010 for the course SSES 1001 taught by Professor E.g during the Spring '10 term at UCL.

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week3_just_questions - This file reports week 3 class...

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