PS2_Essay

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-END- ECON1001: Principles of Microeconomics (Non-major) Fall 2007 Problem set #2 (Question & Answer Sheet) Please drop off to Moyin’s mailbox at 9/F, KKL Building , according to your sub-classes Note : Moyin has 3 mailboxes! Please don’t submit your assignments to lecturers! LATE ASSIGNMENTS WILL NOT BE GRADED. Name: Student ID: (Please print) Subclass: ECON1001 C / D / E / F / G / H (circle one) Lecturer: Dr S. Démurger / Dr Y.K. Fan / Dr M. Lo (circle one) 1. Multiple Choice Questions Due Date: 5pm, 23 Sep (Sun) Please hand in your answers in the WebCT. Other submission methods NOT
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Unformatted text preview: allowed! You can download a reference copy from the tutorial website for better preparation. 2. Short answer question Due Date: 5pm, 21 Sep (Fri) Æ different from MC!! (Write your answers in the space provided, hand written answers acceptable) Sarah can pick 6 pounds of coffee in an hour or gather 3 pounds of nuts. Tom can pick 3 pounds of coffee in an hour or gather 6 pounds of nuts. Each works 6 hours per day. Draw a production possibility curve for an economy consisting of these two persons. (Show the graph clearly with proper labels. No need to explain.) Ans:...
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