What is the difference between Positive and Normative Economics?

Question

What is the difference between Positive and Normative Economics?

Why the PPC is concave, based on opportunity costs and slope.

For a price floor to be binding, should it be above or below the equilibrium? What is an example of a binding price floor?

Which type of utility looks at utils and which type of utility looks at indifference curves?

What is the difference between accounting profits and economic profits?

Which effect dominates when the labor supply curve is backward bending: the substitution effect, or the income effect?

short answer questions. that I had trouble explaining

Answer 1

et, consectetur ad

nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentes

What is the difference between Positive and Normative Economics?

NEW

Introducing Textbook Solutions