Microeconomics – Scenario Assignment: Efficiency And Equity Custom Essay

I am an undergraduate and this will be for a microeconomics unit that i have been studying for 3 weeks. So the ‘depth’ of the paper should not extend outside of the following areas that have been learns:
* efficiency and equity
* positive and normative analysis
* economic models
* scarcity & choice
* opportunity cost
* production possibility curve/frontier
* absolute advantage / comparative advantage
* supply & demand (law, schedule, curve & change in quantity)
* market equilibrium
* equilibrium price and quantity
From my understanding of the assignment it will be mainly based around PPC.

The following is the requirements for each question:

(a) needs to contain an argument as to what the economy is unlikely to produce all the schools and beds its wants and a discussion as to the constraints of the economy’s production. Needs to contain at least 3 sources.

(b) [I have already produced a graph for this question, as attached] needs to contain a discussion as to the curvature of the PPC and also a discussion as to why both of the requests (beds and schools) can’t be met. Needs to contain at least 1 reference.

(c) Needs to discuss the PPC in terms of efficiency and also as to discuss the second choice mentioned in terms of feasibility/efficiency. Needs to contain at least 1 reference.

(d) Needs to discuss the potential changes in the economy that would allow a higher productive capacity. Needs to contain at least 1 reference.

(e) Need to provide a high quality explanation as to the rational for the chosen combination and also discuss the types of economic analysis as applied to the assignment questions. Additionally a discussion on the potential for other economists to agree for parts A-D and E.

You can place an order similar to this with us. You are assured of an authentic custom paper delivered within the given deadline besides our 24/7 customer support all through.