Suppose that every consumer is on his/her budget constraint where MRS = 0.1, the price of good X is $2, the price of good Y is $1 and fırms are operating on the PPF where MRT = 4. Assume the PPF is concave. 1. To increase efficiency, consumers should consume [ Select ] of good X; [ Select ] of good Y. 2. To increase efficiency, firms should produce [ Select ] of good X; [ Select ] of good Y.

"Industry organization Agri SA has expressed concern about rising input costs in the agricultural sector, echoing concerns raised by the Agricultural Business Chamber (Agbiz) earlier this week. Agri SA says the cost of direct materials, labour and other overheads are particularly worrying, while Agbiz mentioned how fuel costs are gnawing at agribusiness' profitability". Sunshine markets is producing and selling sweet potatoes and they have been impacted by the rising costs. (A) (C) S1 a) A b) B c) C d) D D2 D'a S2 Da (B) (D) Di D'a $2 $1 Zoe D a If sweet potatoes and potatoes are substitute products, which diagram above illustrates the effect on the sweet potato market of a decrease in the price of potatoes?

Figure A Q Figure B Figure C Price (dollars per unit) 15- Price (dollars per unit) 15 Price (dollars per unit) 15- 14- 13- 12- 11- 10- MC MC 14- 14- 13- 12- 11- 10- „MC ATC 13- 12- 11- 10- ATC ATC MR MR MR 9- 9- 9- 8- 8- 8- 7- 7- 6- 90 100 100 100 1i0 Quantity (units) 90 110 90 110 15 Qua Quantity (units) Quantity (units) Consider a perfectly competitive firm in a short-run equilibrium. Figure shows a firm in bad times because the firm produces units and makes a(n) O A. A; 100; economic loss O B. B; 90; economic profit O C. A; 110; economic loss O D. C; 100; economic loss O E. C; 100; normal profit

Exercise:  01   Issue a promissory note: ⑴Amount ￡3,026.00 ⑵Date and place of issue 8/August/2009，Guangzhou, China ⑶Tenor At 90 days after date ⑷Maker Guangdong  Imp.  & Exp. Co.,  Guangzhou ⑸Payee Chemicals Import & Export  Company London                               ⑴Drawer     Thames Enterprises Ltd., London ⑵Drawee     The National Westminster Bank Ltd.,  London ⑶Payee     Philips Hong Kong ⑷Date and place of issue     07/01/2001，London ⑸Amount     GBP79,014 Exercise:  02   Issue a check: