Thank you for your response. After further reasearch I found: a. The Marginal Rate of Substitution  b. The Marginal rate of Technical Substitution c. The Marginal rate of Transformation  in terms of Pareto Optimality, the perfectly competitive market and general equilibrium how are those three concepts related to a. Product Efficiency b. Consumption Efficiency c. Product Mix Efficiency

Assume that the graphs show a competitive market for the product stated in the question. Price aa 0 Price a a 0 2₁*Q₂ Quantity Graph A Graph A E₁ Q₁ Q₂ Quantity Graph C Graph B Graph C E₂ KE₁ Graph D D₁ S₁ U None of the above 52 Price 0 Price E₂ E₁ Q₂ Q₁ Quantity Graph B E2 KE₁ Q₂ Q₁ Quantity Graph D D₁ Select the graph above that best shows the change in the market specified in the following situation: In the market for ramen noodles (an inferior good), when consumers experience a substantial fall in income due to an economic recession. D₂ S₂ O 55

In each problem, you must explain the scenario’s effect on the market. If the quantity supplied or the quantity demanded changes, state how (increase or decrease). If instead, the scenario meets one of the criteria above, indicating there is a shift. If one of the curves shifts, state why and the direction it shifts (left or right). You should then state the effect on price (increase or decrease)..⦁   You are a wheat farmer. Locusts attack your wheat.                  ⦁   Price of gasoline goes up. You own a gas station.                  ⦁   The price of corn goes up. You normally plant soybeans.                     ⦁   The price of peanut butter goes up. You sell jelly.       ⦁   Your patent runs out on your popular and necessary drug.              ⦁   Amazon has picked your small town to be their new worldwide headquarters.        ⦁   The country is going into a recession. You sell jewelry.          ⦁   The price of TVs just decreased by 20%.                     ⦁   Your product was…

Need help with homework questions relating to supply/demand  d) Women have always worn trousers when performing work-related activities. In 1914, however, fashion magnate and influencer Coco Chanel turned women’s trousers into afashion staple: a garment that could be worn for formal events, as well as for merefunction. How does this affect the market for women’s trousers? Explain using a diagram. (e) In 1839, Charles Goodyear invented a new method of processing natural rubber, which eventually led to the first rubber condoms being produced in 1855. Prior to this, condoms were made of treated linens, animal bladders, or fine leather. How does this affect the market for condoms? Explain using a diagram.

Economics: Labor Economics Question: 1 If unskilled labor and robotics are substitutes in production a decrease in the price of robotics is predicted to a. decrease the demand for unskilled labor if the scale effect outweighs the substitution effect. b. decrease the demand for unskilled labor if the substitution effect outweighs the scale effect. c. unambiguously increase the demand for unskilled labor. d. unambiguously decrease the demand for unskilled labor.   Question: 2 Assuming capital is fixed in the short run and variable in the long run what would likely happen to wages in the short and long run following a wave of immigration? a. a large decrease in the short run, followed by a smaller decrease in the long run b. a small decrease in the short run followed by a larger decrease in the long run c. an increase in the short run followed by a large decrease in the long run d. a decrease in the short run followed by an increase in the long run   Question: 3 Which of the following…

B4 Using well-labeled supply and demand curves show how the following events will affect the market for gold. a) A large deposit of gold is found in South Africa. b) An increase in the income per capita of a developing country leads to an increase in the global demand for gold. c) There is government ban on mining gold for environmental concerns. d) A production technology reduces the cost of mining.

Please answer. Thank you