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The Questions 1-Describe some of the trade-offs faced by each of the following: a. a family deciding whether to buy a new car
2-Consider the market for minivans. For each of the events listed here, identity which of the determinants of demand or suppl

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Answer #1

Answer 1. a) Whether to buy an expensive new car or cheap second hand

Whether to buy a car or invest the money in stocks

b) Whether to spend the money on park or on street lights.

Whether to spend money on one large park or many smaller parks.

c) Whether opening a new factory will give more profit or diversifying the goods produced.

Whether spending money on advertisement and discounts will give more profit or opening new factory.

d) Whether to improve the quality of education for the students or to do additional research during the time.

Whether to improve the lecture or enjoy in the free time.

e) Whether to go to a graduate school or start a business with the saved tuition fee.

Whether to go to a graduate school or to do internship or spend time with family.

Note-According to HOMEWORKLIB RULES first question is answered

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