Marking: Marks will be awarded based on how well you: (a) understand the economic concepts from the lectures; (b) apply the concepts to the...

❗Need understand basic economic concepts and apply to all questions. ( need use appropriate diagrams or graphs, and show detail calculation steps, if possible )Identify appropriate foundational microeconomics theories and techniques to apply in the business environment;Apply the economic method to systematically and rigorously analyse economic phenomena;Analyse microeconomic issues within the frameworks of modern microeconomic models and analytical techniques to explain and predict the outcomes of changes in a variety of economic variables;Identify and assess, in a microeconomic framework, the economic issues confronted by individual decision makers and by society as a whole to guide economic decision making.

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