Q.1. What do you mean by Equilibrium? Discuss how itoccur with example.Q.2. Do you think that the pure market economy in thesecircumstance of COVID 19 play an effective rolein economy? Give four evidences from your pointof view.Q.3. Trade Can Make Everyone Better Off. DiscussQ.4. One of the government target is to increaseeconomicgrowth intheOmanicountry.to achieve this target bygovernment wantimproving productivity of labour in the country.Discuss the policies that used to improveproductivity in Oman.

Since you posted multiple questions, we will provide the answer for first questions.

Answered: Q.1. What do you mean by Equilibrium?…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. The diagram below refers to production possibility frontiers for a country that produces technological goods and agricultural goods. Technological goods 590 K 440 F 410 350 G 420 800 Agricultural goods Initially, the economy had a production possibility frontier shown by the curve FG and it was operating at point H. The production possibility frontier then moves to JG, and the economy is now operating at point K. Based on the information provided above, calculate the initial and the new opportunity cost in terms of technological goods of producing 420agricultural goods. You are required to show your workings..
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