MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 21, Problem 5IP
To determine

The method to solve the model when economist cannot do it analytically.

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Suppose, as an economist, you are ask to analyze an issue unlike anything you have ever done before. Also, you do not have a specific model for analyzing that issue. What should you do? Hint: what would a carpenter do in a similar situation?
Suppose, as an economist, you are asked to analyze an issue unlike anything you have ever done before. Also, suppose you do not have a specific model for analyzing that issue. What should you do? Hint: What would a carpenter do in a similar situation?
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