Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 3, Problem 3P
To determine
The factors that influence household to decide whether to choose household production or buying it from market place.
Introduction:
Household Production- The goods produced by the members of the family for their own consumption using their own capital and labor (unpaid) is known as household production.
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PS2(1)
Is it rational to buy more of something if the price goes up? Why or Why Not?
Price
Quantity
(Dollars per shirt)
(Shirts)
Produce or Shut Down?
Profit or Loss?
10
Shut down
Loss
20
10,000
Produce
Profit
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35,000
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37,500
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40,000
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Year 2018
Year 2019
Year 2017
[Tahun 2017]
Price
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[Tahun 2018]
Quantity
[Kuantiti]
[Tahum 20191
Quantity
[Kuantiti]
[Produk]
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Price
Quantity
[Kuantiti]
(RM)
[Harga
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[Harga
(RM)]
1
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[Harga
(RM)]
1.25
A
180
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200
90
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90
100
100
120
0.6
675
0.5
600
0.5
630
Compute the values of nominal GDP in 2017, 2018 and 2019.
[Kirakan nilai-nilai KDNK nominal pada 2017, 2018 dan 2019]
(i)
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