1. Explain the following economic intuition to a family member who knows nothing about mathematics: I am not expecting an economics course and would like a short answer

1. What is Marshall's consumption problem? According to Marshall's theory of consumption, why do we order a coffee and a croissant in the faculty cafeteria?

2. Why are some taverns open every day, while others are open only from Thursday to Sunday? 1. assume that tavern prices vary during the week (in fact, in many taverns, gin is less expensive on Mondays than on Saturdays. 2. argue like a businessman who understands economic theory

3. What is a Walrasian competitive equilibrium? Hint: Explain this definition visually

4. What is efficiency in the Pareto sense? Hint: Explain this definition intuitively