1.Explain four applications of indifference curve analysis in economic decision making

2.State the law of diminishing marginal utility

3.What is an indifference curve

4.Explain the main characteristics of indifference curves

5.Briefly explain two exceptions to the definition of an indifference curve

6.Explain any four uses of indifference curve analysis

7.Analyze six factors that influence the cost behavior of a firm

8.Outline four factors that determine the supply of labour in an economy

9.Explain the difference between 'real' and 'pecuniary' economies of scale of a firm

10.State six assumptions of the marginal productivity theory of wage determination

11.Enumerate six barriers to occupation mobility of labour

12.Explain five causes of the u-shaped long run average cost curves of a firm