A small publishing company decides to use one section of its plant to produce two textbooks called Microeconomics and Macroeconomics. The profit made on each copy is $12 for Microeconomics and $18 Macroeconomics. Each copy of Microeconomics requires 12 minutes for printing and 18 minutes for binding. The corresponding figures for Macroeconomics are 15 and 9 minutes respectively. There are 10 hours available for printing and 10.5 hours available for binding. How many of each should be produced for maximize profit?

explain key microeconomics terminology

differentiate between microeconomics and macroeconomics

create use economics graphs and numerical models to analyse and solve microeconomic problems.

explain the costs and benefits of internatinal trade, including calculation of gains from trade.

anayze the implact of government activity in markets.

determine optimal consumer buying decisions in the context of utility theory.

compare and contrast optimal pricising and output decisions in various market structures

apply supply and demand theory to both prodcut and factor markets

Question 4: (25 marks) 150 words Making a decision can be very easy or difficult, depending on the amount of information you have about your choices. In choosing a career path, it is important to think about many factors, like the kind of decision-maker you are, what decision-making style you use, and things that can interfere with the decision-making process. A. List and Explain Decision Making Styles. B. List and Explain Decision Making Steps.Question 21 4 If you don't know whether the frequency distribution is normally distributed. O You can use both the Empirical Rule and the Central Limit Theorem O You can't use the Empirical Rule, but you can use the Central Limit Theorem O You can't use the Central Limit Theorem, but you can use the Empirical Rule You can't use either the Empirical Rule or the Central Limit Theorem