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?

Label each entry in the list as dealing with a microeconomic topic or a macroeconomic topic. Macroeconomic | Motor vehicle production in China is growing by 10 percent a year. Microeconomic Coffee prices rocket. Macroeconomic Globalization has reduced African poverty. Macroeconomic The government must cut its budget deficit. Microeconomic Apple sells 20 million iPhone 6 a month. Click to select your answer(s). Save for Later10 poin The basic difference between macroeconomics and microeconomics is that: macroeconomics is concerned with generalization while microeconomics is concerned with specialization. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries.Question 3 Consider an exchange economy with two individuals who have initial endowments of two goods, x and y, W1 = (ti, 2), W3 = (2, 4), where the subscripts arc the individuals. These individuals have the following preferences, U1 = 2:1 at in, Hz = 12'; a: y'f'. 3. Find the set of all Pareto optimal outcomes1 the contract curve. b. Draw the Edgeworth box with the initial endowments and the contract curve. Are the initial endowments on the contract curve? :1. How would you solve for the core? (:1. State the rst fundamental theorem of welfare economies. Why is it important? What are its limitations (not the limitations from part (d))? e. Describe a scenario in which the rst fundamental welfare theorem would not apply