ASSIGNMENT 01/2024 (First Semester) Answer all Questions. 1: Discuss the implications of the first and second law of thermodynamics for the processes of production and consumption in the economy. [10] Graphically explain the equimarginal principle by supposing a factory has two plants, one with steeply increasing marginal costs and one with more slowly increasing marginal cost [10] Discuss the THREE different types of impact analysis [10] Discuss the possible environmental problems associated with economic growth. [10] Explain the FOUR basic steps in benefit-cost analysis, which aspect of benefit-cost analysis would you consider to be the most controversial? Give reasons for your answer. [10]