Calculate the average costs at points C, F, and G in Figure 6-2. Do they imply increasing or decreasing returns to scale? Why? Why do we treat leisure and earnings as ordinary utilityincreasing...



Calculate the average costs at points C, F, and G in Figure 6-2.


Do they imply increasing or decreasing returns to scale? Why?



Why do we treat leisure and earnings as ordinary utilityincreasing goods?



Describe the aspects of health that make it a consumption


good. Describe those that make it an investment good.



May 26, 2022
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