Microeconomics Theory and Application

Please refer to that book Chapter 7 -Browning, E. K., & Zupan, M. (2012). Microeconomics Theory and Application (11th ed.). Hoboken, NJ: John Wiley & Sons, Inc.

Answer the following Review Questions and Problems on pages 204-206.

· 7.1, 7.10, 7.19, 7.23

· Questions and problems marked with an asterisk have solutions given in Answers to Selected Problems at the back of the text.

Applications

7.1

a. Explain the relationship between your marginal term’s GPA and your overall GPA.

7.2

a. At what level of coffee consumption do diminishing marginal returns begin for most students?

b. If an additional cup of coffee leads to a lower total test score, what do we know about its marginal product?

7.3

a. Describe the M&A activities impact on the returns to scale for Citigroup.