AL Econ Question 2

捷禾@Ajax

"The value of a good depends on its relative scarcity. Therefore, the value of a forest will increase if half of it is destroyed bu a fire."

Comment on the above statement by distinguishing between use value and exchange value. All values should be discussed in total, average, as well as marginal terms. (8 marks)



half of it is destroyed bu a fire = supply decreas? 如果係咁, total exchange value 咪depend on the elasticity of demand?
咁average exchange value 係咪應該升 since price must go up per unit?
咁marginal exchange value 又點搵?

Total use value 又會點變?

唔該哂

Scholes0821

TUV will decrease ..
AUV & MUV will increase ...

correct ma ??  

Zero

[QUOTE=捷禾@Ajax]"The value of a good depends on its relative scarcity. Therefore, the value of a forest will increase if half of it is destroyed bu a fire."

Comment on the above statement by distinguishing between use value and exchange value. All values should be discussed in total, average, as well as marginal terms. (8 marks)



1.  half of it is destroyed bu a fire = supply decreas? 如果係咁, total exchange value 咪depend on the elasticity of demand?
2.  咁average exchange value 係咪應該升 since price must go up per unit?
3.  咁marginal exchange value 又點搵?

4.  Total use value 又會點變?

唔該哂 [/QUOTE]
1.  Correct,可升可跌
2.  Correct.
3.  無Stat,Graph....點搵?
不過肯定升左

4.  Fall.
Demand Curve=Consumer's Preference,題目無話有變.....

Zero

[QUOTE=Scholes0821]TUV will decrease ..
AUV & MUV will increase ...

correct ma ??  [/QUOTE]
Yea....imo....

捷禾@Ajax

[QUOTE=Zero]1.  Correct,可升可跌
2.  Correct.
3.  無Stat,Graph....點搵?
不過肯定升左

4.  Fall.
Demand Curve=Consumer's Preference,題目無話有變.....[/QUOTE]
可唔可以講o下 3係點解

4. 如果係咁, 即係Exchange value 同 use value 都係睇同一條demand & supply curve?
咁即係點睇

唔該哂

捷禾@Ajax

[QUOTE=Scholes0821]TUV will decrease ..
AUV & MUV will increase ...

correct ma ??  [/QUOTE]
thx  

Zero

[QUOTE=捷禾@Ajax]可唔可以講o下 3係點解

4. 如果係咁, 即係Exchange value 同 use value 都係睇同一條demand & supply curve?
咁即係點睇

唔該哂 [/QUOTE]
MUV=Benefit,MEV=Marginal Cost,
係Equilibrium兩者相同.....

捷禾@Ajax

[QUOTE=Zero]MUV=Benefit,MEV=Marginal Cost,
係Equilibrium兩者相同.....[/QUOTE]
THX

This question is one of the homework assignment of our school.  Why don't you think it by yourself? think more, you can get a better A-level result!

簡拿華路

[QUOTE=danke]This question is one of the homework assignment of our school.  Why don't you think it by yourself? think more, you can get a better A-level result![/QUOTE]

你又知人地無諗過?