This document contains workings, explanations and solutions to the ECS2606 Assignment 1 (QUALITY ANSWERS) Semester 1 2024 (613420). For assistance call or us on 0.6.8..8.1.2..0.9.3.4......... 1. Discuss the implications of the first and second law of thermodynamics for the processes of production and consumption in the economy. [10] 2. 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] 3. Discuss the THREE different types of impact analysis [10] 4. Discuss the possible environmental problems associated with economic growth. [10] 5. 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]
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