Clearly distinguish between the following pairs of concepts as used ina economics.
a)production possibility set and input requirement set
b)price discrimination and multi plant monopolist.
c)partial equilibriam and general equilibrium analysis
a) Production possibility set is a graphical representation of the maximum output of two goods that can be produced with a given set of resources and technology. Input requirement set is a set of inputs that are necessary to produce a given output.
b) Price discrimination is a pricing strategy in which a firm charges different prices for the same product to different customers. Multi plant monopolist is a firm that operates multiple plants in different locations and has a monopoly in each of those locations.
c) Partial equilibrium analysis is an economic analysis that focuses on the effects of a change in one market on the equilibrium in that market, without considering the effects on other markets. General equilibrium analysis is an economic analysis that considers the effects of a change in one market on the equilibrium in all markets.