Increasing opportunity costs along a bowed-out PPF occur, because ____.

   The table above depicts the initial demand and supply schedules for bouquets of flowers. Suppose that the cost of refrigerating cut flowers rises, and the entire supply of flowers decreases by 20 bouquets. As a result, the new equilibrium quantity of flowers will be ____.

The price of corn used to make tortillas rises. As a result, the equilibrium price of a tortilla will _____, and the equilibrium quantity of tortillas will _____.

   In the figure above, the opportunity cost of producing an additional avocado ____.

   Suppose that the government imposes a price floor at $400 per palm tree. As a result, there will be a surplus of ____ palm trees, and ____ palm trees will be bought and sold.

Professor Rush can bake 12 cookies or 2 pies in one hour. Professor Knight can bake 18 cookies or 4 pies in one hour. Professor Knight has an absolute advantage in the production of ____ and a comparative advantage in the production of ____.

   In the figure above, the opportunity cost of producing an additional banana ____.

All points that lie on the PPF are ____ and ____.

A price floor that is set above the equilibrium price ____ the quantity of the good that gets bought and sold and ____ a deadweight loss.  

   Suppose that the government imposes a price floor at $500 per palm tree. As a result, there will be a surplus of ____ palm trees, and ____ palm trees will be bought and sold.