Which of the following is the least dense?

Using the table below and answer correctly. PPF’s points and data for bicycles and cars Points Bicycles Cars A 5000 0 B 4800 100 C 4300 200 D 3400 300 E 0 400 Using the table above and drawing a Production Possibilities Frontier (PPF) with bicycle in the vertical axis and car in the horizontal axis we get the points [option1] on the PPF, hence, those points are called [option2] points. Any points under the PPF would be called [option3] points. The opportunity cost of an additional car on segment BC is [option4] and on segment CD is [option5]. Given the opportunity costs along the PPF, one can conclude that the PPF has a [option6] shape, as the opportunity costs along the PPF are [option7]. If a new tariff is imposed on steel, this will affect the production of both bicycles and cars, as importing steel becomes more expensive. As a result, we’d expect a [option8], since production would be reduced. 

Use the following to answer questions 21-22.  Figure: Gains from Trade (Figure: Gains from Trade) Refer to the figure. What are the unexploited gains from trade at the free market equilibrium?

(Figure: Gains from Trade) Refer to the figure. What are the total gains from trade at the free market equilibrium?

Use the following to answer questions 19-20.  Figure: Price and Quantity 1 (Figure: Price and Quantity 1) In the diagram, at which price is there a surplus?

Figure: Drums and Shoes Which of the following statements is most consistent with the above production possibilities frontier? Choose the best answer.

Which is a positive economic statement?

(Figure: Price and Quantity 1) In the diagram, at which price is quantity demanded equal to the quantity supplied?

If the price of cabbage falls by 2 percent and quantity supplied falls by 6 percent, the elasticity of supply is ______ , so supply is ______.

Use the following to answer questions 9-10. (Table: Production Possibilities for Italy and Belgium) According to the table on production possibilities for Italy and Belgium, the opportunity cost of 1 pound of linen for Italy is: