Capture58.PNGCapture80.PNG Find the area of the shaded region under the standard normal curve.

Match the word with the correct defition. 

Refer to the graph above. It depicts France’s and the Netherlands’ PPFs between butter and cheese. The opportunity cost of producing an additional pound of cheese in the Netherlands is ____. 

Firms expect the price of scarves to rise later this year. In response, the current equilibrium price of a scarf ____, and the current equilibrium quantity of scarves _____.

Point Quantity of Apples Quantity of Peaches Point A 0 Apples 500 Peaches Point B 100 Apples 450 Peaches Point C 200 Apples 350 Peaches Point D 300 Apples 200 Peaches Point E 400 Apples 0 Peaches Refer to the PPF above. When moving from Point D to Point C, the opportunity cost of producing an additional peach is ____ apple(s).

Pasta and rice are substitutes, and the price of rice falls. Simultaneously, the price of flour used to make pasta falls. Which of the following MUST be true?

Point Quantity of Apples Quantity of Peaches Point A 0 Apples 500 Peaches Point B 100 Apples 450 Peaches Point C 200 Apples 350 Peaches Point D 300 Apples 200 Peaches Point E 400 Apples 0 Peaches Refer to the PPF above. When moving from Point C to Point D, the opportunity cost of producing an additional apple is ____ peach(es).

Refer to the graph above. It depicts France’s and the Netherlands’ PPFs between butter and cheese. The opportunity cost of producing an additional pound of cheese in France is ____. 

Refer to the graph above. It depicts the market demand and supply for video streaming services. When the price of a subscription is $30, consumer surplus is ____, and producer surplus is ____.  

Patricia can produce either 15 arepas or 12 empanadas. Her opportunity cost of producing an additional arepa is ____.