The figure above shows a nation’s production possibilities frontier. In the figure, point B shows

The table above shows the demand schedules for loose-leaf tea of two individuals (Sunil and Mia) and the rest of the market. At a price of $5, the quantity demanded in the market would be

If a product is narrowly defined, it is likely to

The above figure shows the production possibility frontier for a country. Suppose the country is producing at point E. What would be the opportunity cost to increase the production of wine to 9 thousand bottles?

Assume that the U.S. and Japan can switch between producing airplanes and cars at a constant rate.     Refer to the table above.  The opportunity cost of 1 airplane for Japan is

The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market. If the price of caviar rises from $65 to $75, the market quantity demanded would

Figure 2-5   Refer to Figure 2-5. Inefficient production is represented by which point(s)?

In the production possibilities model, the vertical axis measures ________ and the horizontal axis measures ________.  

The figure above shows the market for sports drinks. Consider this statement: regarding the figure:        “If the price falls from $3 to $1 per bottle, quantity demanded changes from 10 to 25 bottles.” Which of the following states the same idea ?

Suppose Katie, Mark, and Bobby are the only consumers in the market for ice cream. Using the demand schedules in the table above, at a price of $4, the quantity demanded in the market would be