Consider the point C in the PPF curve drawn below. 30 28 26 24 22 20 18 16 14 12 10 8 6 4 ONA 2 10 Point B a. Point C is efficient. b. Point C is affordable. c. Point C is unattainable. d. Point C is inefficient. Point A 30 40 Point C
Consider the point C in the PPF curve drawn below. 30 28 26 24 22 20 18 16 14 12 10 8 6 4 ONA 2 10 Point B a. Point C is efficient. b. Point C is affordable. c. Point C is unattainable. d. Point C is inefficient. Point A 30 40 Point C
Chapter2: Production Possibilities Frontier Framework
Section: Chapter Questions
Problem 6WNG
Related questions
Question
Please provide accurate and correct answers to both questions without explanation. Thank you for your assistance.
![Consider the point C in the PPF curve drawn below.
30
28
26
24
22
20
18
16
14
12
10
8
6
4
ONA
2
10
Point B
a.
Point C is efficient.
b. Point C is affordable.
c. Point C is
unattainable.
d. Point C is inefficient.
Point A
30
40
Point C](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F851230c5-e9d9-45df-bb53-600d0a184468%2F951d73ce-519b-457a-a6c8-801bd7583d94%2Fjquu6ce_processed.png&w=3840&q=75)
Transcribed Image Text:Consider the point C in the PPF curve drawn below.
30
28
26
24
22
20
18
16
14
12
10
8
6
4
ONA
2
10
Point B
a.
Point C is efficient.
b. Point C is affordable.
c. Point C is
unattainable.
d. Point C is inefficient.
Point A
30
40
Point C
![Suppose that at a price of $2, 300 apples are sold per day. The elasticity of supply is 1 when the
price increases from $2 to $4 in the short run and the elasticity of supply is 1.5 when the price
increases from $2 to$4 in the long run. (Use midpoint elasticity formula).
How much seller will sell the apples if the price increases from $2 to $4 in the short run?
a. 900
b. 1500
c. 600
d. 0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F851230c5-e9d9-45df-bb53-600d0a184468%2F951d73ce-519b-457a-a6c8-801bd7583d94%2Fy79gig_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that at a price of $2, 300 apples are sold per day. The elasticity of supply is 1 when the
price increases from $2 to $4 in the short run and the elasticity of supply is 1.5 when the price
increases from $2 to$4 in the long run. (Use midpoint elasticity formula).
How much seller will sell the apples if the price increases from $2 to $4 in the short run?
a. 900
b. 1500
c. 600
d. 0
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