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.3028262422201816141210864ONA210Point Ba.Point C is efficient.b. Point C is affordable.c. Point C isunattainable.d. Point C is inefficient.Point A3040Point C Suppose that at a price of $2, 300 apples are sold per day. The elasticity of supply is 1 when theprice increases from $2 to $4 in the short run and the elasticity of supply is 1.5 when the priceincreases 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. 900b. 1500c. 600d. 0

PPF is the production possibilities frontier that shows maximum combinations of two goods that can…

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

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

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

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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