Answered: 15 10 5 PPF 3 4 Pizzos (millions) 5 a)…

15 10 5 PPF 3 4 Pizzos (millions) 5 a) Any point inside the PPF b) Cannot be judged with the given data c) Any point beyond the PPF d) Any point on the PPF. Cola (milions of conm

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

9) Refer to the figure below and identify if the unattainable point on the PPF.
* 15
10
PPF
Pizzas (millions)
a) Any point inside the PPF
b) Cannot be judged with the given data
c) Any point beyond the PPF
d) Any point on the PPF.
10) If a good has a price, then it is considered ?
a) Need
b) Free Good
c) Scarce
e) none of the above
Cola (millions of cans)

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Only typed Answer
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which seems to be correct?
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