72 96 112 Beef 30 27 21 12 Complete the following (approximate) possibilities for Emilon. a. Emilon can produce 104 rice and beef. b. Emilon can produce rice and 24 beef. Which of the following product combinations is Emilon capable of producing? C. Can Emilon produce 80 rice and 24 beef? (Click to select)

6. Which of the following demonstrates the law of supply? a. When leather became more expensive, belt producers decreased their supply of belts. b. When car production technology improved, car producers increased their supply of cars. C. When sweater producers expected sweater prices to rise in the near future, they decreased their current supply of sweaters. d. When lemon prices rose, lemon growers increased their quantity supplied of lemons.

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9,   what is primarily concerned with markets for goods, services and resources

CON101 section(2,3 &5)Dr. Abdulhadi Ibrahim / Bonus Quiz (Section 5) 8am Market failure can be caused by of Select one: tion O a. government intervention and price controls O b. externalities and market power O c. high prices and foreign competition O d. low consumer demand

Refer to Table 1, at which of the following prices would both Daniel and Katie gain from trade with each other? Table 1 Minutes needed to make 1 Piece of Brownies Cup of Milk Tea Daniel 15 9. Katie 12 14 Select one: O a. 6 pieces of brownies for 3 cups of milk tea O b. 6 pieces of brownies for 4 cups of milk tea O c. 6 pieces of brownies for 5 cups of milk tea O d. 6 pieces of brownies for 8 cups of milk tea O e. 6 pieces of brownies for 12 cups of milk tea None of the above prices.

1. Which of the following variables does not directly impact the quantity of a good the firm is willing to produce?   a. the price of the good   b. the income level of the people who buy the good   c. the number of firms producing the good  d. the cost of a key input used to produce the good