Refer to Figure 2-5. If the economy is currently producing at ...

[kamilo84]

Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost of moving to point Y?
 
  A) 2 million tons of paper B) 14 million tons of steel
  C) 9 million tons of paper D) 2 million tons of steel

Question 2

Refer to Figure 4-1. If the market price is 1.50, what is Arnold's consumer surplus?
 
  A) 1.50 B) 2.25 C) 3.00 D) 4.75

[reelove4eva]

Answer to Question 1

D

Answer to Question 2

A

[kamilo84]

Thanks for the timely response, appreciate it

[kswal303]

TYSM