Author Question: In the table above, country B is producing 4 units of X and 6 units of Y. For country B, the ... (Read 123 times)

daltonest1984 · **on:** Jun 29, 2018

In the table above, country B is producing 4 units of X and 6 units of Y. For country B, the opportunity cost of producing an additional unit of Y is

A) 1/2 unit of X per unit of Y.
B) 2/3 unit of X per unit of Y.
C) 2 units of X per unit of Y.
D) 3 units of X per unit of Y.

Question 2

If both the demand and supply increase, the equilibrium quantity ________ and the equilibrium price ________.

A) increases; falls
B) decreases; might rise, fall, or not change
C) decreases; rises
D) increases; might rise, fall, or not change