Jack is a prospective buyer of a commodity that Jill is offering ...

[Zoey63294]

Jack is a prospective buyer of a commodity that Jill is offering to sell. Social surplus in this scenario can be maximized:
 
  A) when only Jack is optimizing.
  B) when only Jill is optimizing.
  C) when both Jack and Jill are optimizing.
  D) when neither Jack nor Jill is optimizing.

Question 2

Refer to the above figure. Mario is self-sufficient and so is Mia. Each produces 6 dishes of pasta and 4 pizzas. Mario and Mia decide to specialize and trade.
 
  After they have specialized and traded, compared to the initial situation, Mia's opportunity cost of pasta has ________ and Mario's opportunity cost of a pizza has ________. A) decreased, decreased
  B) decreased, increased
  C) increased, increased
  D) increased, decreased

[Jody Vaughn]

Answer to Question 1

C

Answer to Question 2

C

[Zoey63294]

Gracias!

[scottmt]

Excellent