Refer to the scenario above. If the number of participants in the auction increases to 20, Rebecca should place a bid of ________.
A) 45,000
B) 42,750
C) 4,500
D) 40,500
Question 2
Refer to the table above, which gives five points on a nation's PPF. The production of 7 units of X and 28 units of Y is
A) impossible given the available resources.
B) possible but leaves some resources less than fully used or misallocated.
C) on the production possibilities frontier between points c and d.
D) on the production possibilities frontier between points b and c.
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