Multiple Choice dentify the letter of the choice that best completes the stateme

Question

Multiple Choice dentify the letter of the choice that best completes the statement or answers the question Figure 24 Apples (bushels) 1. In Figure 2-4, for which of the following would this statement be true: "To get more apples we have to give up wheat." A movement from a. A to E b. C to D c. D to C d. Dto E e. B toC Figure 3-9 Q Moonshine Q Moonshine 2. "Moonshine" is illegal home brew made by adding sugar to accelerate corn fermentation. Ten pounds of sugar are necessary to make a gallon of moonshine. In the mid-1970s, the price of sugar tripled and the price of moonshine skyrocketed from S6 to S15 a gallon. Which graph in Figure 3-9 best illustrates this? a. 1 b. 2

Explanation / Answer

a) A movement from C to D means less wheat and more apples. The answer is "B".

b) "B"

The second model represents that. Increase in the price of sugar will lead to a shift in the supply curve.

c) "C"

Pont E represents an inefficient use of resources. As the point is below the PPf curve.

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