# STRAYER ECO301 WEEK 2 QUIZ (A++++++++ GUARANTEE) - 87801

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## anjis_devis

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Question 1

Let QD= -5P + 54 and QS= P - 6. Equilibrium can be found at

Question 1

Let QD= -5P + 54 and QS= P - 6. Equilibrium can be found at

Q = 4; P = 10

Q = 6; P = 10

P = 6; Q = 0

Q =; P = 2

5 points

Question 2

Suppose a production possibilities frontier can be expressed as 9X2+ Y2= 81 what is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y)?

a. 45
b. sqrt of 45
c. sqrt of 72 - sqrt of 45
d. 1

5 points

Question 3

The Ricardian notion that of diminishing returns implies that

As more input is used more output will be made.

As more input is used less output will be made.

As more input is used the increase in output will increase.

As more input is used the increase in output will decrease.
5 points

Question 4

Suppose the equilibrium quantity is

2

3

4

5

5 points

Question 5

If the production possibilities frontier can be expressed as 4X2+ Y2= 16 then the point X = 1; Y = 4 is

outside the production possibilities frontier

on the production possibilities frontier

inside the production possibilities frontier

in the wrong quadrant to be on the graph

5 points

Question 6

If society is producing a combination of goods on its production possibilities frontier

it must be employing all available resources.

it must be growing.

it is u

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