I will attach question 3 for reference below...

Forthisquestion,refer back to the data onquestion 3.

Suppose that some brilliant scientists finda way totransform 1 banana into two apples or, by reversing the process, 2 apples into 1 banana. Formally, the production set is as follows:

,

where a and b denote (respectively) the units of apples and bananas employed as inputs/outputs.

How many bananas will be produced inequilibrum? Note: if bananas are used as an input to produce apples, then your answer should be a negative number.

QUESTION 5 20 points Save Answer For this question, refer back to the data on question 3. Suppose that some brilliant scientists find a way to transform 1 banana into two apples or, by reversing the process, 2 apples into 1 banana. Formally, the production set is as follows: Y = {(a,b) : as -2b}, where a and b denote (respectively) the units of apples and bananas employed as inputs/outputs. How many bananas will be produced in equilibrium? Note: if bananas are used as an input to produce apples, then your answer should be a negative number. Hint: you don't need to produce many calculations. Simply ask yourself what will the relative prices in this economy be? Then, how does the market clearing condition look like? What is the solution for the number of bananas? TT TT Paragraph 4 Arial 3 (12pt) E T - - - U fx Mashups . 1 4 @ @ BBM CSS Path: p Words:0