QUESTION 1 Examine the graph below and answer the questions that follow: in an INCREASE in production. The Production Possibilities Curve below shows the production possibilities for a healthcare manufacturer that produces hospital beds. A shift in the PPC has occurred that resulted 200 180 M B E 150 120 Non-COVID beds OL F 90 60 30 ON G 0 D 0 10 20 30 40 50 60 COVID bedsRead the sentences below and select the most appropriate answer from the list of answers given to you. Which of the following points represent(s) efficient production AFTER the shift? Which of the following points represent(s) efficient production BEFORE the shift? Which of the following points represent(s) unobtainable production AFTER the shift? Which of the following points represent(s) inefficient production BEFORE the shift?\f60 50 Whisky (litre 40 30 20 10 0 0 10 20 30 40 50 60 70 80 90 Brandy (litres) The graph above shows the Production Possibility Curve for a company that produces only whisky and brandy. Use the graph above to complete the following sentence; If the company currently produces 85 litres of brandy, then the opportunity cost of 35 additional litres of whisky is v litres of Note that no marks will be awarded unless both choices are correctR Price per unit T P E B Pm U Demand curve 0 Q Qm Q1 Quantity per period Who benefits the most when government intervenes and introduces a new price (Pm)? Consumers O Producers O Consumers and producers benefit equally The general welfare of society improves