Question 2 1 pts Consider the file Week 2 Homework PPF in the Folder Homework Files/Week 2 Homework Files. Which of the following production points can be economically efficient? This question has more than one correct answer. Recall that another name for economic efficiency is allocationficiency. Still another one? Pareto efficiency. O X =2, Y = 55 O X =3, Y = 55 O X =5 , Y= 0 O X =0, Y = 100 O X =3, Y = 75Question 3 1 pts Consider the file Week 2 Homework PPF in the Folder Homework Files/Week 2 Homework Files. Let's analyze the effect of a technological advance on the marginal social costs of production. Currently, the marginal social cost of increasing production ofX from 4 units to 5 units is units of Y. Now suppose that. over a span of several years. a technological progress takes place in the X industry so that for each level of Y production the country can produce twice as much X as before. No technological advances takes place in Y production. After this technological progress in the X industry. the marginal social cost of increasing production of X from 4 units to 5 units becomes units of Y. Why do you think is the reason for this result? Food for thought: What will be the effect of a technological advance in the X industry on the marginal social cost of increasing the production of Y in terms of sacrices of X? Why? Question 4 1 pts Question 1 1 pts Consider the file Week 2 Homework PPF in the Folder Homework Files/Week 2 Homework Files. Calculate the following: Marginal social cost of increasing the production of X from X = 1 to X = 2 in terms of the sacrifices of Y equals 2 units? Marginal social cost of increasing the production of X from X = 2 to X = 3 in terms of the sacrifices of Y equals 3 units? Marginal social cost of increasing the production of X from X = 3 to X = 4 in terms of the sacrifices of Y equals 4 units? Do you remember the reasons for these results?The labor force of an island country consists of only five workers. There are only two industries in this island, one producing X (for example, goods) and the other producing Y [for example, services). The following graph shows the production possibilities frontier [PPF) for this island country. it shows the effects on the production ofX and Y from shifting workers from one industry to another one worker at a time. For example, suppose that currently X = l and Y : 90. Now, if we shift one worker from Y to X production, the production of X will increase to X : 2 and the production of Y will decrease to Y = 75. There are no externalities