So I can get a better understanding.

Please answer all the questions below.

Also, make sure to label each graph correctly with the points and names

and write clearly

1. The table below list the different combinations of chairs and tables that can be produced with a fixed quantity of resources.

	Chairs	Tables
A	0	280
B	150	240
C	275	180
D	375	100
E	450	0

A. Plot the production possibilities frontier

B. Show a point X that is feasible but not efficient

C. Show a point Y that is both feasible and efficient

D. Show a point Z that is not feasible

E. What is the opportunity cost of moving production from A to C?

F.What is the opportunity cost of moving production from E to D?

2. Several You Tube and TikTok influencers ride bicycles to commute and advertise their bikes on social media. Using demand and supply, show graphically what may happen in the market for bicycles.

3. The demand and supply schedule for chicken is illustrated in the table below

Price per pound (in USD $)	Quantity Demanded (in thousands of pounds)	Quantity Supplied (in thousands of pounds)
$1.00	100	0
1.25	90	40
1.50	80	80
1.75	70	120
2.00	60	160
2.25	50	200

A. Graph the demand and supply of chicken. Label all parts of the graph.

B. What is the equilibrium price and quantity?

C. If the price of chicken were $2.00 per pound, would we have a shortage or surplus? How much is the excess?

D. If the price of chicken were $1.25 per pound, would we have excess demand or excess supply? How much is the excess?

E. Avian flu infects and kills millions of chickens. Show graphically and explain how this may affect the market for chicken.

4. The demand and supply schedule for computer programmers is illustrated in the table below:

Wage (per hour in USD)	Quantity Demanded (labor hours)	Quantity Supplied (labor hours)
$40	300	180
50	250	190
60	200	200
70	150	210
80	100	220

A. Graph the demand and supply for computer programmers. Label all parts of the graph

B. What is the equilibrium wage and quantity?

C. The US President passes legislation that restricts the entry of computer programmers from other countries. Show how this might affect the market for computer programmers.