The graph below shows the production possibilities of two goods, hammers and wrenches, for a small...
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The graph below shows the production possibilities of two goods, hammers and wrenches, for a small economy: Hammers (thousands) 35 0:44:08 A 29 B 23 D 10 0 C E 22 30 4045 Wrenches (thousands) What is the opportunity cost of moving to point A if the economy is currently producing at point D? 0:41:56 The following figure illustrates an initial competitive equilibrium in the market for apple at the intersection of DI and S1 (point A): Price B 0 F S 2 1 0 D 2 Quantity Refer to the figure. If the price of pears, a substitute for apple, decreases and at the same time the wages of the apple pickers rise, how will the equilibrium point change? The graph below shows the production possibilities of two goods, hammers and wrenches, for a small economy: Hammers (thousands) 35 0:44:08 A 29 B 23 D 10 0 C E 22 30 4045 Wrenches (thousands) What is the opportunity cost of moving to point A if the economy is currently producing at point D? 0:41:56 The following figure illustrates an initial competitive equilibrium in the market for apple at the intersection of DI and S1 (point A): Price B 0 F S 2 1 0 D 2 Quantity Refer to the figure. If the price of pears, a substitute for apple, decreases and at the same time the wages of the apple pickers rise, how will the equilibrium point change?
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