Answer Happy

The table below illustrates that, in one day, Al can produce either 4 desks or 1 chair, while Bob can produce either 2 desks or 2 chairs.
Desks
Chairs
Al
4
1
Bob
2
2
How many of the following statements are true?
A) Al has a higher opportunity cost of producing Chairs.
B) Al has a higher opportunity cost of producing Desks.
C) Bob has a higher opportunity cost of producing Chairs.
D) Bob has a higher opportunity cost of producing Desks.
Question 4 options:
4
2
3
1
2.
When income increases from $20,000 to $30,000 the quantity of inter-city bus trips taken per year decreases from 10 to 8. Hence
Question 8 options:
the income elasticity of demand for inter-city bus trips is -1.8.
inter-city bus trips are a normal good.
inter-city bus trips are a luxury good.
the income elasticity of demand for inter-city bus trips is -0.56.
3.
The diagram below shows two production possibilities boundaries for Country X.
If Country X, constrained by the production possibilities boundary PPB2, is producing the combination of goods indicated at point E, it can produce more consumer goods by moving to one of the points
Question 3 options:
B, D
A, B, C
B
A