1.Using the following functions:

Qd = 15 - 2P

Qs = 3P - 6

what is the x-axis intercept of the supply curve?

Select one:

6

3

2

None of these

2.The following information shows the hours required to produce coconuts and fish in Tribe 1 and Tribe 2 in a day (24 hours).

Tribe 1 has the

Select one:

comparative advantage in coconuts and absolute advantage in both goods

comparative advantage in coconuts and absolute advantage in neither good

comparative advantage in fish and absolute advantage in both goods

comparative advantage in fish and absolute advantage in neither good

3.The following information shows the hours required to produce coconuts and fish in Tribe 1 and Tribe 2 in a day (24 hours).

A suitable price of trade for both tribes would be (assuming fractions of goods can be traded)

Select one:

3 fish for 1 coconut

1.5 coconuts for 1 fish

0.75 of a coconut for 1 fish

0.75 of a fish for 1 coconut