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answer the following with correct answer Question 3 2 pts Quantity of Sandwiches LU 0 2 4 6 8 10 Quantity of Sodas This graph

answer the following with correct answer

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Question 3 2 pts Quantity of Sandwiches LU 0 2 4 6 8 10 Quantity of Sodas This graph above displays Ethel's budget constraint when choosing her weekly lunch consumption. If her lunch budget is $20 per week, what is the price of a sandwich? 0 $2 0 $5 0 $10 0354 Question 4 2 pts Stan has $12 to spend at a baseball game. Beer is $2 and Hot Dogs are $3. Which of the following options is NOT in Stan's opportunity set? 0 3 Beers and 2 Hot Dogs 0 3 Beers and 3 Hot Dogs 0 2 Beers and 2 Hot Dogs 0 0 Beers and 4 Hot Dogs Question 5 2 pts In economics, the next best alternative, or what must be given up in order to obtain something else, is known as the 0 budget constraint 0 marginal cost 0 opportunity cost 0 implicit tradeoff Question 6 2 pts Jesse decides to spend an hour playing basketball rather than studying for an economics exam. Which of the following best describes his opportunity cost? 0 Nothing, since he is playing for free at a local park. 0 The wear and tear on his sneakers from playing basketball. (Q the benet to his grades from studying for an hour. 0 Nothing, since he would rather play basketball. Question 7 2 pts Even if you love ice cream, your third scoop of ice cream in one hour is typically less satisfying than your rst scoop of ice cream. In economics, this principle is known as ___ O the law of increasing opportunity cost 0 the law of diminishing marginal utility O the law of demand 0 the too much ofa good thing principle Question 8 . X Quantity of guns produced Quantity of butter produced In the PPF displayed above, which point is not productive efficient? O A, since more can be produced with the resources available. O C, society is producing too much butter and not enough guns. O D, this society should specialize in producing either guns or butter. O B, society is producing too many guns and not enough butter.Question 9 2 pts Quantity of guns produced Quantity of butter produced In the PPF displayed above, which point is allocationefficient? O C, since food is more necessary for survival, a production strategy focused on butter is more efficient. B, since guns are more valuable than butter, a production strategy focused on guns is most efficient. There is not enough information to make a statement about which point along the PPF is allocation efficient. O D, a balanced mix between guns and butter will maximize this society's wellbeing. Question 10 2 pts Your friend states "I believe the federal minimum wage is too low, and should be increased to at least $10 per hour". Is this an example of a positive statement or a normative statement? it depends what state she lives in O normative O positive neither positive or normativeQuestion 2 2 pts If a consumer only purchases two goods, bagels and movie tickets, and the cost of movie tickets increases, what happens to the consumers's opportunity set? 0 It depends on the price of bagels Q It decreases Q It stays the same 0 It increases

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