Consider a market where demand is given by P = 60 - Qd and supply is given by P = 20 + Qs.If demand for the good increases, the new market equilibrium could be

a.Pe = 30, Qe = 90

b.Pe = 30, Qe = 30

c.Pe = 50, Qe = 30

d.Pe = 50, Qe = 90

Suppose Turkey can produce at most 68 rubies or at most 24 emeralds with their available resources and technology. Assuming constant opportunity costs, which of the following production plans is efficient?

a.34 rubies and 18 emeralds

b.17 rubies and 18 emeralds

c.34 rubies and 9 emeralds

d.17 rubies and 12 emeralds