economics questions

Q1) The following data provides some information about Alice's production possibilities: Food (pounds per month) Sunscreen (gallons per month) A. 600 and 0 B. 500 and 50 C. 300 and 100 D. O and 150 al Draw a graph of Alice's PPF. b) If Alice produces 300 pounds of food per month how much sunscreen must if produce if it achieves production efficiency? c) What is Alice's opportunity cost of increasing the production of food at point ? d) What is Alice's opportunity cost of increasing the production of sunscreen at point ? Q2) Suppose we are in the meat market in a small town. By using the demand and supply graphs and market equilibrium analysis, discuss how the following factors will affect the meat market. a) Suppose there is a decline in the consumer's income. 6) Suppose there is an increase in the price of chicken. c) Suppose there is a technological advancement in meat production. d) Suppose there is an increase in the population of the town. e) Suppose there is a decrease in the number of farmers who produce meat. Hint: For each section you have to do a separate analysis. Q3) The demand and supply schedule for potato chips are Price Quantity Demanded Quantity Supplied 50 1600 1300 60 1500 1400 L 70 1400 1500 80 1300 1600 90 1200 1700 100 1100 1800 a) Draw the graph of the potato chip market and mark in the equilibrium price and quantity. b) If the price is 60 cents a bag, is there a shortage on surplus in the market? How does the price will adjust? Q4) The price of a luxury car increased from 42.000 euros to 44.000 euros. Then the demand for this car declined from 100 units to 20 units. Calculate the price elasticity of demand for the car Comment about the nature of the demand too