Imagine the following scenarios:

Due to the pandemic, people became more health-conscious and decreased their consumption of soda . Further Coke company started a new factory in Texas. Based on this, answer the following questions with reasoning:

1. The impact on the demand for soda
2. The impact on the supply of soda
3. The impact on equilibrium price and equilibrium quantity

0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 38 seconds. v Question Completion Status: QUESTION 2 3 points Figure: Anita's PPF J to\" ~nuouo~aoo 1230361050\"! Refer to Figure: Anim's opportunity cost of producing one bowl is a, 1/4 bowl b. 1/4 cup :2. 4 cups 0 d.4 bowls QUESTION 3 3 points Save Answer Which of the following is correct? a, A country can have a comparative advantage in both goods and they cannot have an absolute advantage in both goods. b.A country can have an absolute advantage in both goods and they cannot have a comparative advantage in both goods. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 35 seconds. v Question Completion Status: QUESTION 3 3 points Save Answer Which of the following is correct? a, A country can have a comparative advantage in both goods and they cannot have an absolute advantage in both goods. b.A country can have an absolute advantage in both goods and they cannot have a comparative advantage in both goods. c. A country that has an absolute advantage in a good should also have a comparative advantage in that good, d.A country that has a comparative advantage in a good should also have absolute advantage in that good. QUESTION 4 3 points Save Answer Jordan and Aruba both produce corn and batteries. Jordan will have comparative advantage in producing batteries if their a. production of batteries is more than Aruba's production of batteries. b. opportunity cost of producing a battery is lower than Aruba's opportunity cost of producing a battery. c. opportunity cost of producing a battery is more than Aruba's opportunity cost of producing a battery. d. production of corn is more than Aruba's production of corn, QUESTION 5 3 points Save Answer Table: Assume that South Africa and the Netherlands can switch between producing carpets and producing curtains at a consmnt rate. The table below shows the time they need to produce one unit of each product. Labor Hours Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 30 seconds. v Question Completion Status: QUESTION 5 3 points Save Answer Table: Assume that South Africa and the Netherlands can switch between producing carpets and producing curtains at a constant rate. The table below shows the time they need to produce one unit of each product. Labor Hours Refer to Table. From the information given in the table above we can say that a. South Africa has a comparative advantage in the production of curtains and the Netherlands has a comparative advantage in the production of carpets. b. South Africa has a comparative advantage in the production of carpets and the Nethertands has a comparative advantage in the production of curtains. c. South Africa has a comparative advantage in the production of both goods and the Netherlands has a comparative advantage in neither good. d,The Netherlands has a comparative advantage in the production of both goods and South Africa has a comparative advantage in neither good. QUESTION 6 3 points Table: Assume that Priya and Amanda are both established designers and can switch between producing dress and suit at a constant rate. lI_1 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 26 seconds. v Question Completion Status: good. QUESTION 6 3 points Save Answer Table: Assume that Priya and Amanda are both established designers and can switch between producing dress and suit at a constant rate. Hours Needed to Make 1 Refer to Table. Based on the table given above, we can say that a, Priya has comparative advantage in the production of dress and Amanda has comparative advantage in the production of suit. b. Priya has comparative advantage in both products and Amanda has comparative advantage in neither product. C. Priya has comparative advantage in the production of suit and Amanda has comparative advantage in the production of dress. d. Priya has comparative advantage in neither product and Amanda has comparative advantage in both products. QUESTION 7 10 points Sale Answer Refer to the table below: 3 Labor Hours Needed to Make One Lahor Hours Needed to Make ' 3 Curtain One Carpet 3 3 India 3 hours 15 hour Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 22 seconds. v Question Completion Status: QUESTION 7 1 0 points Save Answer Refer to the table below: 7 Labor Hourereeded m'naik'o'na' Labor Hoursrlveededrtorllhalce V Curtain One Carpet 3 hours 15 hour Lanka 2 hours 12 hours Referring to the table calculate the following: 1' Which country has an absolute advantage in curtains? 2. Which country has an absolute advantage in carpets? 3. Which countrv has a comoarative advantage in curtains? 4. Which country has a comparative advantage in carpets? Nate: Make sure ta provide reasoning In # 1 and # 2 and show opportunity cost math in # 3 and logical reasoning in # 4. Writing just the answers is not enough and will not get you the points. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I L! '5' Paragraph V Arial V 10pt V 35V 5" AV LV .7; 3% FD Q '" Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 15 seconds. v Question Completion Status: QUESTION 8 1 0 points Save Answer 88882388 5 10203010506010\" Duh" Refer to the graph above and answer the following with explanations. 1. All efcient points 2. All inefcient point 3. Analysis of points outside 4. The opportunity cost of moving from point A to B For the toolbar, press ALT+F1O (PC) or ALT+FN+F1O (Mac). B I Q '5- Paragraph V Arial V 10pt V E V Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 10 seconds. v Question Completion Status: QUESTION 9 3 points Save Answer Thomas is deciding to go to college in the Fall of 2020. As per his calculations, he will have to spend $45,000 on his tuition, $7,500 on room and board, and $3,500 on books and supplies. In addition, he will have to give up his part-time job where he is ourrently earning $11,000. Also he currently spends $5,500 on room and board. What is Thomas's opportunity cost of going to college? a. $55,000. b. $61,500. c. $48,000. d. $57,000. QUESTION 10 3 points Save Answer On a certain weekday, you decided to go out with your friend to a botanical garden. The entrance fees for the botanical garden was $25. Further, you also spend $10 on transportation to get there. On that day if you worked, you could have earned $50 working part-time. What will be your opportunity cost of going to the garden? a, $35 b.$85 c. $25 d.$15 QUESTION 11 3 points To calculate the opportunity oost of going to a watch a movie includes a, the monetary value of the time lost but not the prioe for the movie ticket. b. neither the price of the movie ticket nor the monetary value of the time lost, Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 07 seconds. v Question Completion Status: QUESTION 11 3 points Save Answer To calculate the opportunity cost of going to a watch a movie includes a. the monetary value of the time lost but not the price for the movie ticket. b. neither the price of the movie ticket nor the monetary value of the time lost. C. the price for the movie ticket but not the monetary value of the time lost. d.the price for the movie ticket and monetary value of the time lost. QUESTION 12 10 points Save Answer Ethan was working as a waiter in a restaurant in Manhattan earning wages of $40,000 per annum. While working he was renting a room for $10,000 per annum. His transportation costs were $2,000 per annum. Now he decided to go to college full time. Forthis decision, he left his job, His tuition expenses for the college were $7,000 per annum, Further his expenses for living arrangements were $11,000 per annum while in college. He also spent $3,000 on school books and supplies. Finally, he incurred transportation expenses of $2,500 per annum while in college. Based on the above calculate the opportunity cost for Ethan of pursuing this college degree for that year. Note: Make sure to show all the details such as direct expenses, income foregone, and extra expenses. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI 95- Paragraph V Arial V10pt v EEVEVAVLVL XIDEQ "' Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 08 minutes, 04 seconds. v Question Completion Status: QUESTION 13 3 points Save Answer Figure Huh) 30 60 \"1201501302102'0270300330 Ill-III: Refer to Figure. The opportunity cost of this economy moving from the point | to point H is a. 240 pillows. b. 120 blankets. c. 120 pillows. d. 240 blankets. QUESTION 14 3 points When the economists provide solutions to economics problems then they are said to make Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers bbhosted.cuny.edu chy + Bb Take Test: Test 1 (Graded) - 2022 Spring Term (1) ... C Figure4 Bintu's Production Possibilities FrontierJ... | Chegg.com Course Hero Remaining Time: 1 hour, 07 minutes, 56 seconds. Question Completion Status: QUESTION 14 3 points Save Answer When the economists provide solutions to economics problems then they are said to make O a. pessimistic statements. O b. positive statements O c. normative statements. stic statements. QUESTION 15 3 points Save Answer Figure 400 360 320 280 240 Peru's PPF CASHEWS (Pounds 8 8 8 8 8 1 2 3 4 5 6 7 8 9 10 PEANUTS (Pounds) Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit bbhostedcunyedu iw Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 07 minutes, 53 seconds. v Question Completion Status: QUESTION 15 3 points Save Answer Figure 3 240 Peru's PPF 1 2 3 4 5 6 7 8 9 10 PEANUTS(Pounds) Refer to Figure. The fact that the above PPF is a straight line means that a, the opportunity oost between the two products is decreasing. b.the opportunity cost between the two products is constant. c. the opportunity oost between the two products is rising. dithe opportunity oost between the two products cannot be established. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu i:i~ Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 07 minutes, 46 seconds. v Question Completion Status: QUESTION 16 3 points Save Answer Figure Refer to Figure. If the market for factors of production is represented by D in the above diagram, then a. households are represented by box C. birms are represented by box B. c. land. labor, and capital are represented by box B. d.market for goods and services are represented by Box C. QUESTION 17 3 points Save Answer Which of the following is NOT a factor of production in 3 Circular Flow Diagram? 3, Land bi Capital c. Output d. Labor , Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu Tw Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 07 minutes, 43 seconds. v Question Completion Status: QUESTION 18 3 points Save Answer Table Refer to Table. The table shows various production possibilities with the given resources and technology. What is the opportunity cost of an increase in the production of tablets from 2200 to 2500? a, 400 computers. b. 300 computers. :2. 300 tablets. d.400 tablets. QUESTION 19 3 points Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 07 minutes, 25 seconds. v Question Completion Status: QUESTION 18 3 points Save Answer Table Refer to Table. The table shows various production possibilities with the given resources and technology What is the opportunity cost of an increase in the production of tablets from 2200 to 2500? a. 400 computers. b. 300 computers. c. 300 tablets. d. 400 tablets. QUESTION 19 3 points Save Answer Ann-Iran on... u. cum..." klnm (my... arem "mm. \"MM..- N... or..." knnnunn rm mum n... cu: h. r...\" mam. karma are\". I' u. ehnumn'n Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 07 minutes, 21 seconds. v Question Completion Status: QUESTION 19 3 points Save Answer Assume lhat Mr. Sharma buys frozen pizza while working part-time because he could not afford to buy freshly baked pizza. If Mr, Sharma's income increases then a, there will be movement down and to the right along lhe demand curve for frozen pizza, b. his demand for frozen Pizza will decrease. c. there will be a movement up and to the left along the demand curve for frozen pizza, d. his demand for frozen Pizza will increase. QUESTION 20 3 points Save Answer In a demand curve a, price is shown on Yaxis and quantity demanded is shown on Xaxis. b. price is shown on Y-axis and demand is shown on X-axisi c. quantity demanded is shown on Yaxis and price is shown on X axis. d. demand is shown on Y-axis and the price is shown on X-axis, QUESTION 21 3 points Save Answer Figure Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers bbhostedcunyedu i:i~ Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 07 minutes, 18 seconds. v Question Completion Status: QUESTION 21 3 points Save Answer Figure PRICE QUANTITY Refer to Figure. The graph above is for the wooden furniture market The shift from S' to S in this market could be caused by a, an increase in the price of wood, b. a decrease in the priee of wood polish. c. an decrease in the price of wooden furniture d.an increase in income of the buyers Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 0 bbhostedcunyedu in Take Test: Test 1 (Graded) 2022 Spring Term (1) v Remaining Time: 1 hour, 07 minutes, 14 seconds. v Question Completion Status: QUESTION 22 3 points Save Answer When two variables move in opposite directions, the curve relating them is a, upward sloping, and we say the variables are negatively related. b. downward sloping, and we say the variables are negatively related. c. downward sloping, and we say the variables are positively related. dlupward sloping, and we say the variables are positively related. QUESTION 23 3 points Save Answer Suppose that when income rises, the demand curve for fruits increases, In this case, we know fruits are a, normal goods. b. inferior goods. c. perfectly competitive goods. d. durable goods. QUESTION 24 3 points Save Answer Assume that the weather has been warmer than usual in the month of March in east coast. This will cause a, the demand curve for ice cream to shift to the left. blthe demand for fans will decrease. c. a movement upward in a xed demand curve for sunscreen. d. a rightward shift in the demand curve forjackets. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers