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please answer Q1 Josel owns an energy company. He produces electricity from solar energy and wind energy. He has 1 field of 10 acres. He

please answer

Q1

Josel owns an energy company. He produces electricity from solar energy and wind energy. He has 1 field of 10 acres. He needs 2 acres to produce 1 unit of solar energy and 5 acres to produce 1 unit of wind energy. Suppose that merchants buy and sell the two commodities at

PS=3 and PW=5. Then,

a- The relative price of wind energy is greater than its opportunity cost.

b- The relative price of wind energy is smaller than its opportunity cost.

c- The relative price of solar energy is smaller than its opportunity cost.

d- Statements A and C are correct.

e- None of the above.

Q2

Josel owns an energy company. He produces electricity from solar energy and wind energy. He has one field of 10 acres. He needs 2 acres to produce one unit of solar energy and 5 acres to produce one unit of wind energy. Suppose that merchants buy and sell the two commodities at

PS=3 and PW=5. The value-maximizing point of production Is?

a- 5 units of solar energy and 0 unit of wind energy.

b- 2 units of solar energy and 0 unit of wind energy.

c- 0 unit of solar energy and 2 units of wind energy.

d- 0 unit of solar energy and 5 units of wind energy.

e- None of the above.

Q3

Josel owns an energy company. He produces electricity from solar energy and wind energy. He has one field of 10 acres. He needs 2 acres to produce one unit of solar energy and 5 acres to produce one unit of wind energy. Suppose that merchants buy and sell the two commodities at

PS=3 and PW=5. Using the CPF, the maximum amount of solar energy Josel can CONSUME is

a- 1 unit.

b- 2 units.

c- 3 units.

d- 5 units.

e- None of the above.

Q4

Josel owns an energy company. He produces electricity from solar energy and wind energy. He has one field of 10 acres. He needs 2 acres to produce one unit of solar energy and 5 acres to produce one unit of wind energy. Suppose that merchants buy and sell the two commodities at

PS=3 and PW=5. Using the CPF, the maximum amount of wind energy Josel can CONSUME is

a- 1 unit.

b- 2 units.

c- 3 units.

d- 5 units.

e- None of the above.

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