PLEASE ANSWER THE BELOW QUESTIONS :

1. Shane and Garrett can bake bread and produce Youtube videos using the same amount of resources. Suppose Shane has absolute advantages in both- bread and videos; Using your own numbers, can you conclude if Shane has a comparative advantage in both bread and videos? Illustrate your work and graph the PPF for Shane and Garrett.

2. Which of the following is/are not an illustration of the idea of opportunity cost?

a) A growing economy can produce more consumer goods and more capital goods at the same time.

b) If I buy pizza, I will bit be able to afford a movie

c)Resources devoted to consumer goods production are not available for capital goods production

d) I can buy a Nike sneakers with the money I save for rent

3. Identify whether the following statements may cause a movement along or an outward shift, or inward shift, or a point inside of the PPF:

-More immigrants arrived in Canada

-Canada produces more wheat and less crude oil

-Many people have died from covid 19

-Millions get sick of Omicron and need months to recover

- Many office towers are sitting empty in major Canadians cities.

4. Market demand is given as Qd=100-3p. Market supply is given as Qs=2p+50.

What will be the Equilibrium price _________ and Quantity ______?

Calculate the Quantity and determine if there is an excess supply or demand

when price in this market is at of $14? ________