Q U ESTI O N 2 10 points Save Answer Identify the Land, Labor, and capital in this video: Above-Ground Pools | How It's Made - v Vinyl A. Labor - v Quality control inspector B. Land - v Computeraided cutter C. Capital - v Galvanized steel - v Punch press - v Injection molder - v Installation workers - v Crushed stone - v Landscaping fabric - v Water Q U ESTI O N 3 10 points Save Answer Why are Production Possibilities Frontiers (PPFs) curved instead ofat? Suppose an economy could choose between producing batteries or bread. Bread is made with flour, and batteries are made with metal, so the land is (different/similar). Likewise. the skills needed to make bread are v (differentlsimilar) to the skills needed to make batteries. Finally, the capital used to make bread is QUESTION 4 In Harry Potter and the Deathly Hallows, Harry, Ron, and Hermione are on the run from Lord Voldemort. While camping and hungry, Ron complains that they can't nd food by saying that his mum \"can make great food appear out of thin air" Hermione replies that this is impossible, since \"Food is the first of the five Principal Exceptions to Gamp's Law of Elemental Transfiguration...You can summon it if you know where it is, you can transform it, (or) you can increase the quantity if you've already got some\" (p.292-293) From this short dialog, we can see that even in the Wizarding world, people v (can/cannot) satisfy their v (limited/unlimited) wants, because even with magic they can only produce (limited/unlimited) food. Hermione's claim is a (positiveormative) statement that the exceptions to Gamp's Law reects the concept of v in the Wizarding world QUESTION 5 In any given month, Mark can produce 96 baseballs and Katie can produce 25 baseballs. Alternatively, Mark can produce 51 bats and Katie can produce 15 bats. What is Mark's cost of producing 24 bats? (i.e. his opportunity cost) Round your answer to two (2) decimal places, and include units of "baseballs" or "bats\QUESTION 7 10 points Save Answer Latvia and Norway produce steel and grain according to the following table: Steel (millions) Grain (millions) Latvia 10 9 Norway 30 50 Based on this table, we can say that has a comparative advantage in Steel. and has a comparative advantage in Grain. Furthermore, has an absolute advantage in Grain, an( v as an absolute advantage in Steel Norway Latvia QUESTION 8 10 points Save Answer Kareem, Janice, and Leo are selling concert tickets. Suppose for now that they are the only sellers in the market and have the following supply schedules: Price SJ SK SL 10 2 3 5 20 4 5 30 4 5 O 40 6 8 8 Please fill in the market supply (S) at each priceQ U ESTIO N 9 10 points Save Answer Suppose the Supply and Demand curves below represent the market for mp3 players (aka "iPods"). Due to the rise of streaming services (like Spotify) and more powerful smartphones, the equilibrium price and quantity of mp3 players has changed. Using the graph below, CLICK ON THE GRAPH to mark at least one possible new equilibrium p Selected Coordinates Clear QUESTION 10 10 points Save Answer Suppose the Supply and Demand curves below represent the market for espresso coffee. During an exam week, students flock to the stores to buy more espresso. Using the graph below, CLICK ON THE GRAPH to mark at least one possible new equilibrium p Selected Coordinates Clear Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit