Q1 If the production possibilities frontier can be expressed as 4X' + Y' : 16 then the point X = 1; Y = 4 is a. outside the production possibilities frontier b. on the production possibilities frontier c. inside the production possibilities frontier d. in the wrong quadrant to be on the graph Q2 Suppose you can write generic supply and demand curves such that Q5 2 A + BP and Q9 2 D + C P. If price must reach a certain level before rms supply anything, A must be a. positive b. negative c.0 Q3 The Ricardian notion of diminishing returns implies that a. as more input is used more output will be made. b. as more input is used less output will be made. 0. as more input is used the increase in output will increase. (1. as more input is used the increase in output will decrease