Refer to the graph below. Which of the following statements is correct? FRANCE ENGLAND Wine Wine 600 600 500 500 400 400 300 300 200 200 100 100 0 0 0 100 200 300 400 0 100 200 300 400 Cloth Cloth O a. The opportunity cost of wine is lower in France. O b. Both countries have the same opportunity cost of wine. O c. The opportunity cost of wine is lower in England. O d. Not enough information to indicate the opportunity cost of wine for either country.The graph below represents the market for Good X. The equilibrium price and quantity are: Market for Good X un Price Demand Supply 50 100 150 200 250 300 350 Quantity O a. $3; 100 O b. $4: 150 O c. $5; 100 O d. $3; 200The graph below represents the market for Good X. Which of the following statements is true? Demand and Supply Price $10 $9 Quantity $8 Demanded Quantity Supplied 2 4 5 6 7 8 9 10 Quantity O a. At the price of $8, there is a shortage of 6 units. O b. At the price of $3, there is a shortage of 4 units. O c. At the price of $1, there is a surplus of 8 units. O d. At the price of $6, there is a surplus of 4 units.The graph below is the PPF for an imaginary economy. Which of the following statements is correct? Y .D YA PPF XA XB X O a. The economy is more efficient producing at point A than point B. O b. Not all the resources are utilized when producing at point C. O c. It is impossible to move from point B to point A. O d. It is possible for the economy to reach point D.The graph below represents the market for electric cars. Which of the following will caus the demand curve to shift from Dj to D2? Price S D2 D1 P2 Q1 Q2 Quantity O a. A decrease in the price of gas O b. A drop in the price of electric cars O c. An increase in the price of gas O d. An increase in the price of semiconductors used in the production of all carsThe graph below represents the market for Good X. At a price of $5, there will be a: Market for Good X W Price - Demand N -Supply 50 100 150 200 250 300 350 Quantity O a. surplus of 200 units and a downward pressure on the market price O b. surplus of 100 units and a downward pressure on the market price O c. shortage of 100 units and an upward pressure on the market price O d. shortage of 200 units and an upward pressure on the market price