The following TWO questions refer the diagram below, which illustrates the PPFs for two producers, A and B. y 240L 200 PPFA PPFB X 200 480 6. Which of the following statements is/are TRUE? 1. The marginal cost of producing y is lower for producer A than for producer B. 2. Producer A has the absolute advantage in producing both goods. 3. Producer A has the comparative advantage in producing both goods. a) 1 and 2 only. b) 1 and 3 only. c) 1 only. d) 2 only. 7. Suppose that - in total - 240 units of good y are efficiently produced. How much of good x will be produced, in total? a) 480 units. b) 200 units. c) 400 units. d) None of the above