Hi can you please answer this question thank you Erhan and Panikos produce hamburgers (H) and steaks (S). Suppose that the Erhan's PPF isdefined by 950QH+425Qs = 1900. What is the opportunity cost of one hamburger?O A. 2 steaks.OB. 12 steak.O C. 3 steaks.O D. It depends on which axis the quantity of hamburgers is located.O E. None of the above.Erhan and Panikos produce hamburgers (H) and steaks (S). Suppose that Erhan's PPF is flatterthan Panikos' PPF, with the quantity of hamburgers on the horizontal axis. Given thisinformation, which of the following can you conclude?O A. The opportunity cost of hamburgers is lower for Erhan than for Panikos.O B. The relative price of hamburgers is lower for Erhan than for Panikos.O C. Erhan has a comparative advantage in hamburgers.O D. Panikos has a comparative advantage in hamburgers.O E. Both statements A and C are correct.Josel spends his time producing hats and belts. Below is his PPF:Quantity of Belts(B)200175150125100755025A (0,100)1+ ISave Answer20B(20,80)C(40,50)D(50,0)PPF40 60 80 100 120 Quantity of Hats (H)Suppose Josel is currently producing 30 hats. If he wants to produce efficiently, what is thequantity of belts Josel can produce?O A. 45.O B. 50.O C. 60.O D. 65.O E. None of the above.

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Erhan and Panikos produce hamburgers (H) and steaks (S). Suppose that the Erhan's PPF is defined by 950QH+425Qs = 1900. What is the opportunity cost of one hamburger? O A. 2 steaks. O B. 1/2 steak. O C. 3 steaks. O D. It depends on which axis the quantity of hamburgers is located. O E. None of the above.

Erhan and Panikos produce hamburgers (H) and steaks (S). Suppose that the Erhan's PPF is defined by 950QH+425Qs = 1900. What is the opportunity cost of one hamburger? O A. 2 steaks. O B. 1/2 steak. O C. 3 steaks. O D. It depends on which axis the quantity of hamburgers is located. O E. None of the above.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter13: General Equilibrium And Welfare

Section: Chapter Questions

Problem 13.3P

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