If the price doubles and the quantity supplied also doubles, the price elasticity of supply for the good is

If both producers and consumers believe that a product's price will rise in the future, then at the present, demand ________ and supply ________

A) decreases; decreases B) decreases; increases C) does not change; does not change D) increases; decreases E) increases; increases

In the above figure, what is the efficient quantity of hot dogs to produce?

A) 2 thousand per day B) 4 thousand per day C) 6 thousand per day D) The efficient quantity cannot be determined without knowing the PPF for this economy.