Exhibit 15-1 Production possibilities curves
In Exhibit 15-1, the production possibilities curves of wheat and corn for Nabia and Pada are presented. Suppose Pada produces at point B on its PPC. How much corn is the country able to produce?

Suppose consumer tastes shift toward the consumption of apples. Which of the following statements is an accurate description of the impact of this event on the market for apples?

a. There is an increase in the demand for apples and an increase in the quantity supplied of apples. b. There is an increase in the demand and supply of apples. c. There is an increase in the quantity demanded of apples and in the supply for apples. d. There is an increase in the demand for apples and a decrease in the supply of apples. e. There is a decrease in the quantity demanded of apples and an increase in the supply for apples.

At a carnival roulette wheel, a player can either win $10, $30, or $80 . If it costs $20 to play, should the player expect the game to be fair?

a. Yes, because it costs to play b. No, because on average the individual would be earning money on the wheel c. No, because all the carnival attractions are unfair d. Need more information