Question

Question 2:
[10 Marks]
1. The market for pizza has the following demand and supply schedules:
Price
Quantity Demanded Quantity Supplied
Rs.1
2
3
21
18
15
12
5
10.
15
20
4
5
9
25
Graph the demand and supply curves. What is equilibrium price and quantity in this market?
2. Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an
hour. She spends 5 hours per day studying.
Draw Maria's production possibilities frontier for reading economics and sociology.
b. What is Maria's opportunity cost of reading 100 pages of sociology?
a.​

Answer 1

Answer:

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