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Professor Rush can bake 12 cookies or 2 pies in one hour. Professor Knight can bake 18 cookies or 4 pies in one hour. Professor Rush’s opportunity cost of producing an additional cookie is ____.

   When moving from Point B to Point C, the opportunity cost of an additional empanada is ____ pound(s) of chicken.

 Sally currently produces 14 pineapple pies and 7 coconut cakes. She could produce more pineapple pies without producing fewer coconut cakes. Sally is ____ her production possibilities frontier.

If a freeze destroys oranges before they are harvested, the equilibrium price of an orange ___, and the equilibrium quantity of oranges ____.

   Suppose that the government imposes a price ceiling at $8 per streaming subscription. As a result, ____ subscriptions will be bought and sold, and there will be a shortage of ____ subscriptions.

Bikes and Scooters are substitutes, and the price of scooters falls. As a result, there is now a ____ of bikes at the initial equilibrium price, and the equilibrium price of a bike will _____.

    Suppose that the government imposes a price ceiling at $8 per streaming subscription. There will be consumer surplus of ____, and producer surplus of ____.

   Suppose that this market is in equilibrium. There will be consumer surplus of ____, and producer surplus of ____.

The price of corn used to make tortillas falls. As a result, the equilibrium price of a tortilla will _____, and the equilibrium quantity of tortillas will _____.

Professor Rush can bake 12 cookies or 2 pies in one hour. Professor Knight can bake 18 cookies or 4 pies in one hour. Professor Knight has an absolute advantage in the production of ____ and a comparative advantage in the production of ____.