Question 2. Imagine the country of Zed, which has the following production possibilities curve: Tanks          Noodles          0            51      100            45                         200            38     300            30     400            21     500            11     600              0 a) What is the opportunity cost between tanks and noodles?  Is it constant? Graph the ppc. b) True, false, uncertain, and explain: “This economy should produce 30 noodles and 300 tanks because that is the most even distribution of  resources between the two goods.”

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.