Macroeconomics

1. Make a PPF for Ray, who can compose two blues songs in an hour, or four jazz songs in an hour. Include one point that is unobtainable for Ray and one that is inefficient. Make sure to label your axes, curve, and points.

2)  Illustrate the market for oranges with a supply and demand diagram. What would happen to equilibrium price and quantity if a citrus fungus attacked orange orchards, making many orange trees produce far fewer marketable fruits?