(Solved): The graph above presents the PPC and a community indifference curve in an economy that produces two ...

The graph above presents the PPC and a community indifference curve in an economy that produces two goods \( X \) and \( Y \). If things are as presented in the graph, what are Quantity of \( X \) and \( Y \) produced? Quantity of \( X \) and \( Y \) consumed? Relative price of \( X \) ? If price of \( X \) is \( \$ 5 \), what is the price of \( Y \) ? Based on your observations as noted in Question 1 , Does this economy have competitive markets for either or both of the two products \( X \) and \( Y \) ? Explain your answer.