If the drop that you are seeing is red it ATF not engine oil and will have not effect on the engine oil loss. Yes engine oil can leak from this area as can transmission oil.
A few drops of oil on the ground does not account for the amount of oil loss that you are reporting. Engine is most likely burning the oil. If you think that the cost of oil is expensive then you probaly do not want to know the cost of the repairs that may be required.