a. Draw a graph of Sunlands PPF and explain how your graph illustrates a tradeoff. b. If

Question:

a. Draw a graph of Sunland€™s PPF and explain how your graph illustrates a tradeoff.
b. If Sunland produces 150 kilograms of food per month, how much sunscreen must it produce if it achieves production efficiency?
c. What is Sunland€™s of producing 1 kilogram of food?
d. What is Sunland€™s of producing 1 litre of sunscreen?
e. What is the relationship between your answers to parts (c) and (d)?
Suppose that Sunland€™s production possibilities are given in the table.

Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...