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1. Consider the following production co-op that contains three members. Number of goods each person can produce in an hour: Each has 10 hours of

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1. Consider the following production co-op that contains three members. Number of goods each person can produce in an hour: Each has 10 hours of labor to allocate to production of guitars and drums. a. (5 points) Based on the above table, write the opportunity cost of producing one drum (in terms of guitars) for each of the members of the co-op. b. (10 points) Construct the production possibilities frontier for producing drums and guitars. Put guitars on the vertical axis and drums on the horizontal axis. Be sure to label your graph and indicate the slope of the production possibilities frontier. c. (5 points) Suppose that the price of a drum is $300 and a guitar is $200, who should make drums and who should make guitars

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