3. The slope of a production-possibility frontier represents the opportunity cost of producing one good relative to another good. (a) Compare the opportunity cost under (i) a linear; (ii) convex, and (iii) concave production-possibility frontier. (b) Compare the combination of goods produced that is inside the curve, (ii) on the curve and (iii) outside the curve. (c) Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying. By drawing the production-possibilities frontier of Maria compute the opportunity cost of reading 100 pages of sociology?

There is no word count or number of pages required.