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Complete the table below. Option Quantity of Rice (Qr) Quantity of Corn (Qc) QR QC QC/QR A B 1800 200 -200 C -300 -1.5 D

Complete the table below.

Option Quantity of Rice (Qr) Quantity of Corn (Qc) QR QC QC/QR
A
B 1800 200 -200
C -300 -1.5
D 200 -2.0
E 200 -500
F 1000

Base your answers here on the completed table. State whether the following statements are true or false.

  1. The farmer is specializing in the production of rice at option F.
  2. The farmer can raise its output of rice by 200 units if he/she raises the output of corn by 200 units.
  3. Between Options B and C, the opportunity cost of producing an extra unit of rice is 1.5 of corn.
  4. Between Options B and C, the opportunity cost of producing an extra unit of corn is 2/3 of a unit of rice.
  5. The production possibilities frontier shows that the opportunity cost of producing rice is increasing as more rice is produced.

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