Dmitri is a talented artist who sells hand-crafted goods on his website. Dmitri currently crafts and sells both crochet hats and pillows. He spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of his time is spent on each good. Hours Crafting Produced Choice (Crochet hats) (Pillows) (Crochet hats) (Pillows) A 8 0 4 0 B 6 N W 12 A N 17 N 6 19 m 0 0 20 On the following graph, use the blue points (circle symbol) to plot Dmitri's initial production possibilities frontier (PPF). 30 O 25 Initial PPF A 20 New PPF WS ACOn the following graph, use the blue points (circle symbol) to plot Dmitri's initial production possibilities frontier (PPF). 30 O 25 Initial PPF A 20 New PPF 15 PILLOWS 10 5 0 0 2 3 4 5 6 7 8 CROCHET HATS Suppose Dmitri is currently using combination D, producing one crochet hat per day. His opportunity cost of producing a second crochet hat per day is per day.vi. CENGAGE I MINDTAP Q Search this course HW#02 (Ch 02) 0 X 0 l l | | l l l l 0 'I 2 3 4 5 6 7 8 CROCHET HATS Suppose Dmitri is currently using combination D, producing one crochet hat per day. His opportunity cost of producing a second crochet hat per day is V per day. Dmitri is currently using combination C, producing two crochet hats per day. His opportunity cost of producing a third crochet hat per V per day. us analysis, you can determine that as Dmitri increases his production of crochet hats, his opportunity cost of producing one more V Suppose Dmitri buys a new tool that enables him to produce twice as many crochet hats per hour as before, but it doesn't affect his ability to produce pillows. Use the green points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more crochet hats per hour, Dmitri's opportunity cost of producing pillows is V it was previously. Continue without saving 0 l | | | l l l l 0 1 2 3 4 5 6 7 s CROCHET HATS Suppose Dmitri is currently using combination D, producing one crochet hat per day. His opportunity cost of producing a second crochet hat per day is V per day. Now, suppose Dmitri is currently using combination C, producing two crochet hats per day. His opportunity cost of producing a third crochet hat per day is V per dav- -nalysis, you can determine that as Dmitri increases his production of crochet hats, his opportunity cost of producing one more v s a new tool that enables him to produce twice as many crochet hats per hour as before, but it doesn't affect his ability to produce en points (triangle symbol) to plot his new PPF on the previous graph. Because he can now make more crochet hats per hour, Dmitri's opportunity cost of producing pillows is V it was previously. Grade It Now Save & Continue Continue without saving HW#02 (Ch 02) CROCHET HATS Suppose Dmitri is currently using combination D, producing one crochet hat per day. His opportunity cost of producing a second crochet hat per day is V per day. Now, suppose Dmitri is currently using combination C, producing two crochet hats per day. His opportunity cost of producing a third crochet hat per day is V per dav- From the previous analysis, you can determine that as Dmitri increases his production of crochet hats, his opportunity cost of producing one more crochet hat V . that enables him to produce twice as many crochet hats per hour as before, but it doesn 't affect his ability to produce iangle symbol) to plot his new PPF on the previous graph. . - crochet hats per hour, Dmitri's opportunity cost of producing pillows is V it was previously. Grade It Now Save & Continue Continue without saving X 0 l l | l l l l l 0 1 2 3 4 5 6 7 8 CROCHET HATS Suppose Dmitri is currently using combination D, producing one crochet hat per day. His opportunity cost of producing a second crochet hat per day is V per day. Now, suppose Dmitri is currently using combination C, producing two crochet hats per day. His opportunity cost of producing a third crochet hat per day is V per day. From the previous analysis, you can determine that as Dmitri increases his production of crochet hats, his opportunity cost of producing one more crochet hat V . higher than Suppose Dmitri buys a new tool that enables him to produce twice as many crochet hats per hour as be lower than not affect his ability to produce pillows. Use the green points (triangle symbol) to plot his new PPF on the previous graph. the same as Because he can now make more crochet hats per hour, Dmitri's opportunity cost of producing pillows is V it was previously. Grade It Now Save & Continue Continue without saving