Do not give written explanations. Provide handwritten graphical solutions. circled answers or solve mathematical problems (show ALL work). This work is to be done by hand and turned in during class. There is nothing to submit online Grading Rubric - 50 % of your grade will be determined on neatness and completeness I mean this! Zero is what you earn if you fail to follow the directions for neatness Neatness means: 0 Always, always, always use graph paper. No graph paper = no credit 0 Use a pen and or pencil in your own hand (no computers) = zero points if not followed 0 Use a ruler to draw graphs = zero points if not followed 0 All graphs labeled completely (see your book for models that are acceptable) 0 For mathematical problems, you must SHOW YOUR WORK 0 50% of your grade will be determined on if your drawing or solution is correct 1. \"Opportunity cost\" is one of the tougher ideas in economics. Let's make it easier by starting with some simple examples. In the following examples, nd the opportunity cost: Your answer should be a rate, as in \"1.5 widgets per year\" or \"6 lectures per month.\" Assume that these relationships are simple linear ones, so that if you put in twice the time you get twice the output, and half the time yields half the output. a. Erin has a choice between two activities: She can repair one transmission per hour or she can repair two fuel injectors per hour. What is the opportunity cost of repairing one transmission? b. Katie works at a customer service center and every hour she has a choice between two activities: answering 200 telephone calls per hour or responding to 400 emails per hour. What is the opportunity cost of responding to 400 phone calls? c. Deirdre has a choice between writing one more book this year or ve more articles this year. What is the opportunity cost of writing half a book this year, in terms of articles