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Microeconomics (30 marks) Question 1 (15 marks) lobstars fish O 50 PFF fish vs lobster 40 60 2 4 25 50 60, 50 6 O

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Microeconomics (30 marks) Question 1 (15 marks) lobstars fish O 50 PFF fish vs lobster 40 60 2 4 25 50 60, 50 6 O 40 2, 40 30 4, 25 20 10 16,0 0 LO N Lobster Refer to the above Q1 a(i) State the production levels for this economy at Point b. (1 mark) Q1 a(ii) What is the total opportunity cost of lobster when moving from point c to d? (1.5 marks) Q1 a(iii) What is the unit opportunity cost of each lobster when moving from c to d? (1.5 marks) Q1 a(iv) Which point(s) illustrated on the above PPF are unattainable? (1 mark)

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