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Opportunity Cost and the Production Possibilities Curve Use the graph below to answer the following questions. 1. The economy is em'rentl},F at Point A, producing 9 storage sheds and 200 crab pus. What would be the opporhinity cost of producing 10 storage sheds instead? 2. The economy is still at Point A. What would be the opportunity cost to produce 400 crab pu's instead? 5'5" G1134ETII1011 Mil-nil Use the graph below to answer the following questions. Please answer in complete sentences. 1. TWhat is the maximum amount of smrds this economy could produce if it was also producing 90 guns? ProductiomPosslhlItes Curve for Guns and Swords H s Production of Swords 2. If the economyr was currentlyr producing at Point A, what would the oppoitunity cost of 70 additional guns be? olozosomsosomsosoloo Productinnofum 3. If the goveinnlent banned the production of guns, would it then be possible to produce more than 1000 swords? 'Why or whj,r not? 4. How does the Production Possibilities Curve demonstrate scarcity? 5. How does the Production Possibilities Curve demonstrate opportunity cost? How many of you have seen the movie Monsters Inc. ? Great movie, light? Well, there are also some economic elements playing out that you may have never realized. . Please watch 1h.is video, Econo'moxies: Monsters Inc. and answer the following questions. 1. 'What are the 4 factors of production? 2. 'What's the dim'mee between capital goods and consumer goods? 3. [ELIDH'B'lIOP-Dljs, what would cause the production possibilities curve to shi inward? What would cause it to shi outward