Problem Set 1: Production Possibilities and Opportunity Cost (1 Point) The following table contains some production possihilities for an economy for a given month where only hammers and nails are produced. Complete the following exercises: a) Assume that the production possibilities frontier is linear. Create the graph for such a curve (with hammers on x and nails on y axis) and determine the number of nails produced with a production of six hammers. b) What is the opportunity cost for one hammer? Where can you see this type of cost on the graph? c) If the production possibility frontier was \"bowed outward\