PRODUCTION POSSIBILITY CURVE EXERCISE

The following data show what combinations of corn 8: beef can be produced annuallyr from a given piece of land. CORN IBUSHELSI BEEF [POUNDSI 1D.U{1 3.D 500 EDD- 1.D 4,D 1.20'3 zoos 1.4DD 1.50D {a} For the data above. draw the Production Possibility Euros for this piece of land. {2 marks} {b} Can this acreage produce sooo bushels of corn and EDD pounds of beef? {2 marks] {c} Can this acreage produce 8,EIDD bushels of corn and QDIJ pounds of beef? {2 marks} {d} What is the opportunity cost of expanding beef production from EDD to 1.20:] pounds per annum'? {1 marks} {e} What would be required for this community to go beyond the production possibility curve? [3 marks]