Question 1 [1' Marks] Assume that during the years 2022 to 225 Woodland Republic could produoe onlyr two commodities: tractors and ne. Also, assume that Woodland Republic can procuoe at an]:r of the positions represented by the production possibilit'lllr schedule below. -\"\" mun \"mn a. Suppose in 2022 the economy is producing at point D. What is the opportunity cost of producing l5 more tractors in 2023 [3- Marks} ANSWER a]: "" Answer be}: will enlarge as you type b. Use the figure below to answer the questions that follow. 1"\" Rice [tons]: Suppose, in 2024 the Minister of Finance in Woodland Republic advises the World Bank that in order to increase rice production and tractor manufacturing, each sector requires AUD50 billion, or a total of AUD100 billion. This AUD100 billion is madeavailable by the World Bank. Explain the impact of these AUD100 billion budgetary allocations to the economy of Woodland Republic. (2 Marks) ANSWER i): ii. Suppose in 2025 Woodland Republic begins to manufacture fertilizers. Explain the impact of the discovery of fertilizers on the Woodland Republic economy. (2 Marks) ANSWER ii)