Question 1 (b,c,d). Production Possibility Frontier and Opportunity Cost [Ch.2,3] Cowcowland is a community that produces two goods, cheese and milk. The following table describes the production possibility frontier (PPF) for Cowcowland during 2018. Assume the PPF is linear between the points listed in the table. Points on PPF Milk (Gallons) Cheese (Pounds A 0 100 B 30 95 C 40 85 D 75 6 77 0 Note) Do Not Include Anything Other Than Numbers In Your Responses. For Example, Do Not Include Comma Or Units In Your Numbers. If your answer is a fraction, use the / symbol and reduce the fraction if possible. For example, if your answer is 20/15, reduce it to 4/3.Do Not Include Anything Other Than Numbers In Your Responses. For Example, Do Not Include Comma Or Dollar Sign In Your Numbers. If your answer is a whole number, write it that way. For example, write 5 rather than 5.0. Question 2 (0.5 points) b. Suppose Cowcowland is currently producing at point C on their PPF. What is the opportunity cost of producing one additional pound of cheese? Answer: ____ gallon of milk.Question 3 {0.5 points) c. If Cowcowland is currently producing at combination A. what is the opportunity cost of producing 40 more gallons of milk? Answer: ____ pounds of cheese. 3 Question 4 {0.5 points) d. What is happening to the opportunity cost of producing more milk if we move from point A to point C? ("x The slope of PPF gets steeper, meaning that the opportunity cost of producing \\J' . I more milk increases as we produce additional gallons of milk. r'm The slope of PPF gets steeper, meaning that the opportunity cost of producing ' _.J . . . M more milk decreases as we produce additional gallons of milk. {'1 The slope of PPF gets less steep, meaning that the opportunity cost of producing J more milk increases as we produce additional pounds of cheese. {"1 The slope of PPF gets less steep, meaning that the opportunity cost of producing more milk decreases as we produce additional pounds of cheese