Question 1. Production Possibility Frontier and Opportunity Cost |Ch.2,3] (2.5 marks) Cowcowland is a community that produces two goods, cheese and milk. The following table describes the production possibility frontier (PPF) for lCowcowland during 2018. Assume the PPF is linear between the points listed in the table. PoinrsonPPF A O 100 B 30 95 C 40 85 D 75 6 E 7'? O a. [graphing question] Draw a graph of Cowcowland's PPF for 2018 based on the information contained in the table. In your graph, measure cheese (C) on the vertical axis and milk (M) on the horizontal axis. b. Suppose Cowcowland is currently producing at point C on their PPF. What is the opportunity cost of producing one additional pound of cheese? e. If Cowcowland is currently producing at combination A, what is the opportunity cost of producing 40 more gallons ofmilk'? d. What is happening to the opportunity cost of producing more milk ifwe move from point A to point C