Question 2 A lone person, without tools, living on an island spends 10 hours every day trying to get two items: fish and Not yet answered coconuts. His production possibilities schedule is given below. Marked out of a) Complete columns 3 and 4. (K/U: 3 marks) 15.00 Production Coconuts Fish Opportunity Cost of Opportunity Cost of Flag question Scenario Each Extra Fish Each Extra Coconut A 24 B 20 C 12 2 D 3 b) Do these results confirm to the law of increasing opportunity cost? Explain. (A: 2 marks) c) What will happen to the production possibilities curve if the person got a fishing net? Explain. (T/I: 3 marks) d') What will happen to the production possibilities curve if the person worked 12 hours a day? Explain. (T/1: 3 marks) e) Draw a graph for part (c) and another graph for part (d). Take a photo and then attach the graph. (A: 4 marks) B E Production Coconuts Fish Opportunity Cost of Opportunity Cost of Scenario Each Extra Fish Each Extra Coconut A 24 20 C 12 2 D 3Question 3 A factory produces two goods: ice cream cones and robots. The production possibilities schedule is given below. Not yet answered a) Complete columns 3 and 4. (K/U: 4 marks) Marked out of 15.00 Production Ice Cream Robots Opportunity Cost of Opportunity Cost of Scenario Cones Each Extra Robot Each Extra Ice Cream Cone PFlag question A 80,000 B 60,000 C 40,000 2 D 20,000 E b) Do these results confirm to the law of increasing opportunity cost? Explain. (A: 2 marks) c) Is it possible for this factory to produce 3 robots and 30,000 ice cream cones? Explain your answer. (A: 2 marks) d) Is it possible for this factory to produce 1 robot and 44,000 ice cream cones? Explain your answer. (A: 2 marks) e) What will happen to the production possibilities frontier (PPF) if the factory got better technology for making robots? (A: 3 marks) () Refer to part (e). Draw a graph to show how the PPF changes when there is a technological improvement in the production of robots. (A: 2 marks) B a) Complete columns 3 and 4. Production Ice Cream Robots Opportunity Cost of Opportunity Cost of Scenario Cones Each Extra Robot Each Extra Ice Cream Cone A 80,000 B 60,000 C 40,000 D 20,000 3 E