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Question 4 (4 marks) Below are some production possibilities of bows and arrows, for the mythical land of Griffenland. Use the data to answer
Question 4 (4 marks) Below are some production possibilities of bows and arrows, for the mythical land of Griffenland. Use the data to answer the questions. Product A Bows 0 B2 C D E F 4 6 8 11 Arrows 45 42 36 29 15 0 a. Griffenland is currently producing at Combination B. How many arrows could be produced if the production of bows increased by 6? (1 mark) b. What is the opportunity cost of producing 6 bows (Combination D) rather than Combination C? (1 mark) c. If Griffenland is producing at Combination C, what is the opportunity cost of producing 6 more arrows? (1 mark) d. Draw the production possibilities curve for Griffenland. Be sure to label your graph accurately. (1 mark) Question 5 (8 marks) dolo found in Question 1. calculate (to 2 decimal places) the elasticity of
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