SCENARIO 1: Assume a desert island economy in which labor is the only scarce resource and labor can be used to gather food (coconuts) or to build huts. There are six equally productive individuals on the island. Each inhabitant can gather 25 coconuts in one day or build one hut in one day. 3. Refer to Scenario 1. Draw the production possibilities frontier of the trade-off between coconuts and huts. 4. Refer to Scenario 1. Compute the opportunity cost of building two more huts in one day. 5. Refer to Scenario 1. Assume that in one day, two huts were built and 75 coconuts were gathered. What does this situation depict? 6. Refer to Scenario 1. What would have to occur for three huts to be produced along with 100 coconuts