Scenario: The following production possibilities schedules and curves represent the amount of corn and alfalfa that can be produced on an acre of land in Idaho and lowa. Idaho Farm These production possibilities schedules are shown in the figure. Production Possibility Curves For Idaho and lowa: Alfalfa and Corn Corn production in bushels per acre 360 320 280 lowa Farm's Production 240 Possibilities Curve 200 160 120 80 Idaho Farm's Production 40 Possibilities Curve 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Alfalfa production in tons per acre The opportunity cost of a bushel of corn in lowa is Production Possibility Schedules for Producing Alfalfa and Corn on Farms in Idaho and lowa Iowa Farm Alfalfa (tons Corn (bushels Alfalfa (tons Corn (bushels per acre) per acre) per acre) per acre) 0 120 0 240 1 105 1 200 2 90 2 160 3 74 2 3 120 ca 4 60 4 80 5 15 45 5 40 6 30 6 0 7 15 8 0 O A. 40 tons of alfalfa OB. 6 tons of alfalfa OC. 1 40 of a ton of alfalfa OD. 1 ton of alfalfa