Sketch a production possibility frontier curve for beef and cheese that indicates

increasing opportunity costs of production.

$2.$ What is the relationship between production, consumption and trade?

Use the following output per worker information to answer questions $8-10$

Incantations per hour Spells per hour

Harry $123$

Hermione $168$

$3.$ What is each wizard$$s opportunity cost of casting spells?

$4.$ What is each wizard$$s opportunity cost of incantations?

$5.$ Who has a comparative advantage in casting spells?

$6.$ Who has an absolute advantage in incantations?