1.4 Alex, Bob, Clara, Delilah, and Ethan (A, B, C, D, E) can each produce either trousers (T) or shirts (S). The number of each good each of them can produce per day is given by: Trousers per Day Shirts per Day Alex 10 50 Bob 60 30 Clara 20 40 Delilah 20 30 Ethan 60 15 Assume each agent has constant marginal rate of technological transformation. Derive the production possibility frontier mathematically and provide a graph of the production possibility frontier (15%) 1.5 If each pair of trousers can be sold for three times the price a shirt, then what should each of the agents A, B, C, D, E produce, and how many total trousers and shirts should be made? (5%) 1.6 Repeat Section 1.5, but when each pair of trousers is sold for twice the price of a shirt (5%) 1.4 Alex, Bob, Clara, Delilah, and Ethan (A, B, C, D, E) can each produce either trousers (T) or shirts (S). The number of each good each of them can produce per day is given by: Trousers per Day Shirts per Day Alex 10 50 Bob 60 30 Clara 20 40 Delilah 20 30 Ethan 60 15 Assume each agent has constant marginal rate of technological transformation. Derive the production possibility frontier mathematically and provide a graph of the production possibility frontier (15%) 1.5 If each pair of trousers can be sold for three times the price a shirt, then what should each of the agents A, B, C, D, E produce, and how many total trousers and shirts should be made? (5%) 1.6 Repeat Section 1.5, but when each pair of trousers is sold for twice the price of a shirt (5%)