Raph PPF(production possibility frontier) express MRT, revenue, opp cost, supply ect.
production function for corn: C2L^0.5
production function for other crops: O4L^0.5
Total units: 100 units
Graph PPF with C on the horizontal axis and O on the vertical axis. Derive an expression for the marginal rate of transformation (MRT) as a function of C and O. Discussion oppertunity cost. Describe how the supply of C and O change with changes in Pc and Po
Two short answer questions (with 5 sub questions each)! Just draw the graph and explain it a little bit. Ill attach the question later in word file.