10. A country named Meridian produces just two goods-solar panels and lithium-ion batteries. It faces the...

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10. A country named Meridian produces just two goods-solar panels and lithium-ion batteries. It faces the two production possibilities curves in the graph below. Production Possibilities Curves for Meridian e(0, 70) 70 WO Solar Panels 30 20- f(1,58) 60 50 a(0, 50) 40 b(1,42) 10- 0 0 c(2,24) g(2, 34) d(3,0) 2 3 Lithium-Ion Batteries a. Meridian initially faces the lower production possibilities curve. What is the opportunity cost of batteries in terms of panels when Meridian moves from point a to b? from point b to c? from point c to d? Do your answers satisfy the law of increasing opportunity costs? Why or why not? b. After a technological improvement Meridian faces the upper production possibilities curve. What is the opportunity 4) 10. A country named Meridian produces just two goods-solar panels and lithium-ion batteries. It faces the two production possibilities curves in the graph below. Production Possibilities Curves for Meridian e(0, 70) 70 WO Solar Panels 30 20- f(1,58) 60 50 a(0, 50) 40 b(1,42) 10- 0 0 c(2,24) g(2, 34) d(3,0) 2 3 Lithium-Ion Batteries a. Meridian initially faces the lower production possibilities curve. What is the opportunity cost of batteries in terms of panels when Meridian moves from point a to b? from point b to c? from point c to d? Do your answers satisfy the law of increasing opportunity costs? Why or why not? b. After a technological improvement Meridian faces the upper production possibilities curve. What is the opportunity 4)