IMPORTANT THING NUMBER 2: The assignment should be typed. You should give some indication of how...

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IMPORTANT THING NUMBER 2: The assignment should be typed. You should give some indication of how you got your answers. Pdfs of sloppy work on pages torn out of a spiral notebook are not acceptable. Screen shots or jpgs are unacceptable. Bottom line: if you'd hesitate to submit something to a supervisor at work, you should think twice about submitting it to me. YET NOTHER IMPORTANT THING: On Canvas I've posted tutorials on using Excel to construct diagrams; please consult it if necessary. 1. The following table describes the production possibilities for a particular economy: Opp. cost of a pizza pie in terms Production Pizza Wine Opp. cost of a barrel of wine in of barrels Alternative (Pies) (Barrels) terms of pizza pies of wine A 650 0 B 600 200 D E m 500 400 300 600 0 800 a. Use Excel to graph the Production Possibilities Frontier for this economy. b. Calculate the opportunity costs of the two goods and fill in the last two columns of the table. c. Starting from position D, what is the opportunity cost of producing one additional barrel of wine? d. Starting from production alternative C, what is the opportunity cost of producing an additional pizza pie? e. Starting at production alternative B, what is the opportunity cost of an additional barrel of wine? IMPORTANT THING NUMBER 2: The assignment should be typed. You should give some indication of how you got your answers. Pdfs of sloppy work on pages torn out of a spiral notebook are not acceptable. Screen shots or jpgs are unacceptable. Bottom line: if you'd hesitate to submit something to a supervisor at work, you should think twice about submitting it to me. YET NOTHER IMPORTANT THING: On Canvas I've posted tutorials on using Excel to construct diagrams; please consult it if necessary. 1. The following table describes the production possibilities for a particular economy: Opp. cost of a pizza pie in terms Production Pizza Wine Opp. cost of a barrel of wine in of barrels Alternative (Pies) (Barrels) terms of pizza pies of wine A 650 0 B 600 200 D E m 500 400 300 600 0 800 a. Use Excel to graph the Production Possibilities Frontier for this economy. b. Calculate the opportunity costs of the two goods and fill in the last two columns of the table. c. Starting from position D, what is the opportunity cost of producing one additional barrel of wine? d. Starting from production alternative C, what is the opportunity cost of producing an additional pizza pie? e. Starting at production alternative B, what is the opportunity cost of an additional barrel of wine?