Please, sir, I want a clear, comprehensive and tidy answer. Please, I do not want the answer in handwriting and not in photography. I want it written here, please, sir.

Que stion 1 Bill can produce either tables or chairs. Bill can work up to 1D hours a day. His production possibilities are given in the table below: {3 Marks) 1) Explain production possibilities frontier {PPF} by putting tables on the Horizontal axis and chairs on the vertical axis. What is Bill's opportunity cost of producing one additional table? 2) Currently Bill is producing TD tables and 123 chairs. a) Is this allocation of res ources efcient? Why? b) Show this allocation on the graph and advise Bill how he can be more efcient. E JuestionZ Explain by applying these concepts with examples. [2 Marks) a. Rational people respond to incentives b. Role of prices in allocating resources