Question: Pls provide a and b answer.plss Question 1 (7 Marks) Assume that during the years 2022 to 2025 Woodland Republic could produce only two commodities:

Pls provide a and b answer.plss

Question 1 (7 Marks) Assume that during the years 2022 to 2025 Woodland Republic could produce only two commodities: tractors and rice. Also, assume that Woodland Republic can procuce at any of the positions represented by the production possibility schedule below. A D F F G H Tractors 11 13 14 Rice (in tons] 100 95 35 70 50 30 0 a.Suppose in 2022 the economy is producing at point D. What is the opportunity cost of producing 6 more tractors in 2023 (3 Marks) ANSWER a): ....#214 245324040924 194" b.Use the figure below to answer the questions that follow Tractors -PPF 14 -PPFA PPF, PPF 2 100 Rice (tons) i. Suppose, in 2024 the Minister of Finance in Woodland Republic advises the World Bank that in order to increase rice production and tractor manufacturing, each sector requires AUD50 billion, or a total of AUD100 billion. This AUD100 billion is made available by the World Bank. Explain the impact of these AUD100 billion budgetary allocations to the economy of Woodland Republic. (2 Marks) ANSWER b)

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