(Solved): Refer to the following production possibilities table for consumer goods (outomobiles) and capital ...

Refer to the following production possibilities table for consumer goods (outomobiles) and capital goods (forklifts): a. Show these data graphically. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total) Upon what specific assumptions is this production possibilities curve based? b. If the economy is at point C, what is the (opportunity) cost of producing two more automobiles? forklifts What is the (opportunity) cost of six more forklifts? automobiles Which characteristic of the production possibilities curve reflects the law of increasing opportunity costs: its shape or its length? c. If the economy characterized by this production possibilities toble and curve is producing 3 automobiles and 20 forklifts, what could you conclude about its use of its available resources? The economy is its available resources. d. Is production at a point outside the production possibilities curve currently possible? Could a future advance in technology allow production beyond the current production possibilities curve? Could international trade allow a country to consume beyond its current production possibilities curve?