(Solved): please help 8. Opportunity cost and production possibilities Ciancy is a skilled toy maker who is ab ...

8. Opportunity cost and production possibilities Ciancy is a skilled toy maker who is able to produce both trucks and balls. He has 8 hours a day to produce toys. The following table shows the daily output resulting from verious possibie combinations of his time. On the following graph, use the blue points (circle symbol) to plot Clancy's initial production possibility frontier (PPF). Suppose Clancy is currently using combination D, producing 1 truck per day. His opportunity cost of producing a second truck per day is per day. Suppose Clancy is currently using combination D, producing 1 truck per day. His opportunity cost of producing a second truck per day is per day. Now, suppose Clancy is currently using combination C, producing 2 trucks per day. His opportunity cost of producing a third truck per day is per day. From the previous analysis, you can determine that as Clancy increases his production of trucks, his opportunity cost of producing 1 more truck Suppose Clancy buys a new tool that enables him to produce twice as many trucks per hour as before, but it doesn't affect his ability to produce bails. Use the green points (triangie symbol) to plot hisinew pef on the previous graph. Because he can now make more trucks per hour, Ciancy's opportunity cost of producing balls is it was previously.