(Solved): pls help asap 5. Opportunity cost and production possibilities Teresa is a talented artist who sells ...

5. Opportunity cost and production possibilities Teresa is a talented artist who sells hand-crafted goods on her website. Teresa currently crafts and sells both crochet hats and baskets. She spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of her time is spent on each good. On the following graph, use the blue points (circle symbol) to plot Teresa's initial production possibilities frontier (PPF). Suppose Teresa is currently using combination D, producing one crochet hat per day. Her opportunity cost of producing a second crochet hat per day is per day. Now, suppose Teresa is currently using combination C, producing two crochet hats per day, Her opportunity cost of producing a third crochet hat per day is per day. Suppose Teresa is currently using combination D, producing one crochet hat per day. Her opportunity cost of producing a second crochet hat per day is per day. Now, suppose Terega is currently using combination C, producing two crochet hats per day. Her opportunity cost of producing a third crochet hat per day 15 per day. From the prevlous analysis, you can determine that as Terese increases her production of crochet hats, her opportunity cost of producing one more crochet hat Suppose Teresa buys a new tool that enables her to produce twice as many crochet hats per hour as before, but it doesn't affect her ability to produce baskets. Use the green points (triangle symbol) to plot her new ppF on the previous graph. Because she can now make more crochet hats per hour, Teresa's opportunity cost of producing baskets is