05 Jun Question Topic
Question
Topic
* Four Problem-Solving Questions that require written answers
1.1 You need to follow an appropriate format explained below. Not following appropriate format will cause loss of some marks.
· All written answers must be clearly typed and printed. Hand-written answers will NOT be accepted.
· All assignment questions and sub-questions should be typed in order at the heading.
· Separate each main question by different page. For example, if Question 1 (a) (b) (c) and (d) are answered on pages 1-2, then start Question 2 on page 3, etc.
1.2 The answers should be written clearly and concisely with the main points only, and avoid irrelevant points. In your answers,
· You should analyse, explain and show how and why you draw your answers. Providing just answers without explanation will not receive full marks.
· You should also include appropriate and relevant diagrams, charts and tables together in your explanation. Draw them using Microsoft Word/Excel/Power Point tools, NOT hand drawn.
2. Assignment Questions
Question 1 – 10 marks
Ethanol
(barrels per day)
Food crops
(tonnes per day)
70
0
64
2
54
4
40
6
22
8
0
10
Part A
Australia produces ethanol from sugar cane, and the land used to grow sugar cane is used to grow food crops. Suppose that Australia’s production possibilities for ethanol and food crops are as in the table.
(a) If Australia increases its production of ethanol from 40 barrels per day to 54 barrels per day, what is the opportunity cost of an additional barrel of ethanol? (1 mark)
(b) Does Australia face an increasing opportunity cost of ethanol? What feature of Australia’s PPF illustrates increasing opportunity cost? (1 mark)
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