1)Please use this google drive link to download the answer file.       

https://drive.google.com/file/d/16D7XFgwi3Srru9Ty8fJEQeliMbD6Q-B5/view?usp=sharing

Note: If you have any trouble in viewing/downloading the answer from the given link, please use this below guide to understand the whole process. 

https://helpinhomework.org/blog/how-to-obtain-answer-through-google-drive-link 

2)

A ) Ppcurve is a curve which shows all possible combination of two goods, which an economy can produce with available technology with full and efficient use of its given resources.

if the output of good Y is increase , the economy must produce less quantity of other good x.

B) ppf convex to the origin if MRT is decreasing i.e less and less units of commodity are sacrificed to gain an additional unit of another commodity.

This means in opportunity cost is that, we have to give up one quantity of good X to produce one quantity of good Y.

C) the law of increasing opportunity cost is the concept to increase the production of good X, due to improve in technology, the opportunity cost of producing the next unit increases. This comes about as reallocate resources to produce one good that was better suited to produce the original good.

D) i) marginal cost : is the additional cost incurred in the production of one more unit of a good or services.

Calculation of mc : to produce one more unit of canola we have to reduce one units of wheat. Example canola is 3.5 and produce one more means 4.5 and wheat is 4 we have lose one unit of wheat so MC is 1/1 = 1. And another unit of canola we have to lose one so again MC will become 1.

ii) relationship between MC and opportunity cost :

MC is how much it would cost to produce one more unit . So , we had to lose one unit to produce one unit.

Opportunity cost is the amount of money that could have been earned through the the next best alternative is of the resources. So , the opportunity cost is one that we had to lose.

iii) The MC curve is generally upward sloping, because diminishing marginal returns means that additional units are more costly to produce.

iv) calculation of MB from B to A

The marginal benefit is 2 and cost is 2 means we gain 2 units of wheat if we lose one 2 unit of canola.

E ) This analysis or wrong because marginal benefits are the maximum amount a consumer will pay for an additional good and services. The marginal benefits generally decreases as consumption increases. But it doesn't mean that they have to pay whether they are able or not.

F) ??????Allocative efficiency means producer supply the quantity of each product that consumers demand. only one of the productively efficient choices will be the allocatively efficient choice for society as a whole. Example if a firm produce goods and services on consumers demand means according their needs and wants , when the marginal cost in marginal utility of goods and services are equal then Allocative efficiency is achieved.

3)Lets us understand the following Hazards asked above In simple words and with the help of an Examples, So lets begin - 1. Physical Hazards :- These are the thing which can cause harm to the person because of their physical characterstics. Examples of Physical Hazrds - 1.Slipping 2.Tripping 3.Falling 4.Fire 5.Noise etc. The physical harm caused these 5 factors to a person in known Physical Hazards. Now lets understand about 2.Moral Hazards :- Moral hazards occurs after the trasaction is done. Moral hazards are the hazards or risk that the borrower might engage in undesirable or immoral activities which results in loss of the money of lenders. Example of Moral Hazard - Suppose a person lends money to a borrower without having a proper knowledge about that person and the borrower losses all that money in casino, This loss of the money of lendor is said to be Moral Hazards. Now let us understand what is 3.Morale Hazard :- it is an insurance term used to describe an insured person's attitude about his or her belongings that increases the probability of occurrence of a loss. Example of Morale Hazards - Suppose a person has a phone insurance but after some years that phone becomes outdated and the person no longer cares about the phone, Now he is indifferent to his phone about getting damaged because he insurance would allow him to get a new phone. The change in the attitude of a person about his phone to get damaged is known as Morale Hazards. Now let us understand what is 4.Legal Hazards :- A Legal Hazard is an increase in the possibility of a loss because of legal actions. In simple words A Legal Hazards increases the possibilities that a loss will occur because of court actions.