Economics response

complete your responses for each of the 5 questions and try to respond concisely (brief but comprehensive) to each question, PS1. Suppose that you live in an economy that has 300 workers (Labor), and policy makers are deciding to produce two goods: Wheat and Milk. Suppose that wheat requires 30 workers to produce one bushel of wheat, this means that using all workers into wheat production yields 10 bushels of wheat. Suppose that milk requires 10 workers to produce one crate of milk, this means that using all workers into milk production yields 30 crates of milk. Therefore, the economy faces the following productions possibilities frontier PPF Example.JPG 1.Now assume that 100 workers are banned from working in the economy. Identify what would be the potential problems that this economy would face. 2.Show that you have a deeper understanding of the factors of production by indicating what the other 3 factors of production besides labor are. 3.Enumerate 3 possible solutions to solve the problem in point 4.Assess how one of your possible solutions (enumerated in point #3) is implemented in the economy. 5.Scrutinize whether the solution you picked was the right one, would you rather improve another factor of production besides labor?