Elijah and Aneesha are farmers. Each one owns a 16-acre plot of land. The following table shows the amount of maize and squash each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing maize or squash or to produce maize on some of the land and squash on the rest. Elijah Aneesha SQUASH (Pounds) On the following graph, use the blue line (circle symbol) to plot Elijah's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Aneesha's PPF. 160 144 128 112 96 80 64 48 32 16 0 Maize Squash (Pounds per acre) (Pounds per acre) 6 6 20 5 0 80 160 240 320 400 480 560 640 720 800 MAIZE (Pounds) 144 Elijah's PPF Aneesha's PPF has an absolute advantage in the production of maize, and Elijah's opportunity cost of producing 1 pound of squash is squash is pounds of maize. Because Elijah has a comparative advantage in the production of squash, and (?) has an absolute advantage in the production of squash. pounds of maize, whereas Aneesha's opportunity cost of producing 1 pound of opportunity cost of producing squash than Aneesha, has a has a comparative advantage in the production of maize.

Elijah and Aneesha are farmers. Each one owns a 16-acre plot of land. The following table shows the amount of maize and squash each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing maize or squash or to produce maize on some of the land and squash on the rest. Elijah Aneesha SQUASH (Pounds) On the following graph, use the blue line (circle symbol) to plot Elijah's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Aneesha's PPF. 160 144 128 112 96 80 64 48 32 16 0 Maize Squash (Pounds per acre) (Pounds per acre) 6 6 20 5 0 80 160 240 320 400 480 560 640 720 800 MAIZE (Pounds) 144 Elijah's PPF Aneesha's PPF has an absolute advantage in the production of maize, and Elijah's opportunity cost of producing 1 pound of squash is squash is pounds of maize. Because Elijah has a comparative advantage in the production of squash, and (?) has an absolute advantage in the production of squash. pounds of maize, whereas Aneesha's opportunity cost of producing 1 pound of opportunity cost of producing squash than Aneesha, has a has a comparative advantage in the production of maize.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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