Hector and Albert are bakers who can make either cakes or pies. Below is a graph showing their production possibilities curves (PPC) for these items. Cake Albert's PPC 4 Hector's PPC 2 8 Pie Use the information from the above graph to answer the following questions. For opportunity cost please enter numeric answers (ie. 4 or 1/4 not "Four" or "one fourth"), for the question about comparative advantage just type either "Albert" or "Hector" into the submission box. What is Hector's opportunity cost for one cake? What is Albert's opportunity cost for one pie? Who has comparative advantage in making cake?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Hector and Albert are bakers who can make either cakes or pies. Below is a graph showing their
production possibilities curves (PPC) for these items.
Cake
6.
- Albert's PPC
Hector's PPC
2
8.
Pie
Use the information from the above graph to answer the following questions. For opportunity cost
please enter numeric answers (ie. 4 or 1/4 not "Four" or "one fourth"), for the question about
comparative advantage just type either "Albert" or "Hector" into the submission box.
What is Hector's opportunity cost for one cake?
What is Albert's opportunity cost for one pie?
Who has comparative advantage in making cake?
4-
Transcribed Image Text:Hector and Albert are bakers who can make either cakes or pies. Below is a graph showing their production possibilities curves (PPC) for these items. Cake 6. - Albert's PPC Hector's PPC 2 8. Pie Use the information from the above graph to answer the following questions. For opportunity cost please enter numeric answers (ie. 4 or 1/4 not "Four" or "one fourth"), for the question about comparative advantage just type either "Albert" or "Hector" into the submission box. What is Hector's opportunity cost for one cake? What is Albert's opportunity cost for one pie? Who has comparative advantage in making cake? 4-
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