On the following graph, use the blue line (circle symbol) to plot David's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Morgan's PPF. MAIZE (Pounds) 160 144 128 112 96 80 64 48 32 16 0 0 80 160 240 320 400 480 560 640 720 800 SQUASH (Pounds) David's PPF David's opportunity cost of producing 1 pound of maize is maize is 4 pounds of squash. Because David has a lower comparative advantage in the production of maize, and Morgan Morgan's PPF Morgan has an absolute advantage in the production of squash, and David ? has an absolute advantage in the production of maize. 1 pounds of squash, whereas Morgan's opportunity cost of producing 1 pound of opportunity cost of producing maize than Morgan, David ▼ has a has a comparative advantage in the production of squash.

On the following graph, use the blue line (circle symbol) to plot David's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Morgan's PPF. MAIZE (Pounds) 160 144 128 112 96 80 64 48 32 16 0 0 80 160 240 320 400 480 560 640 720 800 SQUASH (Pounds) David's PPF David's opportunity cost of producing 1 pound of maize is maize is 4 pounds of squash. Because David has a lower comparative advantage in the production of maize, and Morgan Morgan's PPF Morgan has an absolute advantage in the production of squash, and David ? has an absolute advantage in the production of maize. 1 pounds of squash, whereas Morgan's opportunity cost of producing 1 pound of opportunity cost of producing maize than Morgan, David ▼ has a has a comparative advantage in the production of squash.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 8RQ: What is absolute advantage? What is comparative advantage?

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What is absolute advantage? What is comparative advantage?
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