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) 140 126 112 98 84 70 56 42 28 14 0 0 70 140 210 280 350 420 490 560 630 700 SQUASH (Pounds) has an absolute advantage in the production of squash, and David's PPF Morgan's PPF ? has an absolute advantage in the production of maize. David's opportunity cost of producing 1 pound of maize is maize is pounds of squash. Because David has a comparative advantage in the production of maize, and pounds of squash, whereas Morgan's opportunity cost of producing 1 pound of opportunity cost of producing maize than Morgan, 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) 140 126 112 98 84 70 56 42 28 14 0 0 70 140 210 280 350 420 490 560 630 700 SQUASH (Pounds) has an absolute advantage in the production of squash, and David's PPF Morgan's PPF ? has an absolute advantage in the production of maize. David's opportunity cost of producing 1 pound of maize is maize is pounds of squash. Because David has a comparative advantage in the production of maize, and pounds of squash, whereas Morgan's opportunity cost of producing 1 pound of opportunity cost of producing maize than Morgan, has a has a comparative advantage in the production of squash.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text: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)
140
126
112
98
84
70
56
42
28
14
0
0
70
140
210
280 350 420 490
560
630 700
SQUASH (Pounds)
has an absolute advantage in the production of squash, and
David's PPF
Morgan's PPF
?
has an absolute advantage in the production of maize.
David's opportunity cost of producing 1 pound of maize is
maize is
pounds of squash. Because David has a
comparative advantage in the production of maize, and
pounds of squash, whereas Morgan's opportunity cost of producing 1 pound of
opportunity cost of producing maize than Morgan,
has a
has a comparative advantage in the production of squash.
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