On the following graph, use the blue line (circle symbol) to plot Jake's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Latasha's PPF. BARLEY (Bushels) 200 180 160 140 120 100 80 60 40 20 0 0 100 200 300 400 500 600 700 800 900 1000 ALFALFA (Bushels) Jake's opportunity cost of producing 1 bushel of barley is barley is bushels of alfalfa. Because Jake has a barley, and Jake's PPF Latasha's PPF (?) bushels of alfalfa, whereas Latasha's opportunity cost of producing 1 bushel of opportunity cost of producing barley than Latasha, has a comparative advantage in the production of alfalfa. has a comparative advantage in the production of

ENGR.ECONOMIC ANALYSIS
14th Edition
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Chapter1: Making Economics Decisions
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Jake and Latasha are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest.

Alfalfa Barley ← (both in bushels per acre)

Jake 14 7

Latasha 30 6

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On the following graph, use the blue line (circle symbol) to plot Jake's production possibilities frontier (PPF), and use the purple line (diamond symbol)
to plot Latasha's PPF.
BARLEY (Bushels)
200
180
160
140
120
100
80
60
40
20
0
0
100 200 300 400 500 600 700 800 900 1000
ALFALFA (Bushels)
Jake's opportunity cost of producing 1 bushel of barley is
barley is
bushels of alfalfa.
Because Jake has a
barley, and
Jake's PPF
Latasha's PPF
?
bushels of alfalfa, whereas Latasha's opportunity cost of producing 1 bushel of
opportunity cost of producing barley than Latasha,
has a comparative advantage in the production of alfalfa.
has a comparative advantage in the production of
Transcribed Image Text:On the following graph, use the blue line (circle symbol) to plot Jake's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Latasha's PPF. BARLEY (Bushels) 200 180 160 140 120 100 80 60 40 20 0 0 100 200 300 400 500 600 700 800 900 1000 ALFALFA (Bushels) Jake's opportunity cost of producing 1 bushel of barley is barley is bushels of alfalfa. Because Jake has a barley, and Jake's PPF Latasha's PPF ? bushels of alfalfa, whereas Latasha's opportunity cost of producing 1 bushel of opportunity cost of producing barley than Latasha, has a comparative advantage in the production of alfalfa. has a comparative advantage in the production of
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