On the following graph, use the blue line (circle symbol) to plot Yakov's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Ana's PPF. 200 100 Yakov's PPF 100 Ana's PPF has an absolute advantage in the production of barley. bushels of alfalfa, whereas Ana's opportunity cost of producing 1 bushel of opportunity cost of producing barley than Ana, has a comparativ BARLEY (Bushels) 100 80 00 40 0 0 100 200 300 400 500 600 700 800 900 1000 ALFALFA (Bushels) 20 0 O 100 200 300 400 500 600 700 800 900 1000 ALFALFA (Bushels) has an absolute advantage in the production of alfalfa, and Yakov's opportunity cost of producing 1 bushel of barley is barley is bushels of alfalfa. Because Yakov has a advantage in the production of barley, and has a comparative advantage in the production of alfalfa.

On the following graph, use the blue line (circle symbol) to plot Yakov's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Ana's PPF. 200 100 Yakov's PPF 100 Ana's PPF has an absolute advantage in the production of barley. bushels of alfalfa, whereas Ana's opportunity cost of producing 1 bushel of opportunity cost of producing barley than Ana, has a comparativ BARLEY (Bushels) 100 80 00 40 0 0 100 200 300 400 500 600 700 800 900 1000 ALFALFA (Bushels) 20 0 O 100 200 300 400 500 600 700 800 900 1000 ALFALFA (Bushels) has an absolute advantage in the production of alfalfa, and Yakov's opportunity cost of producing 1 bushel of barley is barley is bushels of alfalfa. Because Yakov has a advantage in the production of barley, and has a comparative advantage in the production of alfalfa.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

On the following graph, use the blue line (circle symbol) to plot Yakov's production possibilities frontier (PPF), and use the purple line (diamond
symbol) to plot Ana's PPF.
100
Yakov's PPF
100
140
Ana's PPF
D
has an absolute advantage in the production of barley.
bushels of alfalfa, whereas Ana's opportunity cost of producing 1 bushel of
opportunity cost of producing barley than Ana,
has a comparatives
BARLEY (Bushels)
100
8
O
O
100 200 300 400 500 600 700 800 900 1000
ALFALFA (Bushels)
100 200 300 400 500 600 700 800 900 1000
ALFALFA (Bushels)
has an absolute advantage in the production of alfalfa, and
Yakov's opportunity cost of producing 1 bushel of barley is
barley is
bushels of alfalfa. Because Yakov has a
advantage in the production of barley, and
(2)
has a comparative advantage in the production of alfalfa.

2. Comparative and absolute advantage
Yakov and Ana 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
(Bushels per acre)
(Bushels per acre)
Yakov
20
Ana
28

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