Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can either make 10 loaves of bread or40 muffins, while Julia can either make 12 loaves of bread or 60 muffins. Both Martha and Julia work 8 hours a day.s. Draw Martha's daily PPC.Instructions: Use the tool provided to draw Martha's PPC curve. Plot only the endpoints and locate these endpoints on the axes of thediagram.Loaves of bread100Loaves of bread90807060504030201001201089684726048362412Martha's PPC040 80 120 160 200 240 280 320 360 400Muffinsb. Draw Julia's daily PPC.Instructions: Use the tool provided to draw Julia's PPC curve. Plot only the endpoints and locate these endpoints on the axes of thediagram.Julia's PPCTools60 120 180 240 300 360 420 480 540 600Muffinsline 1OToolsline 1O c. What is the opportunity cost to each of making one loaf of bread?Martha's opportunity cost of making a loaf of bread:muffinsJulia's opportunity cost of making a loaf of bread:d. What is the opportunity cost to each of making one muffin?Instructions: Enter your responses rounded to two decimal places.loaves of breadMartha's opportunity cost of making a muffin:Julia's opportunity cost of making a muffin: [e. Who has the comparative advantage in making bread?O NeitherO JuliaO Marthaf. Who has the absolute advantage in making bread?O NeitherO MarthaO Juliamuffinsloaves of breadg. Suppose you are the owner of the bakery. If Julie and Martha are currently both spending all of their time making muffins, thenwhich of them should you ask to start making bread?O Martha because her opportunity cost of making bread is lower than Julio's.O Julia because her opportunity cost of making bread is higher than Martha's.O Julia because her opportunity cost of making bread is lower than Martha's.O Martha because her opportunity cost of making bread is higher than Julia's.

Opportunity cost is the cost of producing one good in terms of other good. Opportunity cost shows…

Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can either make 10 loaves of bread or 40 muffins, while Julio con either make 12 loaves of bread or 60 muffins. Both Martha and Julie work 8 hours a day. s. Draw Martha's daily PPC. Instructions: Use the tool provided to draw Martha's PPC curve. Plot only the endpoints and locate these endpoints on the axes of the diagram. Loaves of bread 100 Loaves of bread 90 80 70 60 50 30 20 10 0 120 108 96 84 72 60 48 36 24 12 Martha's PPC b. Draw Julia's daily PPC. Instructions: Use the tool provided to draw Julie's PPC curve. Plot only the endpoints and locate these endpoints on the axes of the diagram. 0 40 80 120 160 200 240 280 320 360 400 Muffins Julia's PPC Tools 60 120 180 240 300 360 420 480 540 600 Muffins line 1 O Tools line 1 O

Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can either make 10 loaves of bread or 40 muffins, while Julio con either make 12 loaves of bread or 60 muffins. Both Martha and Julie work 8 hours a day. s. Draw Martha's daily PPC. Instructions: Use the tool provided to draw Martha's PPC curve. Plot only the endpoints and locate these endpoints on the axes of the diagram. Loaves of bread 100 Loaves of bread 90 80 70 60 50 30 20 10 0 120 108 96 84 72 60 48 36 24 12 Martha's PPC b. Draw Julia's daily PPC. Instructions: Use the tool provided to draw Julie's PPC curve. Plot only the endpoints and locate these endpoints on the axes of the diagram. 0 40 80 120 160 200 240 280 320 360 400 Muffins Julia's PPC Tools 60 120 180 240 300 360 420 480 540 600 Muffins line 1 O Tools line 1 O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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+ m/StudentFunctions/Interface/acellus_engine.html?ClassID=486002746 YouTube Maps The PPF curve shows a curved, negative relationship between two goods. This means that an increase in the production of one good requires which of the following? A. The greater sacrifices of the other good. 1 B. The smaller sacrifices of the other good. C. The equal sacrifices of the other good. -2022 International Academy of Science. All Rights Reserved.
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