Sean and Yvette are farmers. Each one owns a 12-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) Sean 40 Yvette 28 7 On the following graph, use the blue line (circle symbol) to plot Sean's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Yvette's PPF. 120 108 Sean's PPF 96 84 Yvette's PPF 72 60 48 36 24 12 60 120 180 240 300 360 420 480 540 600 ALFALFA (Bushels) has an absolute advantage in the production of alfalfa, and has an absolute advantage in the production of barley. Sean's opportunity cost of producing 1 bushel of barley is bushels of alfalfa, whereas Yvette's opportunity cost of producing 1 bushel of barley is bushels of alfalfa. Because Sean has a ▼ opportunity cost of producing barley than Yvette, has a comparative advantage in the production of barley, and has a comparative advantage in the production of alfalfa. BARLEY (Bushels)

Sean and Yvette are farmers. Each one owns a 12-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) Sean 40 Yvette 28 7 On the following graph, use the blue line (circle symbol) to plot Sean's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Yvette's PPF. 120 108 Sean's PPF 96 84 Yvette's PPF 72 60 48 36 24 12 60 120 180 240 300 360 420 480 540 600 ALFALFA (Bushels) has an absolute advantage in the production of alfalfa, and has an absolute advantage in the production of barley. Sean's opportunity cost of producing 1 bushel of barley is bushels of alfalfa, whereas Yvette's opportunity cost of producing 1 bushel of barley is bushels of alfalfa. Because Sean has a ▼ opportunity cost of producing barley than Yvette, has a comparative advantage in the production of barley, and has a comparative advantage in the production of alfalfa. BARLEY (Bushels)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter13: Positive Externalities And Public Goods

Section: Chapter Questions

Problem 23P: HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow...

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