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Raphael and 5usan are farmers. Each one owns a 20-acre plot of land

2. Comparative and absolute advantage


Raphael and 5usan are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of barley and alfalfa each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing barley or alfalfa or to produce barley on some of the land and alfalfa on the rest.


Barley

(Bushels per acre)

Alfalfa

(Bushels per acre)

Eric204
Ginny287

On the following graph, use the blue line (circle symbol) to plot Rapheels production possibilities frontier (PPF), and use the purple tine (diamond symbol) to plot Susan's PPF

Homework (Ch 03) On the following graph, use the blue line (circle symbol) to plot Rapheels production possibilities frontier (PPF), and use the purple tine (diamond symbol) to plot Susans PPF 200 180 Raphaels PPF 160 140 t 120 t Susans Ppp 100 80 60 40 20 100 200 ว00 400 500 000 700 800 900 1000 BARLEY (Bushels)

V has an absolute advantage in the production of barley, andY has an absolute advantage in the production of alfalfa. Raphaels opportunity cost of producing 1 bushel of alfalfa is alfalfa is comparative advantage in the production of aifaifa, andhas a comparative advantage in the production of barley bushels of barley, whereas Susans opportunity cost of producing 1 bushel of hasa bushels of barley. Because Raphael has opportunity cost of producing alfalfa than Susan, Grade It Now Save & Continue Continue without saving


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