Figure 3-15 Perry’s Production Possibilities Frontier Jordan’s Production Possibilities Frontier 51. Refer to Figure 3-15. Perry...

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Figure 3-15 Perry’s Production Possibilities Frontier Jordan’s Production Possibilities Frontier 51. Refer to Figure 3-15. Perry...

Figure 3-15

Perry’s Production Possibilities Frontier

Jordan’s Production Possibilities Frontier

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51. Refer to Figure 3-15. Perry has a comparative advantage in the production of

	a.	poems and Jordan has a comparative advantage in the production of novels.
	b.	neither good and Jordan has a comparative advantage in the production of novels.
	c.	novels and Jordan has a comparative advantage in the production of neither good.
	d.	novels and Jordan has a comparative advantage in the production of poems.

business economics

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Answer 1

Answer #1

Opportunity cost to produce Poems for

Perry = 2/12 = 0.16

Jordan = 4/12 = 0.33

Opportunity cost to produce Novels for

Perry = 12/2 = 6

Jordan = 12/4 = 3

Option(A)

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Answer 2

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