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2. Everything remains the same as in problem #1 except we have a different time requirement table for each castaway to pick a cup of berries or catch one fish. Again, well assume that the time requirement remains constant, no matter how much time is devoted to these activities. Suppose each of them works 12 hours per day. I Cup of Berries I hours 2 hour 1 Fish l hour 3 hours Robinson Friday a. Graph the PPF of Robin and Friday separately in the following diagram 24579101 b. Before they meet cach other, if cach of them devotes half of their time to each food (6 hours on picking berries and 6 hours on catching fish), what is the output of berries and fish for Robinson and Friday separately? How about total output of berries and fish? Plot the total output point in the graph c. What is the opportunity cost of catching one fish for Robinson? What is the opportunity cost of catching one fish for Friday? What is the opportunity cost of picking one cup of berries for Robinson? What is the opportunity cost of picking one cup of berries for Friday? Who has the comparative advantage in catching fish? Who has the comparative advantage in picking berries? d. Show in figures that each castaway moves toward producing more of good in which he or she has a comparative advantage, total production rises
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Answer #1

Based on the given time requirement, total production of each good by the two individuals is shown below Robinson Frida Berries 12/1 12 12/2-б Fish 12/1 12 12/3 4 a) The required PPF is below: Berries 12 4 12 Fish b) The required production is below: Berries Fish Robinson Frida Total 6/2 3 3+3 6 6/3 2 3+2 5 The output line is made below:

Berries 12 New output Original output 12 Fish

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