David and Morgan are farmers. Each one owns an 18-acreplot of land. The following table shows the amount ofzucchini and watermelon each farmer can produce per yeaon a given acre. Each farmer chooses whether to devote a= acres to producing zucchini or watermelon or to producezucchini on some of the land and watermelon on the rest.DavidMorganWATERMELON (Pounds)180162144On the following graph, use the blue line (circle symbol) to pDavid's production possibilities frontier (PPF), and use thepurple line (diamond symbol) to plot Morgan's PPF.12610090725436180Zucchini(Pounds per acre)01218Watermelon(Pounds per acre)36+90 100 270 360 450 540 630 720 810 900ZUCCHINI (Pounds)David's PPFMorgan's PPPhas an absolute advantage in the production of zucchinand has an absolute advantage in the production ofwatermelon.David's opportunity cost of producing 1 pound of watermeis pounds of zucchini, whereas Morgan's opportunitycost of producing 1 pound of watermelon ispounds of zucchini. Because David has ahigherloweropportunity cof producing watermelon than Morgan, as a comparatadvantage in the production of watermelon, andcomparative advantage in the production of zucchini.has aA-Z David and Morgan are farmers. Each one owns an 18-acreplot of land. The following table shows the amount ofzucchini and watermelon each farmer can produce per yeaon a given acre. Each farmer chooses whether to devote aacres to producing zucchini or watermelon or to producezucchini on some of the land and watermelon on the rest.DavidMorgan180162On the following graph, use the blue line (circle symbol) to pDavid's production possibilities frontier (PPF), and use thepurple line (diamond symbol) to plot Morgan's PPF.14412610090725436180DavidZucchini(Pounds per acre)12180MorganWatermelon(Pounds per acre)690 180 270 360 450 540 630 720 810 900ZUCCHINI (Pounds)-ODavid's PPFMorgan's PPFhas an absolute advantage in the production of zucchinhas an absolute advantage in the production ofwatermelon.?isDavid's opportunity cost of producing 1 pound of watermepounds of zucchini, whereas Morgan's opportunitycost of producing 1 pound of watermelon ispounds of zucchini. Because David has a opportunity cof producing watermelon than Morgan, has a comparatadvantage in the production of watermelon, and has acomparative advantage in the production of zucchini.|||OA-ZA

Absolute advantage is different from comparative advantage, which takes into account the opportunity…

David and Morgan are farmers. Each one owns an 18-acre plot of land. The following table shows the amount of zucchini and watermelon each farmer can produce per yea on a given acre. Each farmer chooses whether to devote a acres to producing zucchini or watermelon or to produce zucchini on some of the land and watermelon on the rest. David Morgan WATERMELON (Pounds) 180 On the following graph, use the blue line (circle symbol) to p Q David's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Morgan's PPF. 162 144 126 100 90 72 54 36 18 0 Zucchini Watermelon (Pounds per acre) (Pounds per acre) 12 18 0 90 100 270 360 450 540 630 720 810 900 ZUCCHINI (Pounds) David's PPF A-2 Morgan's PPF A

David and Morgan are farmers. Each one owns an 18-acre plot of land. The following table shows the amount of zucchini and watermelon each farmer can produce per yea on a given acre. Each farmer chooses whether to devote a acres to producing zucchini or watermelon or to produce zucchini on some of the land and watermelon on the rest. David Morgan WATERMELON (Pounds) 180 On the following graph, use the blue line (circle symbol) to p Q David's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Morgan's PPF. 162 144 126 100 90 72 54 36 18 0 Zucchini Watermelon (Pounds per acre) (Pounds per acre) 12 18 0 90 100 270 360 450 540 630 720 810 900 ZUCCHINI (Pounds) David's PPF A-2 Morgan's PPF A

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 20P: May and Raj me the only two growers who provide organically grown corn to a local grocery store....

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