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1. Draw the Production Possibilities Frontier for the following table and label all points Person A Possibility Pizza Hamburgers 25 20 15 10 6 10 • What is the opportunity cost of 1 Pizza? What is the opportunity cost of 1 hamburger? Label three inefficient points and 3 unattainable points 2. Draw the Production Possibilities Frontier and label all points: Person B Possibility Hamburgers 10 8 B Piura 5 10 15 20 25 C D What is the opportunity cost of 1 Pizza? What is the opportunity cost of 1 hamburger? Does Person B have an absolute or comparative advantge to Person A? Does Person A have an absolute or comparative advantage to Person B? How many Pizzas/Hamburgers should Person A & B produce?
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