Use the information below to answer (a), (b) and (c) Minutes Needed to Make One Kilogram...

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Use the information below to answer (a), (b) and (c) Minutes Needed to Make One Kilogram of Farmer Baker Bread 30 min/kilo 12.5 min/kilo Tomatoes 10 min/kilo 5 min/kilo Amount of Bread OR Tomatoes Produced in 8 Hours Bread Tomatoes a) Develop the production possibilities frontier for each producer (use the straight line production possibilities frontier) b) Use the production possibilities frontier to show the amount of bread and tomatoes the baker and the farmer can produce in autarky if each one uses 6 hours of their time to produce bread and 2 hours of their time to produce tomatoes (use vertical axis for bread and horizontal axis for tomatoes). c) Based on your answer to (b), show the consumption points for farmer and rancher on their respective PPFs. Label these points as B. d) Who should specialize in producing bread and who should specialize in producing tomatoes, explain why? Use the information below to answer (a), (b) and (c) Minutes Needed to Make One Kilogram of Farmer Baker Bread 30 min/kilo 12.5 min/kilo Tomatoes 10 min/kilo 5 min/kilo Amount of Bread OR Tomatoes Produced in 8 Hours Bread Tomatoes a) Develop the production possibilities frontier for each producer (use the straight line production possibilities frontier) b) Use the production possibilities frontier to show the amount of bread and tomatoes the baker and the farmer can produce in autarky if each one uses 6 hours of their time to produce bread and 2 hours of their time to produce tomatoes (use vertical axis for bread and horizontal axis for tomatoes). c) Based on your answer to (b), show the consumption points for farmer and rancher on their respective PPFs. Label these points as B. d) Who should specialize in producing bread and who should specialize in producing tomatoes, explain why?

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b Farmer Baker Bread 16kg 3825kg ... View the full answer