Question: Youre working on a team-based homework assignment with a partner, Deidre, that consists of an essay and graphing questions. You can write an essay answer

You’re working on a team-based homework assignment with a partner, Deidre, that consists of an essay and graphing questions. You can write an essay answer in 15 minutes while Deidre takes 20 minutes to write an essay of similar quality. You can answer a graphing question in 30 minutes and it also takes Deidre 30 minutes.

a. What are you and your partner’s opportunity cost of answering essay questions and of finishing graphing questions?

b. Use the opportunity cost principle to determine each of your comparative advantages.

c. If you each agree to spend one more hour on the task for which you hold a comparative advantage, and one less hour on the other task, what will happen to your joint output?

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