Back to Assignment Attempts 1.1 l I Keep the Highest 1.1 .4' 8 2. Comparative and absolute advantage Felix and Janet are farmers. Each one owns a lZ-acre plot of land. The following table shows the amount of corn and rye each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye on the rest. Corn Rye (Busheis per acre) {Busheis per acre) Felix 1 2 6 Janet 15 5 On the following graph, use the blue line (circle symbol) to plot Felix's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Janet's PPF. 120 O 108 Felix's PPF 96 84 72 Janet's PPF 60 RYE (Bushels) 48 24 12 60 120 180 240 300 360 420 480 540 600 CORN (Bushels) has an absolute advantage in the production of corn, and * has an absolute advantage in the production of rye. Felix's opportunity cost of producing 1 bushel of rye is bushels of corn, whereas Janet's opportunity cost of producing 1 bushel of rye is bushels of corn. Because Felix has a opportunity cost of producing rye than Janet, _ has a comparative advantage in the production of rye, and * has a comparative advantage in the production of corn