Question: FUNDAMENTALS: COMPARATIVE ADVANTAGE IN-CLASS WORKSHEET 3 This question examines the production possibilities of two individuals, Pedro and Jessica. You will construct the production possibilities frontier
FUNDAMENTALS: COMPARATIVE ADVANTAGE IN-CLASS WORKSHEET 3 This question examines the production possibilities of two individuals, Pedro and Jessica. You will construct the production possibilities frontier (PPF) for both individuals, identify each individual's opportunity cost of producing different goods, and examine comparative advantages. Pedro and Jessica can use their limited resources to produce two goods: pencils and pens. Resources used to produce one good cannot be used to produce the other, so production possibilities are limited. In the production possibilities schedules below, you are given combinations of pencils and pens, for both Pedro and Jessica, that fully utilize all their available resources. Task 1: In the graph below, construct Pedro's PPF in blue ink. Pedro's PPF Pencils Pens 10 0 8 1 6 2 4 3 2 4 0 5 Jessica's PPF Pencils Pens 5 0 4 2 3 4 2 6 1 8 0 10
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