In the figure at right, the joint production possibility frontier (PPF) is concave to the origin....

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In the figure at right, the joint production possibility frontier (PPF) is concave to the origin. When the two individual production possibility frontiers are combined, however, the resulting PPF could have been drawn so that it was convex to the origin. How do we know which of these two ways of drawing the PPF to use? We should draw the joint PPF such that Jane and Denise O A. generate social wefare by maximizing joint utility. O B. promote equity by each producing the same amounts of each good. O C. specialize by producing at least some of both goods. O D. maximize their marginal rates of transformation. O E. produce first that for which they have a comparative advantage. Firewood, Cords 10- 8- 2- 0- 0 MRT = -0.5 (Denise) 2 MRT-2 (Jane) 6 Candy, Bars 8 10 In the figure at right, the joint production possibility frontier (PPF) is concave to the origin. When the two individual production possibility frontiers are combined, however, the resulting PPF could have been drawn so that it was convex to the origin. How do we know which of these two ways of drawing the PPF to use? We should draw the joint PPF such that Jane and Denise O A. generate social wefare by maximizing joint utility. O B. promote equity by each producing the same amounts of each good. O C. specialize by producing at least some of both goods. O D. maximize their marginal rates of transformation. O E. produce first that for which they have a comparative advantage. Firewood, Cords 10- 8- 2- 0- 0 MRT = -0.5 (Denise) 2 MRT-2 (Jane) 6 Candy, Bars 8 10 In the figure at right, the joint production possibility frontier (PPF) is concave to the origin. When the two individual production possibility frontiers are combined, however, the resulting PPF could have been drawn so that it was convex to the origin. How do we know which of these two ways of drawing the PPF to use? We should draw the joint PPF such that Jane and Denise O A. generate social wefare by maximizing joint utility. O B. promote equity by each producing the same amounts of each good. O C. specialize by producing at least some of both goods. O D. maximize their marginal rates of transformation. O E. produce first that for which they have a comparative advantage. Firewood, Cords 10- 8- 2- 0- 0 MRT = -0.5 (Denise) 2 MRT-2 (Jane) 6 Candy, Bars 8 10 In the figure at right, the joint production possibility frontier (PPF) is concave to the origin. When the two individual production possibility frontiers are combined, however, the resulting PPF could have been drawn so that it was convex to the origin. How do we know which of these two ways of drawing the PPF to use? We should draw the joint PPF such that Jane and Denise O A. generate social wefare by maximizing joint utility. O B. promote equity by each producing the same amounts of each good. O C. specialize by producing at least some of both goods. O D. maximize their marginal rates of transformation. O E. produce first that for which they have a comparative advantage. Firewood, Cords 10- 8- 2- 0- 0 MRT = -0.5 (Denise) 2 MRT-2 (Jane) 6 Candy, Bars 8 10 In the figure at right, the joint production possibility frontier (PPF) is concave to the origin. When the two individual production possibility frontiers are combined, however, the resulting PPF could have been drawn so that it was convex to the origin. How do we know which of these two ways of drawing the PPF to use? We should draw the joint PPF such that Jane and Denise O A. generate social wefare by maximizing joint utility. O B. promote equity by each producing the same amounts of each good. O C. specialize by producing at least some of both goods. O D. maximize their marginal rates of transformation. O E. produce first that for which they have a comparative advantage. Firewood, Cords 10- 8- 2- 0- 0 MRT = -0.5 (Denise) 2 MRT-2 (Jane) 6 Candy, Bars 8 10 In the figure at right, the joint production possibility frontier (PPF) is concave to the origin. When the two individual production possibility frontiers are combined, however, the resulting PPF could have been drawn so that it was convex to the origin. How do we know which of these two ways of drawing the PPF to use? We should draw the joint PPF such that Jane and Denise O A. generate social wefare by maximizing joint utility. O B. promote equity by each producing the same amounts of each good. O C. specialize by producing at least some of both goods. O D. maximize their marginal rates of transformation. O E. produce first that for which they have a comparative advantage. Firewood, Cords 10- 8- 2- 0- 0 MRT = -0.5 (Denise) 2 MRT-2 (Jane) 6 Candy, Bars 8 10

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