Question 3. Ali and Barb both like making bread and jam. In one day Ali can make 10 loafs of bread OR 20 jars of jam.In one day Barb can make 6 loafs of bread OR 36 jars of jam.

3a) What is Ali's opportunity costof making 1 loaf of bread? (Include a definition of opportunity cost).

3b) What is Barb's opportunity cost of making one loaf of bread?

3c) If they both split their time evenly between bread making and jam making, how many loafs of bread and jars of jam would they each have?

3d) If Ali only made bread and Barb only made jam, how many loafs of bread and jars of jam would they have between them?

3e) If Ali only makes jam and Barb only makes bread, how many loafs of bread and jars of jam would they have between them?

3f) Assume Ali and Barb specialize in their comparative advantage good, and then agree to trade 3 loafs of bread for 12 jars of jam. How many loafs of bread and jars of jam do they each have now?

3g)Has specializing in their comparative advantage good made them better off overall?Explain your answer fully, includingexplaining what is meant by 'comparative advantage.