Production Possibilities for two bakeries.
BAKERY 1
Cookies Pies
0 18
10 12
20 6
30 0
BAKERY 2
Cookies Pies
0 9
30 6
60 3
90 0
a. What is the opportunity cost of a pie at Bakery 1
b. What is the opportunity cost of a cookie at Bakery 2
c. Which bakery has a comparative advantage in the production of cookies
d. Draw the production possibilities curve showing the combined effort with specialization.