(Answered) Please explain the following questions with examples and

Economics

Please explain the following questions with examples and theoretical support.

a) In what way does the notion of comparative advantage help to explain that production possibilities curves are bowed outward (the principle of increasing opportunity cost)? Explain your answer in the context of the trade-off between drainpipes and butter.

b) Explain how the long-run market supply curve for a perfectly competitive industry depends on factor prices.

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