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Sara and Sid produce boards and sails for windsurfing. Sara can produce either 15 boards and zero sails, or 10 sails and zero boards. Sid, on the other hand, can produce either 10 boards and zero sails, or 15 sails and zero boards. Draw a graph illustrating the PPF (Production Possibilities Frontier) for both Sara and Sid (on the same graph) for boards and sails.

(a) find out Sara's opportunity cost of a board.

(b) find out Sid's opportunity cost of a board.

(c) Who has a comparative advantage in producing boards?

(d) Who has a comparative advantage in producing sails?

(e) If they specialize and trade, how many boards and sails will they produce?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M974504

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