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1. An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee in 60 minutes, while an average worker in Peru can produce an ounce of soybeans in 50 minutes and an ounce of coffee in 75 minutes.
a. Construct a table with data about both producers
b. Graph the production possibilities frontier of Brazil and Peru.
c. Who has the absolute advantage in coffee? Explain.
d. Who has the comparative advantage in coffee? Explain.
e. If the two countries specialize and trade with each other, who will import coffee and who will import soybeans. Explain.
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