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Castor can produce 20 units of brick or 10 units of wheat or some combination of the two described by the following PPF curve: Castor: Qb = 20 - 2Qw
Pollux can produce 18 units of brick or 3 units of wheat or some linear combination of the two described by the following PPF curve: Pollux: Qb = 18 - 6Qw
(a) Graph each city's Production Possibilities Frontier for brick and wheat (on the same graph). Draw wheat on the x-axis and brick on the y-axis. Carefully label each component.
(b) Fill in the table, giving the opportunity cost of Castor and Pollux.
Opportunity cost of 1 unit of wheat
The opportunity cost of 1 unit of brick
Castor
Pollux
(c) Which county has the absolute advantage in wheat? Which county has The opportunity the absolute advantage in brick? Explain (briefly) how you know
(d) Who has the comparative advantage in wheat? Who has the comparative advantage in brick?
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