Answers
| Wine (cases) | Cheese (Pounds) | |
| Italy | 200 | 600 |
| France | 250 | 500 |
(a) By plotting the given PPF ,we get the graph as shown below:
(b) France has an absolute advantage in producing wine because it can produce more wine with the given resources than Italy.
(c) Italy has an absolute advantage in producing cheese because it can produce more cheese with the given resources than France.
(d) The opportunity cost of a case of wine in Italy = 600/200= 3 pounds of cheese.
(e) The opportunity cost of a case of wine in France = 500/250= 2 pounds of cheese.
(f) The opportunity cost of a pound of cheese in Italy = 200/600 = 0.33 cases of wine.
(g) The opportunity cost of a pound of cheese in France = 250/500= 0.5 cases of wine.
(h) France has a comparative advantage in wine because France has a lower opportunity cost for producing wine.
(i) Italy has a comparative advantage in cheese because Italy has a lower opportunity cost for producing cheese.
(j) Joint PP points are:
Wine = 450 cases
Cheese = 1100 pounds
It is shown in the above graph.
A Cheese Pounds وما tooo be you Joint RRE 0 100 200 320 los soo Wine (lases)
.
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