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1. Comparative Advantage: Discuss the lComparative Advantage {With dee] simulation that you played in Module Two. You should add the Hoduction Decisions graph and die

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1. Comparative Advantage: Discuss the lComparative Advantage {With dee] simulation that you played in Module Two. You should add the Hoduction Decisions graph and die Ptoduction Trade graph {i.e., the graph showing how many hamburgers per fries] from you simulation report into the project template as Figures ]..1 and 1.2. Then, answer the following questions in the paragraphs below the figures: o How does this simulation demonstrate how individuals evaluate opportunity costs to make business decisions? Use the Production Decisions graph from the simulation as a reference to explain what mle the production-possibility frontier {PPF} has in die decision-making process. D Explain how comparative advantage impacts a firm's decision to engage in trade. Would a business's decision to trade cause a change to its PPF? Provide specific reasonng to support your claims. This simulation demonstrates how individuals evaluate opportunity costs in order to make business decisions by making you take into consideration all of your options and consequences. l[line thing you'd look at is how many fries you're giving up in order to produce more burgers, and vice-versa. Then you need to figure out which combination of the two products is going to have the most successful outcome. .Filso, you need to look at your explicit and implicit costs and take them into account when making your business decision. The Production Decisions graph is able to show us the different amounts of burgers and fries that can he produced, since bod'i depend on the same finite resources. This graph can help us to see all of the possible outcomes of producing two products, and it can help us to visualize the possibilities, thus making it easier to make a business decision. In order to impact a firm's decision to engage in bade, the company should take a look at comparative advantage. Comparative advantage is to be able to produce a product or service at a smaller opportunity cost than anyone else. Being able to look at other companies or business', and guring out their comparative advantage compared to our comparative advantage, we would be able to utilize our time better. Partner one can spend all of his time doing what he excels at, and parmer 2 can spend all of his time doing what he excels at. \"Which results in releasing their restrictions, and allows each parmer to consume more than each person can produce. When a business makes a decision to trade, the PPF is extended. When you engage in trading, it allows the economy to consume more specific goods that it can produce. When you trade, you create a bunch of new possibilities of production that didn't exist before when both compardes were producing individually

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