2. Comparative and absolute advantage Edison and Hilary are farmers. Each one owns a 12-acre plot of land. The following table shows the amount of corn and rye each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye on the rest. Corn Rye (Bushels per acre) (Bushels per acre) Edison 1 2 3 Hilary 15 5 On the following graph, use the blue line (circle symbol) to plot Edison's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Hilary's PPF. 120 O 108 Edison's PPF 96 84 72 Hilary's PPF RYE (Bushels) 60 48 36 24 12 0 60 120 180 240 300 360 420 480 540 600 CORN (Bushels)V has an absolute advantage in the production of corn, and V has an absolute advantage in the production of rye. Edison's opportunity cost of producing 1 bushel of rye is bushels of corn, whereas Hilary's opportunity cost of producing 1 bushel of rye is |:] bushels of corn. Because Edison has a V opportunity cost of producing rye than Hilary, V has a comparative advantage in the production of rye, and V has a comparative advantage in the production of corn