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Li's Production Per Day Raj's Production Per Day Cupcakes Muffins Cupcakes Muffins O 12 16 'l 9 12 2 6 8 3 3 4 4
Li's Production Per Day Raj's Production Per Day Cupcakes Muffins Cupcakes Muffins O 12 16 'l 9 12 2 6 8 3 3 4 4 0 0 a. Fill in the table below as follows (10 marks): 0 The first 2 columns representjoint production where Li and Raj produce equal quantities. 0 The last 2 columns representjoint production where they each produce according to their comparative advantage (specialization). Combined PPF (Equal Combined PPF Quantities) (Specialization) Cupcakes Muffins Cupcakes b. Plot the combined production possibility curves for both cases (equal quantities 3c specialization), with cupcakes on the horizontal axis, on the same graph). (10 marks)
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