Problems: READ THESE CAREFULLY! Problem A (7 points) The following table illustrates production capabilities for two people, Sans and Papyrus. The two each can produce jackets or gloves. The table shows how long it takes each to produce jackets and gloves. In other words, it takes Sans 45 minutes to make a jacket, and it takes Papyrus 60 minutes to make a jacket. Assume that there is a time period of 15 hours (900 minutes) in which to produce. On your turn-in sheet, complete the following: 1. Draw the PPC for Sans on the left graph, putting jackets on the horizontal axis. Label everything, including the vertical and horizontal intercepts numerically. Draw closely to scale, considering the slope of the function. Do the same for Papyrus on the right graph. (2 points) 2. Fill out the tables of opportunity costs (see the Dave and Jaime door/window example in the notes packet for help and hints). (1 point) 3. Answer the questions about absolute and comparative advantage. (1 point) 4. Assume that Sans specializes in his comparative advantage. Label the chosen production output combination as point A on the Sans PPC. Assume that Papyrus also specializes in his comparative advantage. Label the chosen production output combination as point A on the Papyrus PPC. (1 point) 5. Based on production times, it is determined that one jacket is worth 4 gloves. A trade occurs in which 8 jackets are exchanged for 32 gloves. After the trade, Sans has both jackets and gloves. On the Sans PPC, label this new combination as point B. Numerically show the amounts of jackets and gloves at this point, and make sure it is drawn in the correct position relative to the PPC. Do the same for Papyrus, drawing a point B on the Papyrus PPC graph. This problem requires some work. (2 points)