Q2 (12 marks) Harry and Meghan are both currently single. They are deciding whether or not they should get married. Meghan can produce $15 of home goods per hour, or $10 of market goods per hour. Harry can produce $12 of home goods per hour, or $18 of market goods per hour. Each of them has 8 hours of time endowment. (i) Who has comparative advantage in market good production? (1 mark) (ii) Who has comparative advantage in home good production? (I mark) (iii) Draw the individual production possibility frontier for Harry and Meghan when they are singles. (1+1 =2 marks) (iv) Harry and Meghan are now married. Sketch the joint production possibility frontier for Harry and Meghan in marriage. (3 marks) (v) Sketch the per capita production possibility frontier for Harry and Meghna in marriage and shade the area which represents the gain from specialization in production in marriage. (2 marks) (vi) Harry and Meghan are also working out how to best spend the 8 hours a day they have for home and market production. Assume that they prefer a mixture of home and market goods to consuming just home goods or just market goods. What can you conclude about how Harry and Meghan will spend their production time? (hint: consider at least three options)