Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can either make 10 loaves of bread or 40 muffins, while Julia can either make 12 loaves of bread or 60 muffins. Both Martha and Julia work 8 hours a day.

C. What is the opportunity cost to each of making one loaf of bread? Martha's opportunity cost of making a loaf of bread muffin:s Julia's opportunity cost of making a loaf of bread d. What is the opportunity cost to each of making one muffin? Instructions: Enter your responses rounded to two decimal places Martha's opportunity cost of making a muffin: 4.00 loaves of bread Julia's opportunity cost of making a muffin: 4.88 loaves of bread e. Who has the comparative advantage in making bread? 0muffins Neither Julia Martha f. Who has the absolute advantage in making bread? Martha Julia Neither g. Suppose you are the owner of the bakery. If Julia and Martha are currently both spending all of their time making muffins, then which of them should you ask to start making bread? Julia because her opportunity cost of making bread is lower than Martha's Martha because her opportunity cost of making bread is lower than Julia's Julia because her opportunity cost of making bread is higher than Martha's Martha because her opportunity cost of making bread is higher than Julia's. *