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. a. Draw Marthas daily PPC. Instructions: Use the tool provided to draw Marthas PPC curve. Plot only the endpoints and locate these endpoints on the axes of the diagram. Marthas PPC Tools line 1 Loaves of bread 40 80 120 160 200 240 280 320 360 400 Muffins b. Draw Julias daily PPC. Instructions: Use the tool provided to draw Julias PPC curve. Plot only the endpoints and locate these endpoints on the axes of the diagram. Julias PPC Tools line 1 Loaves of bread 60 120 180 240 300 360 420 480 540 600 Muffins c. What is the opportunity cost to each of making one loaf of bread? Marthas opportunity cost of making a loaf of bread: O m uffins Julias opportunity cost of making a loaf of bread: [ muffins Instructions: Enter your responses rounded to two decimal places. Marthas opportunity cost of making a muffin: loaves of bread Julias opportunity cost of making a muffin: loaves of bread e. Who has the comparative advantage in making bread? Martha Julia Neither f. Who has the absolute advantage in making bread? Neither Martha Julia 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 higher than Marthas. Julia because her opportunity cost of making bread is lower than Marthas. Martha because her opportunity cost of making bread is higher than Julias. Martha because her opportunity cost of making bread is lower than Julias.
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