Australia and New Zealand are both highly regarded for their
abilities to produce kiwis (K) and bauxite (B). The production possibility
frontier for New Zealand is described by the equation
and the production possibilities frontier for Australia is
given by the equation
Draw the PPFs of both Australia and New Zealand
below. They must be on the same graph. Label all intercepts.
Does either country have an absolute advantage
in the production of both goods? Explain.
Which country has the comparative advantage in
the production of kiwis? What about bauxite? How can you tell?
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