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Cartman and Kyle are castaways on an island and spend their days picking papayas and mangos. Cartman has a comparative advantage in picking papayas. Kyle has a comparative advantage in picking mangos.
Part 1: Use the infinite line tool to draw the linear production possibility frontier that illustrates Cartman's trade-off between picking papayas and picking mangos, label it as PPF.
Part 2: Assume that Cartman will consume all of what he produces. Plot a point that illustrates a consumption bundle for Cartman if he does not trade with Kyle. Label this point A.
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When will the competitive firm shut down in the short run? When will it incur a loss but continue to produce? Draw a graph showing each scenario and explain.
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