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The document contains a problem set related to production possibilities and comparative advantage between Iowa and Nebraska, specifically focusing on the trade-off between producing corn and wheat. Let’s go through some of the key points mentioned:

### Graph Observations
1. **Iowa's Production Possibilities Frontier (PPF):** The graph shows Iowa's potential output combinations of corn and wheat.
2. **Nebraska's PPF:** Similarly, Nebraska's PPF reflects its trade-off between producing corn and wheat.

### Questions Breakdown:
Here’s a quick analysis of each question:

- **a. If Iowa produced only corn, how much could it produce?** 
   - From the graph and table: 9 units of corn.

- **b. If Iowa produced only wheat, how much could it produce?**
   - Iowa could produce 3 units of wheat.

- **c. If Nebraska produced only corn, how much could it produce?**
   - Nebraska could produce 10 units of corn.

- **d. If Nebraska produced only wheat, how much could it produce?**
   - Nebraska could produce 20 units of wheat.

- **e & f.**
   - These questions ask you to explore mixed production. For example, if Iowa produces wheat, what is the maximum corn it can still produce? You'll need to read off these values from the graph.

### Comparative Advantage:
- **Opportunity Costs** will help determine the comparative advantage. To calculate the opportunity cost of producing one good, you need to see how much of the other good is given up.

   For example:
   - **Iowa's opportunity cost of 1 unit of wheat** is how much corn Iowa has to give up to produce an additional unit of wheat.
   - **Nebraska's opportunity cost of 1 unit of corn** is how much wheat Nebraska must give up to produce more corn.

Do you want detailed calculations for the opportunity costs, or shall I guide you through any specific part of this problem?

Here are five related questions to expand your understanding:
1. What are the opportunity costs for both states when producing wheat versus corn?
2. How does specialization based on comparative advantage improve trade outcomes?
3. Can you explain how production efficiency affects a state's decision to produce wheat or corn?
4. How can you visually determine which state has the comparative advantage using the graph?
5. Why would a state choose to trade even if it can produce both goods on its own?

**Tip:** To fully understand comparative advantage, focus on opportunity cost — the lower the opportunity cost for a good, the better the comparative advantage.

Analyze the production possibilities, comparative advantage, and opportunity costs for Iowa and Nebraska in producing corn and wheat. The production possibility curves (PPFs) of each state are shown in the graph, and specific questions regarding opportunity costs and trade are asked.

Understand the opportunity costs and comparative advantage in producing corn and wheat between Iowa and Nebraska using production possibility curves. Learn to calculate opportunity costs and how specialization can lead to gains from trade. Suitable for college-level economics students.

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