Multiple Choice
In one week, Mohammed can knit 5 sweaters or bake 240 cookies.In one week, Tetah can knit 15 sweaters or bake 480 cookies.In this example,
A) Mohammed has the absolute and comparative advantage in both tasks
B) Tetah has the absolute and comparative advantage in both tasks
C) Mohammed has the absolute advantage in both tasks and the comparative advantage in knitting sweaters
D) Tetah has the absolute advantage in both tasks and the comparative advantage in knitting sweaters
E) Mohammed has the absolute advantage in both tasks and the comparative advantage in baking cookies
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Janis mows the lawn in 1 hour
Q2: Exhibit 2-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 2-4
Q4: The "division of labor" refers to<br>A)discrimination in
Q5: In one week, Mohammed can knit 5
Q6: Expenses for room and board<br>A)are opportunity costs
Q7: Which of the following cannot be determined
Q8: Opportunity cost is the difference between the
Q9: Which economic concept does the expression "time
Q10: It is possible for one person to
Q196: Opportunity cost is defined<br>A) only in terms