Multiple Choice
Mike can wash a car in 5 minutes and wax a car in 15 minutes. Tony can wash a car in 10 minutes and wax a car in 20 minutes. Which of the following is true?
A) Mike can wash a car faster and has comparative advantage in washing cars.
B) Mike can wax a car faster and has comparative advantage in waxing cars.
C) Tony can wash a car faster and has comparative advantage in washing cars.
D) Tony can wax a car faster and has comparative advantage in waxing cars.
Correct Answer:

Verified
Correct Answer:
Verified
Q144: Assume that Colombia can produce 1,000 pounds
Q145: If people follow the rule of rational
Q146: Rational choices:<br>A)are based on a comparison of
Q147: Scarcity:<br>A)exists in command economies.<br>B)exists in market economies.<br>C)exists
Q148: Which of the following observations regarding economic
Q150: If race-car driving is dangerous, why would
Q151: Advantages of specialization do not include:<br>A)reduced interdependence.<br>B)the
Q152: If a country wanted to maximize the
Q153: Maggie is a potter who likes to
Q154: Specialization and trade can create more wealth