2. Comparative and absolute advantageMusashi and Rina run a catering business in which they have two major tasks: getting new clients and preparing food for events and parties. It takesMusashi 16 hours to prepare the food for an event and 4 hours of effort to get each new client. For Rina, it takes 10 hours to prepare food for anevent and 5 hours to get a new client.In this scenario,has an absolute advantage in food preparation, andhas a comparative advantage in foodpreparation.MusashiSuppose that initto the principle dRina are splitting both tasks for a large number of events. Then they decide to start shifting some work accordingvantage. In particular, the person with the comparative advantage in food preparation will take over preparing foodRinaneither personfor one more evnecessary time away from getting more clients, and the other person will use the freed-up time from not preparingfood for one event to get more clients.As a result, the total number of events for which food is prepared will remain unchanged, but the number of new clients will increase by 2. Comparative and absolute advantageMusashi and Rina run a catering business in which they have two major tasks: getting new clients and preparing food for events and parties. It takesMusashi 16 hours to prepare the food for an event and 4 hours of effort to get each new client. For Rina, it takes 10 hours to prepare food for anevent and 5 hours to get a new client.In this scenario,has an absolute advantage in food preparation, andhas a comparative advantage in foodpreparation.Suppose that initially, Musashi and Rina are splitting both tasks for a large number of events. Then they decide to start shifting some work accordingto the principle of comparative advantage. In particular, the person with the comparative advantage in food preparation will take over preparing foodfor one more event by taking the necessary time away from getting more clients, and the other person will use the freed-up time from not preparingfood for one event to get more clients.As a result, the total number of events for which food is prepared will remain unchanged, but the number of new clients will increase by

Name: 2. Comparative and absolute advantageMusashi and Rina run a catering
Uploaded: 2022-12-02T21:52:30.000Z
Channel: Bartleby
Description: 2. Comparative and absolute advantageMusashi and Rina run a catering business in which they have two major tasks: getting new clients and preparing food for events and parties. It takesMusashi 16 hours to prepare the food for an event and 4 hours of