Andreas can knit 1 scarves per hour and 4 hats per hour. Katya can knit 9 scarves per hour and 2 hats per hour. What is the opportunity cost of one scarf (in terms of number of hats) for the person with the absolute advantage in scarf production?

Andreas can knit 1 scarves per hour and 4 hats per hour. Katya can knit 9 scarves per hour and 2 hats per hour. What is the opportunity cost of one scarf (in terms of number of hats) for the person with the absolute advantage in scarf production?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section3.2: Comparative Advantage: The Driving Force Of Specilization

Problem 2QQ

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