Each day, Ted can wax 9 cars or wash 12 cars, and Tom can wax 5 cars or wash 15 cars.   What is each man's opportunity cost of washing a car?   Instructions: Enter your responses rounded to two decimal places.   Ted's opportunity cost of washing one car is ? wax jobs.     Tom's opportunity cost of washing one car is ? wax jobs.     Who has a comparative advantage in washing cars?

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter3: Interdependence And The Gains Rrom Trade
Section3.2: Comparative Advantage: The Driving Force Of Specialization
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Each day, Ted can wax 9 cars or wash 12 cars, and Tom can wax 5 cars or wash 15 cars.

 

What is each man's opportunity cost of washing a car?

 

Instructions: Enter your responses rounded to two decimal places.

 

Ted's opportunity cost of washing one car is ? wax jobs.

 

 

Tom's opportunity cost of washing one car is ? wax jobs.

 

 

Who has a comparative advantage in washing cars?

 

  • Ted
  • Tom

 

 
 


 
 
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