For both parties to gain from trade, the price at which they trade must lie between the two opportunity costs. Group of answer choices True False Huey can wash 2 cars or mow 2 lawns in one hour. Dewey can wash 2 cars or mow 4 lawns in one hour. Louie can wash 4 cars or mow 2 lawns in one hour. Huey’s opportunity cost of mowing 1 lawn is washed cars. Dewey’s opportunity cost of mowing 1 lawn is washed cars. Louie’s opportunity cost of mowing 1 lawn is washed cars. Enter numbers rounded to two decimal places as necessary.
For both parties to gain from trade, the price at which they trade must lie between the two opportunity costs. Group of answer choices True False Huey can wash 2 cars or mow 2 lawns in one hour. Dewey can wash 2 cars or mow 4 lawns in one hour. Louie can wash 4 cars or mow 2 lawns in one hour. Huey’s opportunity cost of mowing 1 lawn is washed cars. Dewey’s opportunity cost of mowing 1 lawn is washed cars. Louie’s opportunity cost of mowing 1 lawn is washed cars. Enter numbers rounded to two decimal places as necessary.
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 6P
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Question
For both parties to gain from trade , the price at which they trade must lie between the two opportunity costs .
Group of answer choices
True
False
Huey can wash 2 cars or mow 2 lawns in one hour. Dewey can wash 2 cars or mow 4 lawns in one hour. Louie can wash 4 cars or mow 2 lawns in one hour.
Huey’s opportunity cost of mowing 1 lawn is washed cars. Dewey’s opportunity cost of mowing 1 lawn is washed cars. Louie’s opportunity cost of mowing 1 lawn is washed cars.
Enter numbers rounded to two decimal places as necessary.
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