Mike and Sandy are two woodworkers who both make tables and chairs. make 4 tables or 20 chairs, while Sandy can make 6 tables or 18 chairs. G O Mike has an absolute advantage in tables. O Mike has a comparative advantage in chairs. O Sandy has an absolute advantage in chairs. O Sandy has a comparative advantage in chairs.

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
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Chapter3: Interdependence And The Gains From Trade
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Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can
make 4 tables or 20 chairs, while Sandy can make 6 tables or 18 chairs. Given this, we know that
Mike has an absolute advantage in tables.
Mike has a comparative advantage in chairs.
O Sandy has an absolute advantage in chairs.
Sandy has a comparative advantage in chairs.
Transcribed Image Text:Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, while Sandy can make 6 tables or 18 chairs. Given this, we know that Mike has an absolute advantage in tables. Mike has a comparative advantage in chairs. O Sandy has an absolute advantage in chairs. Sandy has a comparative advantage in chairs.
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