Nancy and Bill are auto mechanics. Nancy takes 4 hours to replace a clutch and 6 hours to replace a set of brakes. Bill takes 6 hours to replace a clutch and 8 hours to replace a set of brakes. State whether anyone has an absolute advantage at either task and, for each task, identify who has a comparative advantage. Instructions: Enter your responses rounded to two decimal places. The opportunity cost of replacing a set of brakes for Nancy is The opportunity cost of replacing a set of brakes for Bill is (Click to select) has a comparative advantage in brake replacement. (Click to select) has a comparative advantage in clutch replacement. (Click to select) has an absolute advantage in brake replacement. (Click to select) has an absolute advantage in clutch replacement.
Nancy and Bill are auto mechanics. Nancy takes 4 hours to replace a clutch and 6 hours to replace a set of brakes. Bill takes 6 hours to replace a clutch and 8 hours to replace a set of brakes. State whether anyone has an absolute advantage at either task and, for each task, identify who has a comparative advantage. Instructions: Enter your responses rounded to two decimal places. The opportunity cost of replacing a set of brakes for Nancy is The opportunity cost of replacing a set of brakes for Bill is (Click to select) has a comparative advantage in brake replacement. (Click to select) has a comparative advantage in clutch replacement. (Click to select) has an absolute advantage in brake replacement. (Click to select) has an absolute advantage in clutch replacement.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Nancy and Bill are auto mechanics. Nancy takes 4 hours to replace a clutch and 6 hours to replace a set of brakes. Bill takes 6 hours to
replace a clutch and 8 hours to replace a set of brakes. State whether anyone has an absolute advantage at either task and, for each
task, identify who has a comparative advantage.
Instructions: Enter your responses rounded to two decimal places.
The opportunity cost of replacing a set of brakes for Nancy is
The opportunity cost of replacing a set of brakes for Bill is
(Click to select) has a comparative advantage in brake replacement.
(Click to select)
has a comparative advantage in clutch replacement.
(Click to select) has an absolute advantage in brake replacement.
(Click to select) has an absolute advantage in clutch replacement.
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