Q1 The chart below shows how many days it takes Walton and Singer to produce one unit of AC (air conditioner) and one unit of refrigerator. AC (in days) Refrigarator (in days) Walton 8.0 10.0 Singer 17.0 12.0 (a) What is the opportunity cost for Walton to produce a unit of AC? Please give your answer in 2-decimal places. (b) What is the opportunity cost for Singer to produce a unit of refrigerator? Please give your answer in 2-decimal places.
Q1 The chart below shows how many days it takes Walton and Singer to produce one unit of AC (air conditioner) and one unit of refrigerator. AC (in days) Refrigarator (in days) Walton 8.0 10.0 Singer 17.0 12.0 (a) What is the opportunity cost for Walton to produce a unit of AC? Please give your answer in 2-decimal places. (b) What is the opportunity cost for Singer to produce a unit of refrigerator? Please give your answer in 2-decimal places.
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 6P
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Transcribed Image Text:Q1
The chart below shows how many days it takes Walton and Singer to produce one unit of AC (air conditioner) and one unit of refrigerator.
AC (in days)
Refrigarator (in days)
Walton
8.0
10.0
Singer
17.0
12.0
(a) What is the opportunity cost for Walton to produce a unit of AC?
Please give your answer in 2-decimal places.
(b) What is the opportunity cost for Singer to produce a unit of refrigerator?
Please give your answer in 2-decimal places.
Transcribed Image Text:(c) Which company has a comparative advantage in producing AC
Type only: Walton or Singer
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