This table gives how long it takes two roommates to perform two household tasks:Dust thefurnitureDo the laundryOlivia3 hours1 hourEmma4 hours2 hourshas a comparative advantage at doing the laundry andhas a comparative advantage at dusting the furniture.A) Emma; OliviaB) Olivia; OliviaC) Emma; EmmaD) Olivia; Emma

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Description: This table gives how long it takes two roommates to perform two household tasks:Dust thefurnitureDo the laundryOlivia3 hours1 hourEmma4 hours2 hourshas a comparative advantage at doing the laundry andhas a comparative advantage at dusting the furnit

When goods and services are produced at low opportunity cost compared to others, it is known as…

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Economics

This table gives how long it takes two roommates to perform two household tasks: Dust the furniture Do the laundry Olivia 1 hour 2 hours 3 hours Emma 4 hours has a comparative advantage at doing the laundry and has a comparative advantage at dusting the furniture. A) Emma; Olivia B) Olivia; Olivia C) Emma; Emma D) Olivia; Emma

This table gives how long it takes two roommates to perform two household tasks: Dust the furniture Do the laundry Olivia 1 hour 2 hours 3 hours Emma 4 hours has a comparative advantage at doing the laundry and has a comparative advantage at dusting the furniture. A) Emma; Olivia B) Olivia; Olivia C) Emma; Emma D) Olivia; Emma

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section: Chapter Questions

Problem 2CQQ

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. Diego and Darnell are roommates. They spend mostof their time studying (of course), but they leavesome time for their favorite activities: making pizzaand brewing root beer. Diego takes 4 hours to brewa gallon of root beer and 2 hours to make a pizza.Darnell takes 6 hours to brew a gallon of root beerand 4 hours to make a pizza.a. What is each roommate’s opportunity cost ofmaking a pizza? Who has the absolute advantagein making pizza? Who has the comparativeadvantage in making pizza?b. If Diego and Darnell trade foods with each other,who will trade away pizza in exchange for rootbeer?c. The price of pizza can be expressed in terms ofgallons of root beer. What is the highest price atwhich pizza can be traded that would make bothroommates better off? What is the lowest price?Explain.
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