Bundle: Principles of Macroeconomics, Loose-Leaf Version, 7th + Aplia, 1 term Printed Access Card
7th Edition
ISBN: 9781305134935
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 3, Problem 1QCMC
To determine
The absolute advantage.
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In an hour, Mateo can wash 2 cars or mow 1 lawn,and Sophia can wash 3 cars or mow 1 lawn. Whohas the absolute advantage in car washing, and whohas the absolute advantage in lawn mowing?a. Mateo in washing, Sophia in mowingb. Sophia in washing, Mateo in mowingc. Mateo in washing, neither in mowingd. Sophia in washing, neither in mowing
In an hour, Mateo can wash 2 cars or mow 1 lawn, and Tyler can wash 3 cars or mow 1 lawn. Who has an absolute advantage in car washing, and who has the absolute advantage in lawn mowing?
Sam can brew 5 gallons of root beer in an hour or he can make 4 pizzas in an hour. Ben can brew 7 gallons of root beer in an hour or he can make 5 pizzas in an hour.
Who has an absolute advantage in making pizza? [ Select ] ["Ben", "Sam"]
Who has a comparative advantage in making pizza? [ Select ] ["Sam", "Ben"]
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Bundle: Principles of Macroeconomics, Loose-Leaf Version, 7th + Aplia, 1 term Printed Access Card
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- In France it takes one worker to produce one sweater, and one worker to produce one bottle of wine. In Tunisia it takes two workers to produce one sweater, and three workers to produce one bottle of wine. Who has the absolute advantage in production of sweaters? Who has the absolute advantage in the production of wine? How can you tell?arrow_forward6. Given that Nathan has 10 acres and can grow 15 bales of hay or 40 bushels of corn on anacre, while Simon has 10 acres and can grow 20 bales of hay or 35 bushels of corn per acre a. What is the maximum amount of corn and hay that they can jointly produce?b. Does Nathan have a comparative advantage in growing hay?c. Does Simon have an absolute advantage in growing hay?d. What is the opportunity cost to Nathan of one bale of hay?arrow_forwardIn an hour mattew can wash 2 car and mow one lawn an Tyler can wash 3 cars and mow one lawn. who has the absulute advantage in car washing and who has the absolute advantage in lawn mowingarrow_forward
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