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Mark can cook dinner in 30 minutes and wash the laundry in 20 minutes. His roommate takes half as long to do each task. How should the roommates allocate the work? a. Mark should do more of the cooking based on his comparative advantage. b. Mark should do more of the washing based on his comparative advantage. c. Mark should do more of the washing based on his absolute advantage. d. There are no gains from trade in this situation.

BuyFind

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305156050
BuyFind

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305156050

Solutions

Chapter
Section
Chapter 3, Problem 6CQQ
Textbook Problem

Mark can cook dinner in 30 minutes and wash the laundry in 20 minutes. His roommate takes half as long to do each task. How should the roommates allocate the work?

  1. a. Mark should do more of the cooking based on his comparative advantage.
  2. b. Mark should do more of the washing based on his comparative advantage.
  3. c. Mark should do more of the washing based on his absolute advantage.
  4. d. There are no gains from trade in this situation.

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