Jessica can produce 2 boats in a day or 100 umbrellas in a day. Paul can produce 3 boats in a day or 120 umbrellas in a day. This means that for every boat that Jessica produces, her opportunity cost is 50 umbrellas. For every boat Paul produces, his opportunity cost is 40 umbrellas. Which of the following best illustrates the idea of comparative advantage?
A. Paul is better at producing boats because he can produce more boats in a day.
B. Jessica produces fewer boats in a day than Paul, so she has comparative advantage in producing boats.
C. Paul is relatively better at producing boats because he gives up fewer umbrellas per boat than Jessica.
D. Jessica produces fewer umbrellas in a day than Paul, so she has comparative advantage in producing boats.
E. Paul is better at producing boats because he can produce more boats in a day.
F. Jessica produces fewer boats in a day than Paul, so she has comparative advantage in producing boats.
G. Paul is relatively better at producing boats because he gives up fewer umbrellas per boat than Jessica.
H. Jessica produces fewer umbrellas in a day than Paul, so she has comparative advantage in producing boats.
Answers: 2
Business, 21.06.2019 18:00
Which of the following results from outsourcing jobs from the united states to other countries? a. increasing exports out the united states. b. lower wages for u.s. workers. c. reduced immigration to the united states. d. subsidies for goods made in the united states. 2b2t
Answers: 2
Business, 21.06.2019 22:10
3. now assume that carnival booked lady antebellum in december 2016 to perform on the june 2017 western caribbean cruise. further assume that carnival pays lady antebellum its entire performance fee of $52,000 on december 28, 2016, for the june 2017 cruise. what journal entry will carnival make on december 28, 2016, for its payment to lady antebellum?
Answers: 1
Business, 22.06.2019 09:30
An object that is clicked on and takes the presentation to a new targeted file is done through a
Answers: 2
Business, 22.06.2019 11:00
Acompany that adapts its product mix to meet the needs of a new market is using which of the following global marketing strategies market development diversification strategy product development undiversified
Answers: 3
Jessica can produce 2 boats in a day or 100 umbrellas in a day. Paul can produce 3 boats in a day or...
Chemistry, 18.10.2019 05:10
Mathematics, 18.10.2019 05:10
Mathematics, 18.10.2019 05:10
Mathematics, 18.10.2019 05:10
Social Studies, 18.10.2019 05:10
Mathematics, 18.10.2019 05:10
Business, 18.10.2019 05:10
Social Studies, 18.10.2019 05:10
Mathematics, 18.10.2019 05:10
History, 18.10.2019 05:10
Mathematics, 18.10.2019 05:10