This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Papa Ray owns a pizzeria. He is more efficient at making pizza than anyone he could hire. Does this ... (Read 42 times)

c0205847

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Papa Ray owns a pizzeria. He is more efficient at making pizza than anyone he could hire. Does this mean that he should make all of the pizzas himself?
 
  What will be an ideal response?

Question 2

When the aggregate demand curve and the short-run aggregate supply curve intersect,
 
  A) the economy is in short-run macroeconomic equilibrium.
  B) inflation must be increasing.
  C) structural and frictional unemployment equal zero.
  D) the long-run aggregate supply curve must also intersect at the same point.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jessicaduplan

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

No. This simply means that Papa Ray has an absolute advantage in making pizza. This does not mean that he has a comparative advantage in making pizza. It is possible that the opportunity cost of his time is high (he could be out selling franchises, for example).

Answer to Question 2

A


c0205847

  • Member
  • Posts: 531
Reply 2 on: Jun 29, 2018
Wow, this really help

TheNamesImani

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

The procedure for making a karyotype. The procedure for making a karyotype.
Rotating Furnace for Making Parabolic Telescope Mirrors Rotating Furnace for Making Parabolic Telescope Mirrors
The Making of the Himalayas The Making of the Himalayas
Ethical Decision-Making Model Ethical Decision-Making Model
Mixed dishes such as hamburgers and pizza are a major source of solid fats in the diets of Americans Mixed dishes such as hamburgers and pizza are a major source of solid fats in the diets of Americans
Communication: Making Connections, 11th Communication: Making Connections, 11th
Video: Cerebral Cortex Animation

For a complete list of videos, visit our video library