Author Question: Tom takes 20 minutes to cook an egg and 5 minutes to make a sandwich. Jerry takes 15 minutes to cook ... (Read 204 times)

james · **on:** Jun 29, 2018

Tom takes 20 minutes to cook an egg and 5 minutes to make a sandwich. Jerry takes 15 minutes to cook an egg and 3 minutes to make a sandwich. Both individuals will be better off if

A) Tom trades sandwiches in exchange for eggs.
B) Jerry trades sandwiches in exchange for eggs.
C) they trade, no matter who trades sandwiches and who eggs.
D) they don't trade.

Question 2

An increase in the price of jet fuel will ________ airline travel and the equilibrium quantity of airline travel will ________.

A) decrease the supply of; decrease
B) increase the demand for; increase
C) decrease the supply of; increase
D) decrease the demand for; decrease