This topic contains a solution. Click here to go to the answer

Author Question: Janis mows the lawn in 1 hour and types a paper in 1 hour. Kristen mows the lawn in 2 hours and ... (Read 296 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
Janis mows the lawn in 1 hour and types a paper in 1 hour. Kristen mows the lawn in 2 hours and types a paper in 1 hour. Which of the following statements is true?
 a. Kristen has an absolute advantage in typing and a comparative advantage in mowing.
  b. Janis has an absolute advantage in both activities and a comparative advantage in typing.
  c. Janis has an absolute advantage in both activities and a comparative advantage in mowing.
  d. The opportunity cost of mowing the lawn is greater for Kristen than it is for Janis.
  e. Neither Janis nor Kristen would gain from specialization.

Question 2

If Jason can wash a car in 20 minutes and wash a dog in 10 minutes, and Megan can wash a car in 15 minutes and wash a dog in 15 minutes, which of the following statements is true?
 a. The opportunity cost of washing a car is greater for Megan.
  b. The opportunity cost of washing a car is one dog bath for Jason.
  c. Megan could wash two cars in the time it takes to wash a dog.
  d. Jason has both a comparative and an absolute advantage in washing a dog.
  e. The opportunity cost of washing a dog is greater for Jason.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

deja

  • Sr. Member
  • ****
  • Posts: 332
Answer to Question 1

D

Answer to Question 2

D




deja

  • Sr. Member
  • ****
  • Posts: 332

 

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

The average adult has about 21 square feet of skin.

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?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

For a complete list of videos, visit our video library