1. Aigerim and Nursultan are competitors and cook in street food cafes. In one-hour Aigerim can cook 20 burgers or 30 hot dogs, Nursultan can cook 15 burgers or 25 hot dogs. Every day they work for 10 hours. a) Who has the absolute advantage in each meal? Who has the comparative advantage? Explain b) Draw the joint production possibilities frontier (PPF) for Aigerim and Nursultan for 10-hour work (hot dogs are on x-axis).

1. Aigerim and Nursultan are competitors and cook in street food cafes. In one-hour Aigerim can cook 20 burgers or 30 hot dogs, Nursultan can cook 15 burgers or 25 hot dogs. Every day they work for 10 hours. a) Who has the absolute advantage in each meal? Who has the comparative advantage? Explain b) Draw the joint production possibilities frontier (PPF) for Aigerim and Nursultan for 10-hour work (hot dogs are on x-axis).

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Description: 1. Aigerim and Nursultan are competitors and cook in street food cafes. In one-hour Aigerim can cook 20 burgersor 30 hot dogs, Nursultan can cook 15 burgers or 25 hot dogs. Every day they work for 10 hours.a) Who has the absolute advantage in each m

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q.1
Using the data presented in the table below answer the followings: a) which country has comparative advantage in the production of apples, oranges? Explain and show wor b) which country has an absolute advantage in the production of apples, oranges? c) Which country should specialize in the production of apples, oranges? Explain why points) Production per worker: Oranges U.S. 300 Mexico 150 Apples 100 600
IMPORTANT: Pc=2 , Pp=4 , I=80
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