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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