I have this Comparative advantage activity, y already made all the questions but I'm struggling with the question #11 Bb Microsoft Word>V Ten Principles of xb bartleby - search xb My Questions |b: x +ContentG Google Translate xspecialization cor x->Ô https://learn-us-east-1-prod-fleet01-xythos.content.blackboardcdn.com/blackboard.learn.xythos.prod/584b1d8497c84/121..+...of 1|(B Page view | A Read aloud V DrawY HighlightO Erase 61Comparative Advantage ActivityName• Terry and Casey are roommates in an apartment.• You want to determine whether they will be better off by doing their own work (being self-sufficient),or specializing and trading with their roommate.In 1 day, Terry com complete 6 loods of laundry or prepare 12 meals.In 1 day, Casey can complete 2 loads of laundry or prepare 12 meals.1. Definition of absolute advantage2. Who has the absolute advantage in laundry?5. In cooking?3. Definition of comparative advantage:4. What is Terry's opportunity cost of doing 1 load of laundry? (= meals/laundry).Casey's?5. Who has the comparative advantage in laundry?How do you know?6. What is Terry's opportunity cost of preparing 12 meals? (= laundry/meals)Casey's?7. Who has the comparative advantage in cooking?How do you know?8. Self-sufficiency: If you and you roommate were self-sufficient and split your day evenly between laundry andcooking, how many meals and clean loads would you jointly produce? (fill in table)9. Specialization: If you each spent the day doingClean loadsMealsthe activity in which you have a comparativeadvantage, how much will you two produce? (fill intable)8. Self-sufficientTerryCaseyTotal10. When is total output of the apartmentgreater? Self-sufficientspecialize9. SpecializeТerryCasey11. How can the roommates trade laundry for_0_meals so you both benefit from specialization?_0_(Compare what you have invand barterl)Total11. After barter:TerryCasey*12. Terry is more capable than Casey. Does thatmean he has nothing to gain from trading with hisless capable roommate? Explain."Mart important idea to undenstand trom this eercisel7:30 PMP Type here to searchHi76°FE O G 4» ENG10/21/2021

Name: I have this Comparative advantage activity, y already made all the que
Uploaded: 2022-12-02T21:52:30.000Z
Channel: Bartleby
Description: I have this Comparative advantage activity, y already made all the questions but I'm struggling with the question #11 Bb Microsoft Word>V Ten Principles of xb bartleby - search xb My Questions |b: x +ContentG Google Translate xspecialization cor x->Ô