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ENGR.ECONOMIC ANALYSIS

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Debra can make either 12 cakes or 16 cookies in 4 hours. Sam can make either 6 cakes or 12
cookies in 4 hours.
a. Who has an absolute advantage at producing cakes and who has an absolute
advantage at producing cookies? Briefly explain your answers.
b. State Debra's and Sam's opportunity costs of producing one cake and one cookie.
Draw and place your answer in a table which looks something like this:
Cake
Cookie
Debra
Sam

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