Lili can do 60 econ or 40 math problems in 1 hour. Alan can do 50 econ or 30 math problems in one hour. Which of the following statements is true? A.Alan can benefit from exchange with Lili but Lili can’t benefit from exchange with Alan B.Lili can benefit from exchange with Alan but Alan can’t benefit from exchange with Lili C.Both Lili and Alan can’t benefit from exchange D.Both Lili and Alan can benefit from exchange

Comparative Advantage means an individual can produce a specific product at a lower marginal…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Lili can do 60 econ or 40 math problems in 1 hour. Alan can do 50 econ or 30 math problems in one hour. Which of the following statements is true?

	A.	Alan can benefit from exchange with Lili but Lili can’t benefit from exchange with Alan
	B.	Lili can benefit from exchange with Alan but Alan can’t benefit from exchange with Lili
	C.	Both Lili and Alan can’t benefit from exchange
	D.	Both Lili and Alan can benefit from exchange

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