Please answer only if you are sure about the correct answers:the MeganLarryneither person1 Comparative and absolute advantageLarry and Megan run a catering business in which they have two major tasks: getting new clients and preparing food for events and parties. It takesLarry 16 hours to prepare the food for an event and 4 hours of effort to get each new client. For Megan, it takes 10 hours to prepare food for an eventand 5 hours to get a new client.In this scenario,A has an absolute advantage in food preparation, andhas a comparative advantage in foodpreparatlon.Suppose that initially, Larry and Megan are splitting both tasks for a large number of events. Then they decide to start shifting some work according tothe principle of comparative advantage. In particular, the person with the comparative advantage in food preparation will take over preparing food forone more event by taking the necessary time away from getting more clients, and the other person will use the freed-up time from not preparingfood for one event to get more clients.As a result, the total number of events for which food is prepared will remain unchanged, but the number of new clients will increase by

Name: Please answer only if you are sure about the correct answers:the Megan
Uploaded: 2022-12-02T21:52:30.000Z
Channel: Bartleby
Description: Please answer only if you are sure about the correct answers:the MeganLarryneither person1 Comparative and absolute advantageLarry and Megan run a catering business in which they have two major tasks: getting new clients and preparing food for events