MIKE & DEBBY Mike Debby Vacuum room 60 minutes 45 minutes Wash Dishes 30 minutes 45 minutes 1. What is Mike's opportunity cost of vacuuming in terms of washing dishes What is Mike's opportunity cost of washing dishes in terms of vacuuming? What is Debbie's opportunity cost of vacuuming in terms of washing dishes? What is Debbie's opportunity cost of washing dishes in terms of vacuuming? Who has the absolute advantage in vacuuming? Who has the absolute advantage in washing dishes? Who has the comparative advantage in vacuuming? Who has the comparative advantage in washing dishes? Who should do which chore and why? 2. 3. 4. 5. 6. 7. 8. 9.

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Frontiers Of Microeconomics
Section: Chapter Questions
Problem 6PA
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MIKE & DEBBY
Mike
Debby
60 minutes
45 minutes
Vacuum room
30 minutes
45 minutes
Wash Dishes
1.
What is Mike's opportunity cost of vacuuming in terms of washing dishes
What is Mike's opportunity cost of washing dishes in terms of vacuuming?
What is Debbie's opportunity cost of vacuuming in terms of washing dishes?
What is Debbie's opportunity cost of washing dishes in terms of vacuuming?
Who has the absolute advantage in vacuuming?
Who has the absolute advantage in washing dishes?
Who has the comparative advantage in vacuuming?
Who has the comparative advantage in washing dishes?
Who should do which chore and why?
2.
3.
4.
5.
6.
7.
8.
9.
Transcribed Image Text:MIKE & DEBBY Mike Debby 60 minutes 45 minutes Vacuum room 30 minutes 45 minutes Wash Dishes 1. What is Mike's opportunity cost of vacuuming in terms of washing dishes What is Mike's opportunity cost of washing dishes in terms of vacuuming? What is Debbie's opportunity cost of vacuuming in terms of washing dishes? What is Debbie's opportunity cost of washing dishes in terms of vacuuming? Who has the absolute advantage in vacuuming? Who has the absolute advantage in washing dishes? Who has the comparative advantage in vacuuming? Who has the comparative advantage in washing dishes? Who should do which chore and why? 2. 3. 4. 5. 6. 7. 8. 9.
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