given this table please answer the gollowing 2 questions. will leave a thumbs up for the correct answer! thank you!! Table 3-3#1MariaCourtney2 coats3 coats4 coatsLabour hours needed to makeone unit:5 coatsSweater4020Coat85Amount produced in 40 hours:Sweater12Refer to Table 3-3. What is the opportunity cost of one sweater for Maria?Coat58 Refer to Table 3-3. What does each of the two producers have a comparative advantage in?Maria has a comparative advantage in coats, and Courtney has a comparative advantage in sweaters.Maria has a comparative advantage in both goods, and Courtney has a comparative advantage in neither good.Maria has a comparative advantage in sweaters, and Courtney has a comparative advantage in coats.Maria has a comparative advantage in neither good, and Courtney has a comparative advantage in both goods.

Given The production schedule of Maria and Courtney in 40 hours of labor Sweaters Coats…

Answered: Refer to Table 3-3. What is the…

Business

Economics

Refer to Table 3-3. What is the opportunity cost of one sweater for Maria? O 2 coats 3 coats 4 coats 5 coats

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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given this table please answer the gollowing 2 questions. will leave a thumbs up for the correct answer! thank you!!

Table 3-3
#1
Maria
Courtney
2 coats
3 coats
4 coats
Labour hours needed to make
one unit:
5 coats
Sweater
40
20
Coat
8
5
Amount produced in 40 hours:
Sweater
1
2
Refer to Table 3-3. What is the opportunity cost of one sweater for Maria?
Coat
5
8

Refer to Table 3-3. What does each of the two producers have a comparative advantage in?
Maria has a comparative advantage in coats, and Courtney has a comparative advantage in sweaters.
Maria has a comparative advantage in both goods, and Courtney has a comparative advantage in neither good.
Maria has a comparative advantage in sweaters, and Courtney has a comparative advantage in coats.
Maria has a comparative advantage in neither good, and Courtney has a comparative advantage in both goods.

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