Table 3-3 Maria Courtney Labour hours needed to make one unit: Sweater 40 20 Coat 8 5 Amount produced in 40 hours: Sweater 1 2 Coat 5 8 Refer to Table 3-3. What does each of the two producers have a comparative or absolute advantage in? Oa Maria has an absolute advantage in coats, and Courtney has a comparative advantage in sweaters. Ob. Maria has an absolute advantage in both goods, and Courtney has a comparative advantage in coats. O.C. Maria has an absolute advantage in sweaters, and Courtney has a comparative advantage in sweaters. d. Maria has an absolute advantage in neither good, and Courtney has a comparative advantage in sweaters.

Table 3-3 Maria Courtney Labour hours needed to make one unit: Sweater 40 20 Coat 8 5 Amount produced in 40 hours: Sweater 1 2 Coat 5 8 Refer to Table 3-3. What does each of the two producers have a comparative or absolute advantage in? Oa Maria has an absolute advantage in coats, and Courtney has a comparative advantage in sweaters. Ob. Maria has an absolute advantage in both goods, and Courtney has a comparative advantage in coats. O.C. Maria has an absolute advantage in sweaters, and Courtney has a comparative advantage in sweaters. d. Maria has an absolute advantage in neither good, and Courtney has a comparative advantage in sweaters.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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