Tina can allocate her 8 hour day between baking and cooking. Each hour devoted to baking yields 2 cakes whereas each hour spent cooking produces 4 plates of food. Tina's neighbour, ingrid can produce cakes or 4 plates of food per hour. Tina can allocate her 8-hour day between baking and cooking. Each hour devoted to baking yields 2 cakes whereas each hoproduces 4 plates of food. Tina's neighbour, Ingrid, can produce 3 cakes or 4 plates of food per hour.Who has the absolute advantage in the production of cakes?Who has the absolute advantage in the production of food?Who has a comparative advantage in the production of cakes? Choose...Who has a comparative advantage in the production of food?What is the opportunity cost for food?Choose...Choose...Choose...Choose...Choose...Ingrid produce more than Tina using same resources.Tina produce with lower opportunity cost.Tina produce more than Ingrid using less resources.0.5 food for Tina and 0.75 food for Ingrid.Neither Ingrid or Tina.Ingrid produce more than Tina using less resources.2 cakes for Tina and 1.33 cakes for Ingrid.Tina produce more than Ingrid using same resources.Tina produce more than Ingrid using more resources.2 food for Tina and 1.33 food for Ingrid.0.5 cakes for Tina and 0.75 cakes for Ingrid.Ingrid produce with lower opportunity cost.Ingrid produce more than Tina using more resources.◆«

Answered: Tina can allocate her 8-hour day…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Tina can allocate her 8 hour day between baking and cooking. Each hour devoted to baking yields 2 cakes whereas each hour spent cooking produces 4 plates of food. Tina's neighbour, ingrid can produce cakes or 4 plates of food per hour.

Tina can allocate her 8-hour day between baking and cooking. Each hour devoted to baking yields 2 cakes whereas each ho
produces 4 plates of food. Tina's neighbour, Ingrid, can produce 3 cakes or 4 plates of food per hour.
Who has the absolute advantage in the production of cakes?
Who has the absolute advantage in the production of food?
Who has a comparative advantage in the production of cakes? Choose...
Who has a comparative advantage in the production of food?
What is the opportunity cost for food?
Choose...
Choose...
Choose...
Choose...
Choose...
Ingrid produce more than Tina using same resources.
Tina produce with lower opportunity cost.
Tina produce more than Ingrid using less resources.
0.5 food for Tina and 0.75 food for Ingrid.
Neither Ingrid or Tina.
Ingrid produce more than Tina using less resources.
2 cakes for Tina and 1.33 cakes for Ingrid.
Tina produce more than Ingrid using same resources.
Tina produce more than Ingrid using more resources.
2 food for Tina and 1.33 food for Ingrid.
0.5 cakes for Tina and 0.75 cakes for Ingrid.
Ingrid produce with lower opportunity cost.
Ingrid produce more than Tina using more resources.
◆
«

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Comparative advantage is the capacity of a country to produce a good or service for a lower opportunity cost than different nations.

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