Tom and Abby produce rackets and balls. The graphs show their production possibilities. Tom uses all his resources and produces 2 rackets and 20 balls an hour. Abby uses all her resources and produces 2 rackets and 40 balls an hour. What is Tom's opportunity cost of producing a racket? What is Abby's opportunity cost of producing a racket? Who has a comparative advantage in producing balls? Who has a comparative advantage in producing rackets? Tom's opportunity cost of producing a racket is balls.
Tom and Abby produce rackets and balls. The graphs show their production possibilities. Tom uses all his resources and produces 2 rackets and 20 balls an hour. Abby uses all her resources and produces 2 rackets and 40 balls an hour. What is Tom's opportunity cost of producing a racket? What is Abby's opportunity cost of producing a racket? Who has a comparative advantage in producing balls? Who has a comparative advantage in producing rackets? Tom's opportunity cost of producing a racket is balls.
Chapter2: Economic Tools And Economic Systems
Section: Chapter Questions
Problem 3.5P
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Transcribed Image Text:Tom and Abby produce rackets and balls. The graphs show their production possibilities.
Tom uses all his resources and produces 2 rackets and 20 balls an hour. Abby uses all her
resources and produces 2 rackets and 40 balls an hour.
What is Tom's opportunity cost of producing a racket? What is Abby's opportunity cost of
producing a racket?
Who has a comparative advantage in producing balls? Who has a comparative advantage in
producing rackets?
Tom's opportunity cost of producing a racket is
balls.
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