Question

Table 2-3 Bracelets Necklaces Serena 8 16 Haley 9 12 Table 2-3 shows the outputper week of wojwelers, Serena and Hally. They can either devote their time to makng bracelets or making necklaces. 13) Refer to Table 2-3. Which of the folbwing statements is true? 13) A Haly has an absolite advantage in makina necklaces and Serena in making bracelets. B Haley has an absolute advantage in making both products. C Haly has an absolute advantage in making bracelets and Serena in making necklaces D Serena has an absolute advantage in making both products. 14) 14) Refer to Table 2-3. What is aley's opportunity costofm aking a bracelet? A) 34 of a bracelet B) 11/3 neck hoes C3 bracelets D2 neck hces 15) 15) Refer to Table 2-3. What is Serena's opportunity costofm aking a bracelet A 1/2 of a bracelet B) 34 of a bracelet C) 1/2 of a necklace D, 2 necklaces 16 16) Refer to Table 2-3. Which of the following statements is true? A Haley has a comparative advantage n making bracelets and Serena in making necklaces. B Haley has a comparative advantagen making necklaces and Serena in making bracelets. CHaley has a comparative advantage in making both products. D Serena has a com parative advantage in making both products.

how do you compute those numbers for #14 and #15

Answer 1

Answer 14. 1 1/3 necklace

Reason- Haley can either make 9 bracelets or 12 Necklaces.

The opportunity cost of making 1 bracelet is the amount of necklace she can make with the same resources.

So, the opportunity cost of 1 bracelet= 12/9 necklaces= 4/3 necklaces= 1 1/3 necklace.

Answer 15. 2 necklace

Reason- Serena can either make 8 bracelets or 16 Necklaces.

In other words, she can make either 1 bracelet or 2 necklaces.

The opportunity cost of making 1 bracelet is the amount of necklace she can make with the same resources.

So, the opportunity cost of 1 bracelet= 16/8 necklaces= 2 necklaces.

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