hotdogs burgers becky 20 20 john 18 6 Looking at the table above, please answer the...
|
hotdogs |
burgers |
|
|
becky |
20 |
20 |
|
john |
18 |
6 |
Looking at the table above, please answer the following questions
Who has the absolute advantage in hot dog production and burger production?
Who has the comparative advantage in hot dog production and burger production. Make sure to explain your answer
Homework Answers
a) Becky has an absolute advantage in both the hot dog production and burger production. because numerically Becky can produce more goods as compared to john.
b) the opportunity cost of producing Hotdogs by Becky is 1 burger i.e. she has to give up 1 burger to produce 1 hotdog and for John it is 0.33 burger, So, John has a comparative advantage in the production of hotdogs and Becky has a comparative advantage in the production of burgers.
Add Answer to:
hotdogs
burgers
becky
20
20
john
18
6
Looking at the table
above, please answer the...
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