In order to fix 1 car tire, jerry fixed 3 bicycle tires. In order to fix 1...
- In order to fix 1 car tire, jerry fixed 3 bicycle tires. In order to fix 1 car tire, berry fixes 5 bike tires, who has the comparative advantage
Please answer carefully.
Thank you!
Homework Answers
Answer : Here for Jerry the opportunity cost of 1 car tire is 3 bicycle tires. Whereas for Berry the opportunity cost of 1 car tire is 5 bike tires. As here Jerry has lower opportunity cost than Berry for 1 car tire hence Jerry has the comparative advantage.
Therefore, the answer is "Jerry has comparative advantage".
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