Kate can wax 2 cars per day or wash 6 cars. Jack can wax 2 cars per day or wash 4 cars.    Who has a comparative advantage in washing cars? What is the opportunity of washing cars?

In 50 words, tell the reason why PPF do not bow inward.

Randy and Frank are both landscapers. Randy can mow 12 lawns per day or prune 15 trees. Frank can mow 16 lawns per day or prune 24 trees. Randy and Frank each work 240 days per year. a. Determine who has the absolute advantage at each task, what their respective opportunity costs are for mowing a lawn, and who has comparative advantage in each task. (Click to select) (Click to select) The opportunity cost of mowing a lawn for Randy is The opportunity cost of mowing a lawn for Frank is (Click to select) ✓has a comparative advantage in mowing lawns. (Click to select) has a comparative advantage in pruning trees. b. Assuming that only one of the tasks is performed, then together Randy and Frank can service a maximum of lawns or trees each year. ✓has an absolute advantage in mowing lawns. ✓has an absolute advantage in pruning trees. trees. trees. c. If each landscaper fully specializes according to his comparative advantage, then the maximum number of lawns that can be mowed annually is…

In Italian restaurant, Jack needs 1 hour and a half to prepare pizza and 1 hour to make lasagna.   Pascal needs 2 hours to make a pizza and 1 hour and a half to make a lasagna. Which one has the comparative advantage in preparing pizza, in preparing lasagna. Explain your answer. Which one has the absolute advantage in preparing lasagna, in preparing Pizza. Explain your answer.

Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can either make 10 loaves of bread or 40 muffins, while Julia can either make 12 loaves of bread or 60 muffins. Both Martha and Julia work 8 hours a day. Draw julias daily PPC  What is the opportunity cost to each of making one loaf of bread? Martha's opportunity cost of making a loaf of bread    muffins Julia's opportunity cost of making a loaf of bread    muffins  What is the opportunity cost to each of making one muffin? Martha's opportunity cost of making a muffin    loaves of bread Julia's opportunity cost of making a muffin    loaves of bread Who has the comparative advantage in making bread? Julia Martha Neither  Who has the absolute advantage in making bread? Neither Martha Julia   Suppose you are the owner of the bakery. If Julia and Martha are currently both spending all of their time making muffins, then which of them should you ask to start making bread?…

Diego and Kris are roommates. They spend most of their time studying, but they leave some time for their favorite activities: making pizza and brewing root beer. Diego takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Kris takes 6 hours to brew a gallon of root beer and 4hours to make a pizza. a) What is each roommate's opportunity cost of making a pizza? Who has the absolute advantage in making pizza? Who has the comparative advantage in making pizza? b) If Diego and Kris trade foods with each other, who will trade away pizza in exchange for root beer? c) The price of pizza can be expressed in terms of gallons of root beer, what is the highest price at which pizza can be traded that would make both roommates better off? What is the lowest price? Why?

The table provides data on how long it takes Maia and Juanita to mow the lawn and weed the flower beds. Table: Maia and Juanita Maia Juanita Hours it takes to: Mow the lawn 3 4 Weed the flower beds 1 2 Who has a comparative advantage in weeding the flower beds? Maia because she can weed the beds more quickly. Juanita because she takes the time to weed the beds carefully. Maia because she has a lower opportunity cost. Juanita because she has a lower opportunity cost.

Robinson can catch 1 fish or gather 2 coconuts. in an hour, Bill can catch 1 fish or gather 1coconut.  In an hour, Chris can catch 8 fish or gather 2coconuts a. If production is organized according to comparative advantage, in what order will the three inhabitants collect coconuts? (That is, if only one of the three collects coconuts, who will it be? And if two of them collect coconuts, which two will it be?) b. Draw the production possibilities curve (PPC) when there is no specialization—that is, when each worker divides their time between fish and coconuts in the same way as the other two workers. Identify and explain the vertical intercept, the slope, and the horizontal intercept of the PPC in this case.

If Sport Country currently produces 100 bats and 400 rackets, what is the opportunity cost of an additional 100 bats? rackets. (only provide numbers, no alphabets or special characters). If Sport Country currently produces 300 bats and 300 rackets, what is the opportunity cost of an additional 100 bats? rackets. (only provide numbers, no alphabets or special characters). Suppose Sport Country currently produces 200 bats and 200 rackets. How many additional rackets could they produce without giving up any bats? rackets. (only provide numbers, no alphabets or special characters).

Bill and Fred bake cakes and pies. Bill's opportunity cost of baking 1 pie is 5 cakes. Fred's opportunity cost of baking 1 pie is 7 cakes. If both parties are to benefit from trade then we can expect 1 pie to sell for: