Mark can cook dinner in 30 minutes and wash thelaundry in 20 minutes. His roommate takes half aslong to do each task. How should the roommatesallocate the work?a. Mark should do more of the cooking based on hiscomparative advantage.b. Mark should do more of the washing based on hiscomparative advantage.c. Mark should do more of the washing based on hisabsolute advantage.d. There are no gains from trade in this situation.
Mark can cook dinner in 30 minutes and wash thelaundry in 20 minutes. His roommate takes half aslong to do each task. How should the roommatesallocate the work?a. Mark should do more of the cooking based on hiscomparative advantage.b. Mark should do more of the washing based on hiscomparative advantage.c. Mark should do more of the washing based on hisabsolute advantage.d. There are no gains from trade in this situation.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Frontiers Of Microeconomics
Section: Chapter Questions
Problem 6PA
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Mark can cook dinner in 30 minutes and wash the laundry in 20 minutes. His roommate takes half as long to do each task. How should the roommates allocate the work? a. Mark should do more of the cooking based on his comparative advantage. b. Mark should do more of the washing based on his comparative advantage. c. Mark should do more of the washing based on his absolute advantage. d. There are no |
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