Mikhail and Stefan are both artists who can create sculptures or paintings each day.The following table describes their maximum outputs per day.
Use this table to answer the following questions.
-Based on the table,does Mikhail or Stefan have an absolute advantage?
A) Yes,Mikhail has an absolute advantage in both sculptures and paintings.
B) Yes,Stefan has an absolute advantage in both sculptures and paintings.
C) Yes,Mikhail has an absolute advantage in paintings,and Stefan has an absolute advantage in sculptures.
D) Yes,Mikhail has an absolute advantage in sculptures,and Stefan has an absolute advantage in paintings.
E) No,neither has an absolute advantage.
Correct Answer:
Verified
Q40: How will a reduction in the national
Q41: When the opportunity cost of producing a
Q42: Opportunity cost is evident on the production
Q43: Mikhail and Stefan are both artists who
Q44: Mikhail and Stefan are both artists who
Q46: use the figure below to answer
Q47: The _ states that the opportunity cost
Q48: use the figure below to answer
Q49: Consider the production possibilities frontier (PPF)shown in
Q50: use the figure below to answer
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents