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 a comparative advantage?
A) Yes,Mikhail has a comparative advantage in both sculptures and paintings.
B) Yes,Stefan has a comparative advantage in both sculptures and paintings.
C) Yes,Mikhail has a comparative advantage in paintings,and Stefan has a comparative advantage in sculptures.
D) Yes,Mikhail has a comparative advantage in sculptures,and Stefan has a comparative advantage in paintings.
E) No,neither has a comparative advantage.

Question

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 a comparative advantage?
A) Yes,Mikhail has a comparative advantage in both sculptures and paintings. 
B) Yes,Stefan has a comparative advantage in both sculptures and paintings. 
C) Yes,Mikhail has a comparative advantage in paintings,and Stefan has a comparative advantage in sculptures. 
D) Yes,Mikhail has a comparative advantage in sculptures,and Stefan has a comparative advantage in paintings. 
E) No,neither has a comparative advantage.

Quizplus · Accepted Answer

Comparative advantage refers to the ability of an individual or a country to produce a particular good at a lower opportunity cost than another individual or country. Based on the table, Mikhail can produce 2 paintings or 1 sculpture per day, while Stefan can produce 3 sculptures or 1 painting per day. Therefore, Mikhail's opportunity cost of producing one sculpture is 2 paintings, while Stefan's opportunity cost of producing one sculpture is only 1/3 of a painting. This means that Stefan has a comparative advantage in sculptures, while Mikhail has a comparative advantage in paintings. Thus, the best choice is C.

Mikhail and Stefan Are Both Artists Who Can Create Sculptures