John takes 10 minutes to iron a shirt and 20 minutes to type a paper.Harry takes 10 minutes to iron a shirt and 30 minutes to type a paper.Which statement best describes Harry's advantage?

Question

Quizplus · Accepted Answer

Comparative advantage refers to the ability to perform a particular task at a lower opportunity cost than another. Harry and John both take the same amount of time to iron a shirt (10 minutes), but Harry takes longer to type a paper (30 minutes compared to John's 20 minutes). Therefore, neither has an absolute advantage in ironing since they both require the same amount of time. However, because Harry is relatively less efficient at typing, his opportunity cost of ironing (in terms of the time he could spend typing) is higher, making his comparative advantage in ironing, not because he is faster, but because he is less disadvantaged in ironing compared to typing.

John Takes 10 Minutes to Iron a Shirt and 20