Tom and Jerry have two tasks to do all day: make dishes and build fences.If Tom spends all day making dishes,he will have make 16 dishes.If he instead devotes his day to building fences,Tom will build 4 fences.If Jerry spends his day making dishes,he will make 14 dishes; if he spends the day building fences,he will build 7 fences.Jerry has a comparative advantage in:
A) dish production because he has the lower opportunity cost of a dishes.
B) dish production because he has the higher opportunity cost of a dishes.
C) fence production because he has the lower opportunity cost of a fence.
D) fence production because he has the higher opportunity cost of a fence.
Correct Answer:
Verified
Q102: The improvement in outcomes that occurs when
Q108: Tom and Jerry have two tasks to
Q109: If Spain is capable of producing either
Q110: People will choose to specialize and trade
Q111: Suppose that a worker in Country A
Q112: People often choose to specialize and trade
Q114: Tom and Jerry have two tasks to
Q115: Tom and Jerry have two tasks to
Q117: Tom and Jerry have two tasks to
Q118: If France is capable of producing either
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