Refer to the information provided in Table 2.1 below to answer the following question(s) .
Table 2.1
-Refer to Table 2.1. To maximize total production,
A) Krystal should specialize in writing TV commercials, and Mark should specialize in writing poems.
B) Mark should specialize in writing TV commercials, and Krystal should specialize in writing poems.
C) Krystal and Mark should both split their time between writing poems and writing TV commercials.
D) Krystal should write poems and write TV commercials, but Mark should only write poems.
Correct Answer:
Verified
Q1: The concept of trade-offs would become irrelevant
Q2: When two people trade,
A) both of them
Q3: Refer to the information provided in
Q4: Refer to the information provided in
Q6: Someone has a comparative advantage in producing
Q7: Which of the following would an economist
Q8: Outputs in the production process are
A) pollution.
B)
Q9: According to the theory of comparative advantage,
Q10: Refer to the information provided in
Q11: Suppose you are deciding whether to spend
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