Mike and Sandy are two woodworkers who both make tables and chairs.In one month,Mike can make 4 tables or 20 chairs,where Sandy can make 6 tables or 18 chairs.Who has an absolute advantage in which product?
A) Mike in chairs, Sandy in tables
B) both Mike and Sandy in tables
C) both Mike and Sandy in chairs
D) Mike in tables, Sandy in chairs
Correct Answer:
Verified
Q101: Both Canada and the U.S.can produce equally
Q102: What does comparative advantage reflect?
A)productivity.
B)relative opportunity cost.
C)efficiency.
D)terms
Q102: What happens when countries specialize according to
Q103: Greece and Germany can both produce fish
Q104: Why does total output in an economy
Q107: What is the term that means whatever
Q108: Mike and Sandy are two woodworkers who
Q110: What is the opportunity cost of an
Q115: What should a country do if it
Q119: Which of the following would NOT occur
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