Youve seen that Lizs opportunity cost of a smoothie is 1 salad, whereas Joes opportunity cost of

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You’ve seen that Liz’s opportunity cost of a smoothie is 1 salad, whereas Joe’s opportunity cost of a smoothie is 5 salads. To produce 1 smoothie,

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Nov 08, 2024 07:00 AM

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Youve seen that Lizs opportunity cost of a smoothie is 1 salad, whereas Joes opportunity cost of a smoothie is 5 salads. To produce 1 smoothie,
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Liz must forgo 1 salad while Joe must forgo 5 salads. So, because Liz forgoes fewer salads to make a smoothie, she has a comparative advantage in producing smoothies.
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Youve seen that Lizs opportunity cost of a smoothie is 1 salad, whereas Joes opportunity cost of

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Foundations Of Microeconomics

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