26. a. Calculate Kims opportunity cost of a pie and Liams opportunity cost of a pie. b....

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26.

a. Calculate Kim’s opportunity cost of a pie and Liam’s opportunity cost of a pie.

b. If each spends 30 minutes of each hour producing pies and 30 minutes producing cakes, how many pies and cakes does each produce?

c. Who has a comparative advantage in producing pies? Who has a comparative advantage in producing cakes?

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Parkin Macroeconomics

ISBN: B0070OLVAC

10th Edition

Authors: Michael Parkin

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Question Posted: Nov 05, 2024 11:00 AM

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26. a. Calculate Kims opportunity cost of a pie and Liams opportunity cost of a pie. b....

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Parkin Macroeconomics

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