3. You are given the following information about a newlywed couple and the time it takes each of them to do two different chores: vacuuming the house or doing the laundry. (8 marks) a) What is Lois's opportunity cost of vacuuming in terms of doing laundry? b) What is Lois's opportunity cost of doing laundry in terms of vacuuming? c) What is Graham's opportunity cost of vacuuming in terms of doing laundry? d) What is Graham's opportunity cost of doing laundry in terms of Vacuuming? e) Who has the absolute advantage in vacuuming? f) Who has the absolute advantage in doing laundry? 9) Who has the comparative advantage in vacuuming? h) Who has the comparative advantage in doing laundry? PART 2 a) Profits will be maximized at a level of output of how many units? (2 mark) b) At this level of output, what will prots be? Show your calculations. (3 marks) C) Is this rm operating in a perfectly competitive market? Explain. (2 marks)