Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer the following questions. rant Cou... Bb myTCC - Bla... G Chapter 2 - j... TCC Tarrant Cou.. 10. Paula can design one web page

Answer the following questions.

image text in transcribed
rant Cou... Bb myTCC - Bla... G Chapter 2 - j... TCC Tarrant Cou.. 10. Paula can design one web page in 20 minutes. She can repair one bicycle in 10 minutes. Beth can design one web page in 30 minutes and repair one bicycle in 30 minutes. a. Who has a comparative advantage in creating web pages? b. Who has a comparative advantage in repairing bicycles? c. Who has an absolute advantage in both activities? d. If the town demanded 20 web pages per day, and Paula devoted half of her 8 hour day creating web pages and half of her day repairing bicycles, how many web pages would she create and how many bicycles would she repair? e. How much time would it take Beth to complete the remaining web pages, and how many bicycles would she repair in the time remaining? 1 1. Kate can wax 2 cars per day or wash 6 cars. Jack can wax 2 cars per day or wash 4 cars. Who has a comparative advantage in washing cars? What is the opportunity of washing cars? 12. Taylor and Bobby are auto mechanics. Taylor takes 12 hours to replace an engine and 4 hours to replace a set of brakes. Bobby takes 8 hours to replace an engine and 4 hours to replace a set of brakes. State whether anyone has an absolute advantage at either task and, for each task identify who has a comparative advantage

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles A Business Perspective Financial Accounting Chapter 1-8

Authors: James Edwards, Roger Hermanson, Bill Buxton

1st Edition

1461088186, 978-1461088189

More Books

Students also viewed these Economics questions

Question

Brief the importance of span of control and its concepts.

Answered: 1 week ago

Question

What is meant by decentralisation?

Answered: 1 week ago

Question

Pay him, do not wait until I sign

Answered: 1 week ago

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago