Question
Consider Frank and Alice, who own and operate a web-design business. Frank can produce a webpage in three hours (170 minutes), and he can also
Consider Frank and Alice, who own and operate a web-design business. Frank can produce a webpage in three hours (170 minutes), and he can also produce a web-based advertisement in 30 minutes. Alice can produce a webpage in two hours (130 minutes), and she can produce an advertisement in 30 minutes. You can assume that they have enough work from their clients to spend an entire day (eight hours) on either webpages or advertisements.
Frank's opportunity cost of producing one webpage is...advertisements. (Fill in the gap)
..... hasthe absolute advantage in producing webpages. (Fill in the gap)
Please fill in the gaps.
Please show calculations.
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