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Consider two individuals-Lisa and Mitch.We have the following information about each person's productivity: Task Lisa Mitch Ironing Clothes 4 hours 5 hours Washing Clothes 3
Consider two individuals-Lisa and Mitch.We have the following information about each person's productivity:
Task
Lisa
Mitch
Ironing Clothes
4 hours
5 hours
Washing Clothes
3 hours
6 hours
a)Calculate Lisa's opportunity cost of ironing clothes and washing clothes
b)Calculate Mitch's opportunity cost of ironing and washing clothes
c)Who has the comparative advantage in ironing?
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