Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

It takes Mom 30 minutes to cook dinner. In the same time, she can iron 6 shirts. Dad takes an hour to cook dinner and

It takes Mom 30 minutes to cook dinner. In the same time, she can iron 6 shirts. Dad takes an hour to cook dinner and 30 minutes to iron a single shirt.

Question 10Select one:

A.Dad should cook dinner; the opportunity cost is only 2 shirts.

B.Mom should cook dinner and iron; trade is impossible.

C.Dad has an absolute advantage in ironing shirts.

D.Dad has an absolute advantage in cooking.

E. Dad should cook dinner; the opportunity cost is only 1 shirt.

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

Applied Business Ethics A Skills-Based Approach

Authors: Dean Bredeson

1st edition

538453982, 978-1133419068, 1133419062, 978-0538453981

More Books

Students also viewed these Economics questions

Question

3. Dont make threats or raise your voice.

Answered: 1 week ago