Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Table 2-11. Tammi Horace Dogs Groomed 20 12 Cats Bathed 10 Table 2-11 shows the output per day of two pet groomers, Tammi and Horace.
Table 2-11. Tammi Horace Dogs Groomed 20 12 Cats Bathed 10 Table 2-11 shows the output per day of two pet groomers, Tammi and Horace. They can either devote their time to grooming dogs or bathing cats. 37) Refer to Table 2-11. Which of the following statements is true? A) Horace has an absolute advantage in both tasks. By Tammi has an absolute advantage in both tasks. C) Horace has an absolute advantage in dog grooming and Tammi in cat bathing. D) Horace has an absolute advantage in cat bathing and Tammi in dog grooming. 38) Refer to Table 2-11. What is Horace's opportunity cost of grooming a dog? A) half a bathed cat B) two bathed cats Cytwo-thirds of a bathed cat D) one and a half bathed cats 39) Refer to Table 2-11. What is Tammi's opportunity cost of grooming a dog? A) half a bathed cat B) two bathed cats C) two-thirds of a bathed cat D) one and a half bathed cats 40) Refer to Table 2-11. Which of the following statements is true? A) Horace has a comparative advantage in both tasks. B) Tammi has a comparative advantage in both tasks. Horace has a comparative advantage in grooming dogs and Tammi in bathing cats. D) Horace has a comparative advantage in bathing cats and Tammi in grooming dogs
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started