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Suppose that Paulie and Vinny each can produce ice cream or t-shirts. it shows the quantity of each good that Paulie and Vinny...Asked by Lulu
Suppose that Paulie and Vinny each can produce ice cream or t-shirts. it shows the quantity of each good that Paulie and Vinny each can produce in one hour, respectively, if they devote all of their time and effort into making the good.
paulie can make 3 ice cream (cups)
paulie can make 18 t-shirts (quantity)
vinny can make 10 ice cream (cups)
vinny can make 11 t-shirts (quantity)
1. What is Paulie's opportunity cost of producing a cup of ice cream? (Round to two decimal places.)
2. What is Vinny's opportunity cost of producing a t-shirt? (Round to two decimal places.)
3. Paulie has a comparative advantage in _____ and Vinny has a comparative advantage in ____.
a.ice cream; t-shirts
b. t-shirts; ice cream
c.t-shirts; nothing
d.nothing; t-shirts
paulie can make 3 ice cream (cups)
paulie can make 18 t-shirts (quantity)
vinny can make 10 ice cream (cups)
vinny can make 11 t-shirts (quantity)
1. What is Paulie's opportunity cost of producing a cup of ice cream? (Round to two decimal places.)
2. What is Vinny's opportunity cost of producing a t-shirt? (Round to two decimal places.)
3. Paulie has a comparative advantage in _____ and Vinny has a comparative advantage in ____.
a.ice cream; t-shirts
b. t-shirts; ice cream
c.t-shirts; nothing
d.nothing; t-shirts
Answers
Answered by
Lulu
I found out a few answers myself
1. 6
2. ?
3. b
1. 6
2. ?
3. b
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