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wrote...
Posts: 84
2 weeks ago

Question 1.

The ability to produce a good at a lower opportunity cost than others is known as

• specialization.

• absolute advantage.

• marginal cost production.

• comparative advantage.

Question 2.

Jose and Maria work at a restaurant. Jose can make either 10 pancakes or 4 waffles; Maria can make either 8 pancakes or 2 waffles. According to this scenario, the opportunity cost of making one pancake for Jose is

• 2/5 waffle.

• 4 waffles.

• 2.5 waffles.

• 1/4 waffle.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
Read 7 times
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Answer verified by a subject expert
wrote...
Posts: 65
2 weeks ago
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Answer 1

comparative advantage.

Answer 2

2/5 waffle.
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2 weeks ago
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