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Consider two individuals, Nigel and Mia, who produce hair pins and bandanas.

wrote...
Posts: 224
3 weeks ago
 ​ Hair Pins /hour Bandanas /hour Nigel 4 10 Mia 9 3

Table 3.3

Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Nigel's opportunity cost of producing one bandana is:

▸ 1/4 of a hair pin.

▸ 2/5 of a hair pin.

▸ 2.5 hair pins.

▸ 4 hair pins.
Textbook
 Microeconomics: Principles, Applications, and Tools Edition: 8th Authors: O'Sullivan, Sheffrin, Perez
19 Replies
Do What Makes You Come Alive
Replies
Answer verified by a subject expert
wrote...
Posts: 202
3 weeks ago
wrote...
3 weeks ago
 Good timing, thanks!
 Do What Makes You Come Alive
wrote...
3 weeks ago
 ​ Hair Pins /hour Bandanas /hour Nigel 4 10 Mia 9 3

Table 3.3

Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Nigel's opportunity cost of producing one hair pin is:

▸ 1/3 of a bandana.

▸ 2.5 bandanas.

▸ 3 bandanas.

▸ 10 bandanas.
wrote...
3 weeks ago
 2.5 bandanas.
wrote...
3 weeks ago
 ​ Hair Pins /hour Bandanas /hour Nigel 4 10 Mia 9 3

Table 3.3

Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Mia's opportunity cost of producing one bandana is:

▸ 1/3 of a hair pin.

▸ 2.5 hair pins.

▸ 3 hair pins.

▸ 9 hair pins.
wrote...
3 weeks ago
 3 hair pins.
wrote...
3 weeks ago
 You make an excellent tutor!
wrote...
3 weeks ago
 ​ Hair Pins /hour Bandanas /hour Nigel 4 10 Mia 9 3

Table 3.3

Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Mia's opportunity cost of producing one hair pin is:

▸ 1/3 of a bandana.

▸ 2.5 bandanas.

▸ 3 bandanas.

▸ 10 bandanas.
wrote...
3 weeks ago
 1/3 of a bandana.
wrote...
3 weeks ago
 ​ Hair Pins /hour Bandanas /hour Nigel 4 10 Mia 9 3

Table 3.3

Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Which of the following is true?

▸ Nigel has an absolute advantage in producing hair pins but not bandanas.

▸ Nigel has an absolute advantage in producing bandanas but not hair pins.

▸ Nigel has an absolute advantage in producing both goods.

▸ Nigel does not have an absolute advantage in producing either good.
wrote...
3 weeks ago
 Nigel has an absolute advantage in producing bandanas but not hair pins.
wrote...
3 weeks ago
 Exactly what I needed for my project, TYSM
wrote...
3 weeks ago
 ​ Hair Pins /hour Bandanas /hour Nigel 4 10 Mia 9 3

Table 3.3

Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Which of the following is true?

▸ Nigel has a comparative advantage in producing hair pins but not bandanas.

▸ Nigel has a comparative advantage in producing bandanas but not hair pins.

▸ Nigel has a comparative advantage in producing both goods.

▸ Nigel does not have a comparative advantage in producing either good.
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