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tlc_71111 tlc_71111
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Posts: 507
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4 years ago
​Hair Pins /hourBandanas /hour
Nigel410
Mia93

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

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
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19 Replies
Do What Makes You Come Alive
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qwer34qwer34
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#1
Posts: 376
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4 years ago
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tlc_71111 Author
wrote...
#2
4 years ago
Good timing, thanks!
Do What Makes You Come Alive
wrote...
#3
4 years ago
​Hair Pins /hourBandanas /hour
Nigel410
Mia93

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...
#4
4 years ago
2.5 bandanas.
wrote...
#5
4 years ago
​Hair Pins /hourBandanas /hour
Nigel410
Mia93

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...
#6
4 years ago
3 hair pins.
wrote...
#7
4 years ago
You make an excellent tutor!
wrote...
#8
4 years ago
​Hair Pins /hourBandanas /hour
Nigel410
Mia93

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...
#9
4 years ago
1/3 of a bandana.
wrote...
#10
4 years ago
​Hair Pins /hourBandanas /hour
Nigel410
Mia93

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...
#11
4 years ago
Nigel has an absolute advantage in producing bandanas but not hair pins.
wrote...
#12
4 years ago
Exactly what I needed for my project, TYSM
wrote...
#13
4 years ago
​Hair Pins /hourBandanas /hour
Nigel410
Mia93

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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