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Scenario: Mike and John work as waiters in a restaurant. Mike can efficiently wait on ten customers ...

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Scenario: Mike and John work as waiters in a restaurant. Mike can efficiently wait on ten customers ...

Scenario: Mike and John work as waiters in a restaurant. Mike can efficiently wait on ten customers per hour, while John can efficiently wait on seven customers per hour. The restaurant also has a bar. If both of them work as bartenders, Mike is able to serve nine customers per hour and John is able to serve ten customers per hour.

Refer to the scenario above. Which of the following statements is TRUE in this case?

▸ John has an absolute advantage in waiting tables.

▸ John has a comparative advantage in waiting tables.

▸ Mike has an absolute advantage in bartending.

▸ Mike has a comparative advantage in waiting tables.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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mlwpcd

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More solutions for this book are available here

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teranine Author

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Correct

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