Suppose that Chad and Eric work at an auto shop. Chad can change the oil in 5
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Question:
Suppose that Chad and Eric work at an auto shop. Chad can change the oil in cars per day, or wash cars per day. Eric can change the oil in cars per day, or wash cars per day. Use this information to answer the five questions below.
Who has the absolute advantage in changing oil?
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Who has the absolute advantage in washing cars?
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What is Chads opportunity cost of washing one car? If your answer is a fraction, round to two decimal places.
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What is Erics opportunity cost of washing one car? If your answer is a fraction, round to two decimal places.
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Who has the comparative advantage in washing cars?
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Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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