Question: Gains from Trade - End of Chapter Problem Olivia and Yixing are volunteering at a cat rescue shelter. The shelter supervisor asks them to clean
Gains from Trade End of Chapter Problem
Olivia and Yixing are volunteering at a cat rescue shelter. The shelter supervisor asks them to clean out kennels and haul bags of cat food from the donation area into storage. It takes Olivia minutes to clean out a kennel and minutes to move a bag of food. It takes Yixing minutes to clean out a kennel and minutes to move a bag of food. For the following questions, round each answer to the nearest tenth.
a has an absolute advantage in completing both tasks.
b Olivia's opportunity cost of cleaning a kennel: bags of food moved.
c Olivia's opportunity cost of moving one bag of food:
kennels cleaned.
d Yixing's opportunity cost of cleaning a kennel: bags of food moved.
e Yixing's opportunity cost of moving one bag of food:
kennels cleaned.
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