You and a friend have decided to work jointly on a course project. Frankly, your friend is
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You and a friend have decided to work jointly on a course project. Frankly, your friend is a less-than ideal partner. His skills as a researcher are such that he can review and outline only two articles a day. Moreover, his hunt-and-peck style limits him to only 10 pages of typing a day. On the other hand, in a day you can produce six outlines or type 20 pages.
a. Who has an absolute advantage in outlining, you or your friend? What about typing?
b. Who has a comparative advantage in outlining? In typing?
c. According to the principle of comparative advantage, who should specialize in which task?
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a You have an absolute advantage in outlining since you can produce four more outlines each day th...View the full answer
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Related Book For
Macroeconomics Principles and Applications
ISBN: 978-1133265238
5th edition
Authors: Robert e. hall, marc Lieberman
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