-The Figure Above Shows Prakash's and Gail's Production Possibilities Frontiers

question 185

Essay

-The figure above shows Prakash's and Gail's production possibilities frontiers for writing books and magazine a
a) What is Prakash's opportunity cost of a book? What is Gail's opportunity cost? Who has the comparative adv in writing books?
b) Who has the comparative advantage in writing magazine articles?
c) According to their comparative advantages, who should write books and who should write magazine article

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Definitions:

Small Talk

Casual or informal conversation about non-controversial subjects, often used in social settings to initiate communication or break the ice.

Open-Ended Question

A type of question that allows for a free-form response, encouraging a detailed, subjective answer.

Hypothetical Question

A question based on fictional scenarios, used to assess or illustrate a point rather than solicit factual responses.

Leading Question

A question that suggests or "leads" to a desired answer. Interviewers may use leading questions to elicit responses from witnesses who otherwise would not be forthcoming.