Table 2-9 Table 2-9 Shows the Output Per Week of Week

question 310

Multiple Choice

Table 2-9
Table 2-9 shows the output per week of two jewelers, Serena and Haley. They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2-9. Which of the following statements is true?

• A) Haley has a comparative advantage in making both products.
• B) Serena has a comparative advantage in making both products.
• C) Haley has a comparative advantage in making bracelets and Serena in making necklaces.
• D) Haley has a comparative advantage in making necklaces and Serena in making bracelets.

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Definitions:

Ties

Articles of clothing, typically narrow strips of fabric worn around the neck under the collar, primarily by men for decorative purposes.

Shirts

Pieces of clothing for the upper body, typically with sleeves and a front opening, made for both genders.

Budget Constraint

The limitation on the consumption bundles that a consumer can afford given their income and the prices of goods and services.

Budget Constraint

A limiting factor that individuals or organizations face when deciding how to allocate available resources to meet their needs and desires.