The Following Table Shows Output Per Hour for Martha and Stewart

question 24

Essay

The following table shows output per hour for Martha and Stewart who make gift baskets and potholders:
What is the opportunity cost of a potholder for Martha? What is the opportunity cost of a potholder for Stewart? Who has an absolute advantage in producing potholders? Who has a comparative advantage in producing potholders?

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Definitions:

Arousal

A physiological and psychological state of being awake or reactive to stimuli, often involving the autonomic nervous system.

Hindbrain

The posterior part of the brain comprising structures such as the medulla, pons, and cerebellum, involved in regulating basic physiological processes and movement.

Cerebellum

A part of the brain at the back of the skull in vertebrates, responsible for coordinating and regulating voluntary muscle movements, balance, and posture.

Coordination

The organization of different elements or activities to enable them to work together effectively.