Examlex

Solved

(Exhibit: Determining Comparative Advantage) Who Has a Comparative Advantage in Baking

question 51

Multiple Choice

(Exhibit: Determining Comparative Advantage) Who has a comparative advantage in baking bread?
 Opportunity Cost of 1 Bread  Opportunity Cost of 1 Cake  Eric ( 4 loaves of bread =2 cakes ) 1/2 of a cake 2 loaves of bread  Daisy (5 loaves of bread =3 cakes ) 3/5 of a cake 12/3 loaves of bread \begin{array}{|l|l|l|}\hline & \text { Opportunity Cost of 1 Bread } & \text { Opportunity Cost of } 1 \text { Cake } \\\hline \text { Eric ( } 4 \text { loaves of bread }=2 \text { cakes }) & 1 / 2 \text { of a cake } & 2 \text { loaves of bread } \\\hline \text { Daisy }(5 \text { loaves of bread }=3 \text { cakes }) & 3 / 5 \text { of a cake } & 12 / 3 \text { loaves of bread } \\\hline\end{array}

Definitions:

Related Questions

Q3: All of the following are environmental factors

Q12: Groupthink is a problem-solving process in which

Q48: Turkey and chicken are substitutes. The price

Q53: Obtaining the maximum possible output with a

Q66: Generally, the more time that businesses have

Q75: (Figure: Price Floor 0) In the above

Q89: <br>365 days/Accounts receivable turnover<br><br>A)Current ratio<br>B)Price-earnings ratio<br>C)Profit margin<br>D)Asset

Q90: If both supply and demand decrease, _

Q99: According to most economists, the best way

Q119: The _ effect describes the change in