Table 2-3 Table 2-3 Shows the Output Per Day of Two Gardeners

question 25

Multiple Choice

Table 2-3

Table 2-3 shows the output per day of two gardeners, George and Jack. They can either devote their time to mowing lawns or cultivating gardens.
-Refer to Table 2-3.Which of the following statements is true?

• A) Jack has a comparative advantage in both tasks.
• B) George has a comparative advantage in both tasks.
• C) Jack has a comparative advantage in lawn mowing and George in garden cultivating.
• D) Jack has a comparative advantage in garden cultivating and George in lawn mowing.

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Definitions:

Equilibrium Price

The equilibrium price where the supply of goods meets the demand for those goods in the marketplace.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market price.

Simultaneous Decrease

A situation where two or more economic variables or quantities decline at the same time.

Demand Curve

The Demand Curve is a graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.