Table 19-8 Table 19-8 Shows the Output Per Week for Bows and

question 65

Essay

Table 19-8
$\begin{array}{|l|c|c|}\hline & \text { Bows } & \text { Arrows } \\\hline \text { Ahmet } & 20 & 80 \\\hline \text { MyLinh } & 25 & 75 \\\hline\end{array}$ Table 19-8 shows the output per week for bows and arrows by Ahmet and MyLinh.
-Refer to Table 19-8.
a.Which person has an absolute advantage in the production of bows? arrows?
b.Which person has a comparative advantage in the production of bows?
c.Which person has a comparative advantage in the production of arrows?

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Definitions:

Economic Conditions

The state of various factors that influence an economy at a given time, including inflation rates, unemployment levels, and the rate of economic growth.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to analyze the effect of one variable on another, holding all other relevant factors constant.

Economic Model

A simplified representation of economic processes, used to analyze and make predictions about economic behavior.

Economic Policy

A set of principles and practices employed by government to influence the economy, involving decisions on taxation, government spending, and monetary issues.