Table 2.7 Table 2.7 Shows the Output Per Day of Two Pet

question 159

Multiple Choice

Table 2.7

Table 2.7 shows the output per day of two pet groomers, Tammi and Horace. They can either devote their time to grooming dogs or bathing cats.
-Refer to Table 2.7. Which of the following statements is true?

• A)Horace has an absolute advantage in both tasks.
• B)Tammi has an absolute advantage in both tasks.
• C)Horace has an absolute advantage in dog grooming and Tammi in cat bathing.
• D)Horace has an absolute advantage in cat bathing and Tammi in dog grooming.

Comprehend how product differentiation impacts market structure in monopolistic competition.

Identify the implications of market structures on firm's output and pricing decisions.

Recognize the role of non-price competition in monopolistic competition.

Differentiate among various market structures based on competition level and barriers to entry.

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