In One Week,Mohammed Can Knit 5 Sweaters or Bake 240

question 95

Multiple Choice

In one week,Mohammed can knit 5 sweaters or bake 240 cookies.In one week,Aisha can knit 15 sweaters or bake 480 cookies.Which of the following is correct?

• A)Mohammed has an absolute and comparative advantage in both tasks.
• B)Aisha has an absolute and comparative advantage in both tasks.
• C)Mohammed has an absolute advantage in both tasks and a comparative advantage in knitting sweaters.
• D)Aisha has an absolute advantage in both tasks and a comparative advantage in knitting sweaters.
• E)Mohammed has an absolute advantage in both tasks and a comparative advantage in baking cookies.

Differentiate between healthy self-confidence and overconfidence.

Understand the negative impact of codependency in relationships and strategies for improvement.

Realize the positive effect of actual experiences and practice on building self-confidence.

Comprehend the role of positive self-talk and behavior in improving self-confidence and self-efficacy.

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Definitions:

Substitution Effect

The economic principle that as the price of a good rises, consumers will replace it with cheaper alternatives, whereas if the price falls, the good will replace more expensive alternatives.

Economic Rent

Income derived from the ownership or control of a scarce resource, exceeding the income that would cause the resource to be brought into use.

Marginal Resource Cost

The additional cost incurred by acquiring one more unit of a resource.

Marginal Revenue Product

Marginal revenue product is the additional revenue generated from the use of one more unit of a variable input, holding other inputs constant.