Table 3-28 Barb and Jim Run a Business That Sets Up and Up

question 466

Multiple Choice

Table 3-28
Barb and Jim run a business that sets up and tests computers. Assume that Barb and Jim can switch between setting up and testing computers at a constant rate. The following table applies.
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-Refer to Table 3-28. Barb has an absolute advantage in

• A)both setting up and testing computers and a comparative advantage in setting up computers.
• B)both setting up and testing computers and a comparative advantage in testing computers.
• C)neither setting up nor testing computers and a comparative advantage in setting up computers.
• D)neither setting up nor testing computers and a comparative advantage in testing computers.

Differentiate between cognitive therapy and cognitive-behavioral therapy.

Understand the concept of price elasticity of supply and demand.

Distinguish between price elastic and price inelastic supply and demand.

Identify factors that influence the elasticity of supply and demand.