Bob takes 40 minutes to fry a chicken and 2 minutes to, Ask an Expert

Economics

Bob takes 40 minutes to fry a chicken and 2 minutes to toast a slice of bread. His brother Ed takes 20 minutes to fry a chicken and 5 minutes to toast a slice of bread. find out each brother's opportunity cost for one hour of work.

a. Who has a comparative advantage frying chicken?
b. Who has a comparative advantage toasting bread?
c. Will the brothers gain if they specialize? Illustrate your answer with an ex.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M949800

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