Does barney have an absolute advantage in any activity., Ask an Expert

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These are the number of minutes needed to write a speeding citation or tow a vehicle by Barney or Goober. For example, 10 minutes of labor by Barney always yields either one speeding ticket or half a Vehicles tow.

BARNEY: 10 minutes to write a speeding citation and 20 minutes to tow a vehicle

GOOBER: 15 minutes to write a speeding citation and 25 minutes to tow a vehicle

a) does barney have an absolute advantage in any activity?

b) What is Barneys relative opportinuty cost of writing one additional speeding citation?

c) What is Goobers relative opportinuty cost of writing one additional speeding citation?

d) In which activity does Barney have a comparative advantage and why?

e) In which activity does Goober have a comparative advantage and why?

f) From a microecenomics perspective expalin why a comparative is the relevant measure?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9281464

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