Two friends rachel and joey enjoy baking bread and making, Ask an Expert

Economics

Two friends, Rachel and Joey, enjoy baking bread and making apple pie. rachel takes 2 hours to bake a loaf of bread and 1 hour to make a pie. Joey takes 4 hours to bake a loaf of bread and 4 hours to make a pie. Please calculate to opportunity cost of baking bread for both rachel and joey. (teacher recommends using 4 hour blocks)

Who has the absolute advantage in baking bread?

Who has the comparative advantage?

Who should specialize in bread?

Who should specialize in pie?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707214

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