(Solution Download) If Michelle devotes all her resources to growing potatoes she


If Michelle devotes all her resources to growing potatoes, she can raise 200 lbs of potatoes per year. if she devotes all her resources to raising chickens, she can raise 50 chickens per year. (If she apportions some resources to each, she can produce any linear combination of chickens and potatoes that lies between those extreme points.). If James devotes all his resources to growing potatoes, he can raise 80 lbs of potatoes per year.
If he devotes all his resources to taising chickens, he can raise 40 chickens per year.(if he apportions some resources to each, then he can produce any linear combination of chickens and potatoes that lies between those extreme points.)
?What is Michelle?s opportunity cost of producing potatoes?
?What is Michelle?s opportunity cost of producing chickens?
?What is James? opportunity cost of producing potatoes?
?What is James? opportunity cost of producing chickens?
?Which person has an absolute advantage in which activities?
?Which person has a comparative?

 







About this question:

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by .
SiteLock