Homework Help: microeconomics

Posted by Brenda on Tuesday, March 22, 2011 at 2:31pm.

Michelle has 200lbs of potatoes and 50 cchickens. James has 80lbs of potatoes and 40 chickens. what is Michelles opportunity cost of producing potatoes and opportunity cost of producing chickens? Same for James. Which person has an abosolte advantage in which activities? Suppose that they are thinking os each specializing in the area in which they have a comparative advantage and then trading at a rate of 2.5 lbs of potatoes for 1 chicken, would they each be beter off? Explain

No one has answered this question yet.

Answer this Question

Related Questions

microeconomics - potatoes chickens MICHELLE 200 PER YEAR 50 PER YEAR jAMES 80 ...
Microeconomics - Suppose that two people, Michelle and James each live alone in ...
MICROECONOMICS - Suppose that two people, Michelle and James each live alone in ...
Microeconomics - Suppose that two people, Michelle and James each live alone ...
econimics - Suppose that two people, Michelle and James each live alone in an ...
Microecinomics - If Michelle devotes all her resources to growing potatoes, she ...
econ - Suppose that two people, Michelle and James each live alone in an ...
Microeconomics - Suppose that two people, Michelle and James each live alone in ...
microeconomics - how do i figure out how to answer the question of what is the ...
FCCOLLEGE - Rashida has a monthly income of $200.which sheallocates between two...

For Further Reading

First Name:
School Subject:
Answer: