microeconomics
posted by wendy .
potatoes chickens
MICHELLE 200 PER YEAR 50 PER YEAR
jAMES 80 PER YEAR 40 PER YEAR
What is michelles opportunity cost of p
roducing potatoes
WHAT is MICHELLES OPPORTUNITY COST of producing chickens
repeat same opportunitity cost for
James
WHICH PERSON MICHELLE OR jAMES HAS COMPARATIVE ADVANTAGE IN POTATOES OR CHICKENS
Suppose that theyare thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5pounds of potatoes for 1 chicken, would they each be better off ,explain
How would you explain the above narrative to businesses, society as a whole nation explain
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