Business, 06.10.2019 04:00 ivilkas23

Victor and crystal run a catering business in which they have two major tasks: getting new clients and preparing food for events and parties. it takes victor 15 hours to prepare the food for an event and 3 hours of effort to get each new client. for crystal, it takes 4 hours to prepare food for an event and 2 hours to get a new client. in this an absolute advantage in food preparation, a comparative advantage in food preparation. suppose that initially victor and crystal are both doing both tasks. then they decide to start shifting some work according to the principle of comparative advantage. in particular, the person with the comparative advantage in food preparation will take over preparing food for one more event, and the other person will use the freed-up time to get more clients. as a result, the total number of events for which food is prepared will remain unchanged, but the number of new clients will increase by a2 b1 c3 d4

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Victor and crystal run a catering business in which they have two major tasks: getting new clients...

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