Business, 23.11.2019 05:31 sweatsierra
Kate is a florist. kate can arrange 20 bouquets per day. she is considering hiring her husband william to work for her. together kate and william can arrange 35 bouquets per day. what is william’s marginal product?
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scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.
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Kate is a florist. kate can arrange 20 bouquets per day. she is considering hiring her husband willi...
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